Dragons are trendy, and treasure is even trendier. One look at our juicy, juicy rewards pools might have you wondering how you can get a piece for your team and community. But while QuickSwap is a permissionless DEX where anyone can list any token at any time, we have to be a little bit more selective when choosing which tokens will be included in our liquidity mining rewards program and how many QUICK each listing will get.
In our Telegram group, one of the most frequently asked questions is “How are participating pools chosen each week?” At QuickSwap, we always want to be as transparent as possible with our community, but the answer to this question just isn’t that simple. In essence, we base rewards eligibility and quantity on several factors, including:
- Liquidity
- Volume
- Rewarding the pairs we need to deepen liquidity for because of demand
- Competition
- Community Involvement
- Benefits to QuickSwap/Polygon
- The QUICK token pair
Determining which tokens and pairs are eligible for rewards is a very complicated process, and right now, it’s not suited to a one-size-fits-all model. While we intend to turn it over to voters once we have the correct formula worked out, we aren’t quite there yet. The good news is that more trading on QuickSwap helps us figure it out.
Some of the conditions require subjective elements, like considering communities that have supported QuickSwap from the earliest days, but others are hard and fast, so we’ve decided to create this checklist for you to see if your project might qualify for rewards. Please note that while this checklist provides some factors that we consider, it isn’t set in stone. These eligibility criteria are just some of the questions we ask when considering whether or not to award pairs. The criteria may be subject to negotiation or change without prior notice and at the team’s discretion.
- Has the team (or community) already created their pairs? Have they added a minimum of $250k to a QUICK-TheirToken pair? Have they created any additional pairs? What is the current liquidity on each pair (QUICK pair in particular). Higher liquidity equals more rewards
- Is the token already trading on QuickSwap? If so, for how long? Does the trading volume support the liquidity?
- Does the token have an upgradeable contract? What is the probability of a rug pull?
- What % of the total or circulating supply does the team control? Is multisig enabled on any and all team wallets?
- Who is on the team? Are they doxxed? Known throughout the community? If the team is anonymous, what reasons do we have to trust them?
- How old/established is the project? How large and/or active is the community?
- In some cases, we may require that teams lock-up a portion of the liquidity they provide with UniCrypt to prevent rug pulls. Is the team willing to do that?
- Is the project willing to commit to doing an airdrop of their tokens to QUICK holders? If so, how much?
- Will the project be helpful with our marketing efforts? Are community members likely to get involved with promoting QuickSwap?
If you believe that your token meets some of the above criteria or should be considered for exception, let us know why by completing this form. If you don’t hear back from someone on the team within a few days, feel free to reach out to our admins on Telegram to follow up.
Like we said, it isn’t always easy to determine these factors. Not everything on the above list is required for each rewards pair, but these are some of the questions we ask ourselves when considering which new pairs we should add. We can’t wait to get this boiled down to an exact science so our community can take over its own governance, but in the meantime we’re counting on you to help us figure it out. Keep trading on QuickSwap, keep sharing your ideas in our community Telegram group and on socials, and most importantly, roar dragon roar.
DeFi, Polygon, and QuickSwap are all growing by leaps and bounds. If you’re interested in learning more about our community or getting involved, come join us on any (or all) of our social channels. The more dragons, the merrier.
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By QuickSwap Official on May 22, 2021.
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Exported from Medium on May 2, 2023.
