Should QuickSwap Launch QuickPerps Hydra on Polygon zkEVM?

The perps trading space has been heating up. To help spark adoption and tap into the growing interest across this sector, QuickSwap kicked off its presence in the perps space by launching QuickPerps in May 2023, a decentralised Perpetual Exchange built on Polygon zkEVM enabling users to trade with up to 50x leverage on popular crypto tokens.

It was the very first perps exchange on the chain and, to date, has amassed $140M+ in cumulative trading volume, a peak of $10M+ in TVL, and 12K+ users. As a bonus, the Polygon zkEVM network has become far more user friendly, particularly with drastically reduced gas fees where you can now trade for a few cents per transaction.

Now, it’s time to take it up a notch and introduce a new upgrade to the existing QuickPerps version - a fiery breath of fresh air set to completely revolutonise the perps trading experience.

Introducing QuickPerps: Hydra, the new rebrand of the V2 version of the existing perps on QuickSwap - packed with a brand new UI, flagship features, and much more. Not only will this be a massive upgrade to the existing perps DEX but also an important step for QuickSwap to remain competitive across the perps industry.

This proposal is for the dragon community to decide if QuickSwap should launch a V2 version of the perps DEX (now rebranding to QuickPerps: Hydra) on Polygon zkEVM. All features, benefits, and the fee structure will be outlined in the proposal below.

TL;DR:

• QuickSwap’s decentralised Perpetual Exchange, QuickPerps, has been live on Polygon zkEVM since March 2023 and was its first iteration of a perps DEX • In order to remain competitive and keep up with the industry’s latest and greatest tech, upgrading to a more advanced V2 model would introduce a wide array of new features and improve upon existing ones • One of the biggest features is that the QUICK token will be able to be used as collateral, giving it more utility and use cases while also enabling a 15% discount on trading fees for users • This proposal is for the dragon community to discuss and decide if QuickSwap should launch Hydra (the V2 version) on Polygon zkEVM • This Snapshot vote will run until Friday, May 31 at 11:00 AM UTC • Make sure read the entire blog post and visit the official QuickSwap Reddit discussion forum to share your perspective with your fellow community members