QuickSwap’s integration with Gamma to enable V3 active liquidity management went live in January 2023. In just its first few months out of the gate, Gamma V3 has accrued almost $60M in TVL and has been a major success. Gamma V3 farms continue to deliver high rewards across the board and now play a key role in the QuickSwap product suite.
2023 is set to be a big year for QuickSwap, with plans to expand the DragonFi ecosystem with a new set of innovative DeFi products. In order to cover expenses and bring in the necessary specialists to support new product rollouts, additional funds are required, especially as current market conditions make it challenging to fund growth.
As outlined in the terms of QuickSwap’s partnership with Gamma, the revenue generated from performance fees for Gamma-powered V3 LPs and farms is currently split 50/50 between QuickSwap and Gamma. Out of a total of 14.4%, each party takes home 7.2%.
For the purpose of optimising upcoming launches, QuickSwap is bringing forth a new governance discussion to ask the community if the QuickSwap Foundation should receive 100% of QuickSwap’s share of the fees for the first 12 months of Gamma V3’s operations.
Note: In the future, there will be a separate vote to decide on an updated fee breakdown amongst $QUICK holders.
TL;DR:
- The 14.4% performance fee from QuickSwap’s Gamma V3 integration is currently split 50/50 between QuickSwap & Gamma.
- Additional funds are needed to help cover current expenses and bring in the necessary specialists to support the rollout of new products and features in QuickSwap’s product suite.
- It’s up to the community to discuss and vote on whether the Foundation should receive 100% of QuickSwap’s share of performance fees for the first 12 months of Gamma V3’s operations.
- In the future, there will be a separate vote for the community to decide on the updated breakdown of the revenue split between QuickSwap & Gamma, as well as the breakdown amongst $QUICK holders.
- The QuickSwap community will have an opportunity to share an open discussion before conducting a formal vote.
- The governance discussion will begin immediately and run until Thursday, June 1 at 8:30 AM EST
- Once the QuickSwap community has aligned, the proposal will go live with a Snapshot on Thursday, June 1 at 8:30 AM EST and conclude on Sunday, June 4 at 8:30 AM EST, during which the community can conduct a formal vote.
- After you’ve read this entire blog post, make sure to visit QuickSwap’s Reddit discussion forum to discuss further with your fellow community members: https://www.reddit.com/r/QuickSwap/comments/13vp136/quickswap_governance_discussion_should_the/
Adding New Features for Growth & Development
QuickSwap is currently in a critical stage of growth and development. Cutting corners on innovation and other growth initiatives will ultimately hinder QuickSwap’s development and limit its potential.
Should QuickSwap have the opportunity to leverage 100% of its share of performance fees for a full 12 months post-launch, the QuickSwap DEX will be best positioned to take on a stronger role as a DeFi market leader.
Note: This fee allocation proposal will also apply to future V3 LP management solutions, as QuickSwap plans to expand to offer more options for diversification and competition.
Information regarding Gamma’s audits and documentation is below for reference:
Audits: https://docs.gamma.xyz/gamma/learn/audits
Documentation: https://docs.gamma.xyz/gamma/
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.
As always, 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!