2023 continues to be a huge year for QuickSwap in terms of chain expansion. The DEX deployed on Polygon zkEVM in March, then on Manta Network, X Layer, and Immutable zkEVM in late 2023, strengthening its presence across the ever-expanding Polygon ecosystem.
Since its inception, QuickSwap has been a Polygon native DEX and has helped bring tremendous liquidity, users, and overall adoption to every chain it’s launched on.
Due to the nature of QuickSwap’s rise in adoption, users, liquidity, and popularity over the years, the DEX has attracted interest from other networks and ecosystems. The most recent is BitTorrent Chain (BTTC), a Layer 2 EVM-compatible solution that is fast, highly scalable, and secure, enabling cross-chain interoperability between the TRON, Ethereum, and Binance Smart Chain networks.
QuickSwap is looking to enter into a partnership with the BTTC team - the first phase would be to launch on the BTTC chain, opening the door to a massive opportunity to explore a new and exciting ecosystem outside of Polygon and boosting its multichain presence.
This proposal is for the dragon community to discuss and vote on whether QuickSwap should launch on BTTC (BitTorrent Chain). Justin Sun will also be personally involved in helping co-market and support QuickSwap x BTTC during and after the launch!
TL;DR:
- BitTorrent Chain (BTTC) is a powerful Layer 2 EVM-compatible solution that is fast, highly scalable, and secure, enabling cross-chain interoperability between the TRON, Ethereum, and Binance Smart Chain networks
- This proposal has been put forth for the dragon community to decide if QuickSwap should launch on BTTC
- BTTC is offering multiple incentives for the proposed launch, including BTT tokens for QuickSwap LPs during the initial mining reward period, organise events and campaign initiatives, seed DEX liquidity, perpetual product supporting QuickSwap liquidity, and social media exposure for the dragon DEX. For privacy reasons, they’ve asked QuickSwap not to mention exact numbers and perks publicly (more info below)
- QUICK emissions may be provided on the BTTC chain but will be limited (only if it makes economical sense for both parties)
- In addition, Justin Sun will be personally helping with co-marketing this initiative to his large user base on socials (3.4M+ X followers)
- BTTC will be seeding liquidity to QuickSwap to help kickstart efforts on the chain
- To begin, the governance discussion on the official QuickSwap Reddit will run until Friday, October 4 at 8:30 AM UTC
- Once the Reddit discussions finish, a formal Snapshot vote will run until Tuesday, October 8 at 8:30 AM UTC
- Once you’ve read this entire blog post, make sure to visit the official QuickSwap Reddit discussion forum to share your perspective with your fellow community members
What is BitTorrent Chain (BTTC)?
Launched in December 2021, BitTorrent Chain (BTTC) is a cutting-edge blockchain scaling solution and heterogeneous cross-chain interoperability protocol on Tron and initiated its operations in December 2021. The platform facilitates seamless cross-transfer of assets from EVM (Ethereum Virtual Machine) blockchains, including BNB Smart Chain and the Ethereum blockchain, through the BTTC Bridge.
Features of BTTC:
- Blockchain Security: BTTC is fortified by independent validators utilizing the PoS (Proof of Stake) consensus mechanism, ensuring robust security for the network
- Low Transaction Costs: With average gas fees consistently below $0.01, BTTC significantly reduces transaction costs, providing an efficient and cost-effective environment for users
As mentioned earlier, BTTC is a Layer 2 of TRON, the second largest blockchain network in the world with $7.9B+ in TVL, 262M+ accounts, and 8.6B+ total transactions. TRON is a strong leader in the blockchain space.
BTTC Rewards & Liquidity on QuickSwap
To kickstart QuickSwap’s launch on BTTC, a large amount of reward incentives and liquidity are being proposed to become available for LPs (Liquidity Providers) and the dragon community, helping drive even more adoption for both the BTTC and QuickSwap’s DragonFi ecosystem.
Below is a breakdown of what can be expected:
- Mining Reward Incentive: BTTC commits to offering BTT Tokens during the initial mining reward period for Quickswap LP. The mining reward amount will be subject to adjustment based on market performance, with the intention of encouraging sustained user participation
- Events & Initiatives: To stimulate interest and increase QuickSwap’s TVL (Total Value Locked) and user growth on BTTC, a series of events and initiatives will be organised, leveraging BTTC's social media presence and community engagement strategies
- DEX Liquidity Seeding: BTTC commits to providing initial DEX liquidity seeding to facilitate a smooth start for QuickSwap trading. This measure aims to ensure a seamless and liquid market for QuickSwap users on the BTTC platform
- Perpetual Product Launch Support: Upon the launch of perpetual products on BTTC, they have Pyth.Network integrated to support the product - the platform will contribute a designated amount of liquidity to further support Quickswap's trading ecosystem
- Social Media Exposure & Community Engagement: BTTC's social media channels will actively engage in promotional activities, including AMAs (Ask Me Anything) sessions with the BTTC technical team, aimed at discussing pertinent topics related to QuickSwap. Additionally, PR articles will be disseminated to enhance the visibility of the QuickSwap launch on various social media platforms. Justin Sun is involved in this, and will be supporting as well!
As BTTC continues to develop and the collaboration/activity between QuickSwap and BTTC deepens, there will be potential for more rewards and incentives to become available for community members.
A Massive Leap Forward
If the community were to vote in favor of this governance proposal, it would mark a unique time in QuickSwap’s history to branch outside of the Polygon ecosystem for the very first time and expand its multichain wings.
This proposal seeks to formalize the integration of Quickswap on BTTC, outlining the various incentives and support mechanisms that BTTC is committed to providing. By collaborating in this manner, the intent is to create a mutually beneficial environment for both Quickswap and BTTC, fostering growth, liquidity, and a vibrant user community.
The BTTC team looks forward to the opportunity to work closely with Quickswap and believes that this integration will bring significant value to both ecosystems.
BTTC is a network with great promise and is backed by Tron and Justin Sun, they’re offering our community great incentives, and is growing in adoption and TVL. The first step is to deploy on BTTC, while additionally working towards deploying on the Tron network.
If QuickSwap deploys on the chain, not only would it bring new users and activity to the DEX but also help the network accelerate in growth, all while giving the dragon community an opportunity to access a new exciting DeFi ecosystem.
QuickSwap is continuing to make big moves and stay agile in the ever-changing crypto landscape - and it’s time for the community to make another key decision in the DEX’s future!
Join the Discussion
As always, QuickSwap community members are encouraged to participate in and contribute to QuickSwap governance discussions and proposals across all of QuickSwap’s online forums, especially on Reddit. As a Dragon, you are a valued community member and your opinion matters – but you have to participate in community voting procedures to make it count.
Critical decisions guiding QuickSwap’s strategic development will always be determined by way of decentralised governance. QuickSwap’s future is in your hands, so make your voice heard!