For years now, QuickSwap has become a recognized DEX and leader in the blockchain space and has led the charge for the growth and adoption of the Polygon ecosystem, including Polygon zkEVM and Dogechain.
With the Polygon zkEVM mainnet beta deployed in March 2023, the chain quickly gained recognition and adoption, reaching a peak of ~$35 million by July 2023. As more ZK-powered chains continue to enter the spotlight, their powerful tech infrastructure, scalability, security, interoperability, and speed are completely changing the game.
And while these ZK chains keep expanding their reach, multichain solutions are also beginning to cement themselves as the ethos of DeFi (decentralized finance). When the two come together, it unlocks the potential for even more magic.
Among the heavyweights is Astar Network, a scalable decentralized blockchain that enables communications and the direct flow of assets between Polygon, Ethereum, Polkadot, Cosmos, and other popular blockchain networks. Astar Network has just announced the launch of their zkEVM network (powered by Polygon CDK), bringing them closer to and more intertwined within the Polygon ecosystem. QuickSwap is aiming to help drive adoption for Astar Network’s zkEVM chain even further, pushing the boundaries of Web3 and beyond for the Polygon network.
This governance proposal is a joint effort from both parties and has been put forth to ask the community if QuickSwap should launch on Astar Network, allowing users to access DeFi features such as swapping, LPing, farming, and more directly on the chain through the DEX’s interface.
TL;DR:
- Polygon ZK-powered infrastructure is starting to go mainstream in the blockchain space, setting a new standard
- QuickSwap is asking the dragon community if the DEX should launch on Astar zkEVM, which is Astar Network’s zkEVM infrastructure powered by Polygon CDK that is more interconnected with the Polygon ecosystem
- To begin, the governance discussion on the official QuickSwap Discord & Reddit will run until Friday, September 15 at 11:00 AM UTC
- Once the Discord & Reddit discussions finish, a formal Snapshot vote will begin and run from Friday, September 15 at 11:00 AM UTC until Tuesday, September 19 at 11:00 AM UTC
- Once you’ve read this entire blog post, make sure to visit the official QuickSwap Discord server & Reddit discussion forum to share your perspective with your fellow community members
What is Astar Network?
Astar Network is the largest parachain of Polkadot in terms of market cap and is also recognized as the go-to-market blockchain for Japanese enterprises and leading L1 in Japan overall. To learn more about Astar’s past achievements in Japan, please refer to the doc below: https://astarnetwork.notion.site/Astar-Japan-699a9b8b49434afab2935edf947551b8?pvs=4
Recently, Astar Network has reached a strategic partnership to build Astar zkEVM as an Ethereum L2 powered by Polygon zkEVM Supernet to accelerate the Web3 mass adoption in Japan and globally.
Token2049 marked the beginning of a new era for Astar Network, as they launched Astar zkEVM, a new blockchain network leveraging Polygon’s zkEVM infrastructure. With this new deployment, Astar Network aims to make some serious noise across the Polygon ecosystem, not only bringing its advanced multichain capabilities but also more liquidity, DeFi features, and community.
Why is this Integration Important?
If QuickSwap launches on Astar Network’s zkEVM chain, it will open up the door to an entirely new ecosystem, including an even greater network of interconnected chains already accessible through Astar’s infrastructure.
Furthermore, integrating Astar Network as a new chain on QuickSwap will bring in and attract more liquidity across the Polygon ecosystem while further strengthening ties with Polygon as a whole. As QuickSwap and Polygon continue to make strides and scale to new levels, adding Astar Network to the mix could prove to be a great feather in the cap.
The more interconnected ecosystems on QuickSwap under the Polygon umbrella, the more support, strength, and viability will come to the DEX. Plus, the QuickSwap and Polygon communities would greatly benefit from having direct access to Astar Network’s massive community of DeFi users, and vice versa.
QuickSwap integrating Astar Network’s zkEVM chain would allow the DEX to become the main gateway for this newfound blockchain environment straight out of the gate, opening the door for unlimited potential.
Partnership Details
Both projects have agreed on proposing the following terms, which include rewards/incentives, product integrations, future quests/campaigns, and more.
If the community votes in favor of this proposal, QuickSwap and Astar Network will move forward with the outlined efforts and initiatives while continuing to collaborate further on the partnership down the line:
- Astar Network will provide ASTR tokens as liquidity rewards for LPs on QuickSwap
- Astar will also provide ASTR tokens to The QuickSwap Foundation as a budget for quests, and other campaigns.
- QuickSwap will integrate and deploy onto Astar Network’s zkEVM chain using the aforementioned funds provided by the Astar Foundation, which will help cover team costs such as development, product, marketing, etc.
- Astar will also seed a significant amount of liquidity to bootstrap QuickSwap operations on the chain.
- Astar has asked that we not disclose exact amounts publicly yet, as they are in the middle of negotiations with other projects and do not want our agreement to cause issues in their other negotiations. We may disclose the numbers at a later date with their permission. The numbers are significant, and The Foundation believes this partnership is in the best interest of the QuickSwap community.
*Note that the Astar Foundation can also help decide on the LP pools to incentivize, along with the QuickSwap Foundation
ASTR Token
Here is a summary of the ASTR token utility and value:
1. Builders: Developers who build on Astar (including Astar zkEVM) can join dApp staking and receive a developer incentive in the form of ASTR
2. Stakers: You can stake ASTR to support builders and receive staking rewards (more info here: https://docs.astar.network/docs/build/dapp-staking/#what-is-dapp-staking)
3. It's used for gas fees in Astar Layer 1, a multi-vm environment - 80% of the gas used is burned
4. Future Governance: ASTR will be the token to shape the network
5. Astar zkEVM will reduce ASTR Inflation through buyback and burn mechanisms
6. Astar will provide tooling where developers are able to use ASTR for gas fees (more info: https://docs.astar.network/docs/learn/zkEVM/faq)
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 Discord & 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.
As always, critical decisions guiding QuickSwap’s strategic development will always be determined by way of decentralized governance. QuickSwap’s future is in your hands, so make your voice heard!