Should QuickSwap Feature a Predictions Market Built by PRDT Finance?
After a few days of discussion in our Reddit forum and across social platforms, QuickSwap is introducing a governance vote about the possibility of featuring a predictions market built by PRDT Finance.
- Last week, we opened a discussion forum about the possibility of featuring a predictions market built by PRDT Finance
- A predictions market will likely increase revenue to stakers in the Dragon’s Lair as well as the QuickSwap Foundation, which enables QuickSwap’s team to fund development
- Immediately, the QuickSwap community expressed overwhelming support for the proposal
- We are now moving to the next phase: a governance vote
- The snapshot for the vote took place on Monday, May 30th at 2:15pm PST
- The vote will run until Friday, June 3rd
- If the vote passes, we will add a tab to QuickSwap’s User Interface featuring the predictions market on Monday, June 6th (estimate)
- Details about the proposal, voting eligibility, and how to participate in QuickSwap’s upcoming governance vote follow
To predict or not to predict?: That’s not the question
We want to be very clear if this proposal passes and QuickSwap does feature PRDT’s predictions market, that doesn’t mean we’re saying you should use it. As we pointed out several times in our previous blog, predictions markets are risky. Those who make correct predictions stand to gain a lot, but those who make incorrect predictions stand to lose just as much. QuickSwap and PRDT Finance encourage anyone who chooses to use their platform to do so with caution and only at their own risk.
Therefore, the question isn’t whether or not you should use the platform, it’s whether or not QuickSwap should feature it. The advantages to QuickSwap featuring PRDT’s predictions market include:
- Increased user engagement
- Our website becoming more fun to use and attracting more dragons
- Increased revenue for stakers in the Dragon’s Lair
- Increased revenue to enable the team to expand
- An extra tool for users
- Stronger partnership with PRDT Finance’s experienced development team
- No change to QuickSwap’s UI/UX for users who choose not to use the predictions market
For more information about the advantages and potential disadvantages of featuring this market and how it would affect you, please review our blog QuickSwap Governance Discussion: Should We Feature a Predictions Market Built by PRDT Finance?
Once you’ve done that, go check out our Reddit discussion forum and feel free to ask any questions you may have there.
This is a decision that could seriously impact our DEX. Since we’re community-driven, this process works best when as many QUICK holders as possible take part. We want you to have a say in the future of our DEX. To do this, you have to make sure that you are eligible. To be qualified to vote, your QUICK must be held on the Polygon Network in a self-custodial wallet by the time of the snapshot on Monday, May 30th.
To be clear:
You are eligible to vote if you meet any of the following conditions:
- You hold Old QUICK in a MetaMask Wallet or another Polygon-enabled wallet to which you control the private keys. Please note: To qualify, your Old QUICK must be held on the Polygon Network and not on Ethereum, BSC, or any other chain.
- You hold New QUICK in a MetaMask Wallet or another Polygon-enabled wallet to which you control the private keys. Please note: To qualify, your New QUICK must be held on the Polygon Network and not on Ethereum, BSC, or any other chain.
- You deposited your Old QUICK into the Dragon’s Lair and are now holding dQUICK in its place while you accumulate more Old QUICK.
- You deposited your Old QUICK into a Dragon’s Syrup Pool and are farming other tokens with it.
- You deposited your New QUICK into a Dragon’s Syrup Pool and are farming other tokens with it.
- You are providing liquidity for select Old and New QUICK pairs on QuickSwap and have staked your LP so you’re earning trading fees and dQUICK rewards. Select pairs include:
Old QUICK — MATIC
Old QUICK — ETH
Old QUICK — TEL
Old QUICK — USDC
New QUICK — ETH
New QUICK — USDC
You are not eligible to vote if:
- You hold Old or New QUICK on a centralized exchange wallet (such as Binance, Coinbase, Crypto.com, etc) to which you do not hold the private keys.
- You hold Old or New QUICK in a self-custodial wallet (like MetaMask), but you keep that QUICK on Ethereum, BSC, or any network other than Polygon.
- You are providing liquidity for a QUICK pair not listed above on QuickSwap or for any QUICK pair on another DEX. (To be clear: Only the QUICK you are using to LP for pairs not mentioned above will be excluded from the snapshot. If you also hold QUICK that you are not using to LP with, you will be eligible to vote with that).
The snapshot will take place on Monday, May 30th, 2022. The vote will begin immediately after and will run for 5 days. Eligible QUICK holders will have the opportunity to cast their votes from Monday, May 30th — Friday, June 3rd.
If this vote passes, QuickSwap will work with PRDT Finance to finalize all of the details and launch the predictions market on Monday, June 6th.*
*This is an estimate. While the coding is complete, software is sometimes tricky. All dates are subject to change without prior notice.
How to participate in the vote
- Visit https://snapshot.org/#/quickvote.eth after the snapshot on Monday, May 30th.
- Connect your MetaMask Wallet (or other Polygon-compatible, self-custodial wallet)
- Make sure you’re connected to the Matic Mainnet
- The combined weight of Old QUICK, New QUICK, and dQUICK in your wallet at the time of the snapshot will dictate the weight of your vote
- $QUICK staked in select liquidity pools will also be counted in the weight of your vote
3. Select the open proposal titled, “Should we feature a Predictions Market built by PRDT Finance?”
4. Click on the option you prefer
5. Confirm your selection in your wallet
Which way to vote?
QuickSwap’s team universally supports this proposal. We believe featuring a predictions market is a win-win-win because it will bring added revenue to stakers in the Dragon’s Lair, to QuickSwap’s Foundation, and to PRDT Finance. In a bear market, everyone needs new sources of revenue, and we think a predictions market could be a great one!
That said, QuickSwap is a community-owned and governed DEX. We can’t make unilateral decisions without your vote, and you’re allowed to disagree with us. How you vote is ultimately up to you. So, do your own research, and vote your conscience.
We invite you to come discuss the topic openly in any of our online forums. At QuickSwap, our utmost priority has always been to ensure that our DEX thrives. We know that we can’t do that without valued community members, like you. Come let us know what you’re thinking anytime.