2024 is shaping up to be a pivotal year for QuickSwap as the decentralised exchange (DEX) continues to expand across multiple blockchain ecosystems. With recent deployments on zkEVM solutions like Polygon zkEVM and Immutable zkEVM, QuickSwap is quickly conquering the multichain landscape.
As QuickSwap's presence grows, it's crucial for users to have access to reliable tools that help them make informed decisions about the tokens they engage with.
That’s where Webacy’s DYOR (Do Your Own Research) tool comes in.
This proposal has been written by Webacy on behalf of QuickSwap. They are asking the dragon community if the DEX should integrate their DYOR tool (at no cost - this will be a free product) on the DEX swap page frontend to bring a higher security presence to users and - more information in the proposal below.
- To begin, the governance discussion on the official QuickSwap Reddit will run until Sunday, October 20 at 5:30 AM UTC
- Once the Reddit discussions finish, a formal Snapshot vote will run until Thursday, October 24 at 5:30 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 Webacy’s DYOR Tool?
The DYOR tool (available at https://dapp.webacy.com/dyor) is designed to give users deep insights into token risks, security, and liquidity. By linking QuickSwap users directly to this tool, they can easily assess the safety and legitimacy of tokens before making any trades.
With QuickSwap expanding to new chains and adding more tokens, having Webacy’s DYOR tool natively integrated into the platform and UI would provide an extra layer of security and research for users without requiring them to leave the platform.
The DYOR tool enables:
- Comprehensive Token Analysis: Users can get crucial information on token liquidity, market data, and security risks in real-time, helping them better understand the assets they’re trading.
- Risk Assessment & Alerts: DYOR highlights potential risks in token contracts or behaviour, ensuring users have all the facts before making investment decisions.
- Seamless Integration: QuickSwap can easily provide links to DYOR, giving users direct access to in-depth research and risk assessment tools with just a few clicks.
As QuickSwap expands its token offerings and adds more chains, Webacy’s DYOR tool can help ensure the platform remains a secure place to trade. Users will be empowered to evaluate token risks, liquidity, and contract data directly through DYOR, making informed decisions and minimising the chances of engaging with unsafe or risky assets.
Why This Integration Matters
By linking out to Webacy’s DYOR tool, QuickSwap is taking steps to ensure that its users are well-equipped to handle the complexities of token research. This potential integration would:
- Increase user safety by offering a straightforward way to evaluate tokens before trading.
- Boost confidence among traders and LPs (liquidity providers) who want transparent, data-driven insights into the tokens listed on QuickSwap.
- Reinforce QuickSwap’s commitment to user security, providing not only liquidity and trading options but also the tools necessary for careful, informed decision-making.
As QuickSwap continues to grow and innovate across various blockchain ecosystems, partnering with Webacy will provide users with an invaluable resource to help them navigate the ever-evolving DeFi landscape with confidence.
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!
