QuickSwap [Old]
Crypto Overview
Understanding QuickSwap [Old]
QuickSwap [Old] was the governance token for QuickSwap, a decentralized exchange (DEX) built on Polygon's network. The platform was designed to enable fast and low-cost token swaps, liquidity provision, and yield farming. The QUICK token granted holders governance rights and a share of protocol fees.
Intended vs. Actual Utility
The intended utility of QUICK tokens included governance participation, fee sharing, and incentivizing liquidity provision. In practice, the token fulfilled these functions until the platform transitioned to a new token model in 2023.
Platform Analysis
While QuickSwap remains active as a DEX, the old QUICK token has been largely deprecated in favor of the new QUICK token. The platform maintains significant trading volume and liquidity, but this particular token version is no longer actively used for its original purposes.
Token Distribution and Governance
The original distribution included allocations for liquidity mining, team members, and development fund. The transition to the new token model has significantly impacted the old token's utility and governance functions.
Revenue Model Assessment
The platform generates revenue through trading fees, with a portion historically distributed to QUICK token holders. The fee structure itself avoids interest-based mechanisms, aligning with Islamic principles by deriving income from facilitating legitimate trade.
Crypto Impact
To assign a comfort level investing in QuickSwap [Old] from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to QuickSwap [Old].
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.