QuickPerps Summary
- QuickPerps is a decentralized perpetual exchange on Polygon zkEVM
- On QuickPerps, you can trade perpetual contracts with leverage of up to 50x
- Some key features are auto-compounding rewards, no price impact, and cross-usable collateral.
Referral Code: cointrade -5% in trading fees
What is QuickPerps
The main reason to launch QuickPerps was: In traditional finance, derivatives account for 90–95% of all global trade — in CEXs, it’s around 90%, and DeFi, it’s around 30–50%, but increasing.
➤QuickPerps is QuickSwap’s decentralized Perpetual Exchange built on Polygon zkEVM.
➤Here, you can trade perpetual crypto contracts at a low cost with leverage of up to 50x.
➤Trade spot with market swaps and limit orders
QuickPerps key features:
- No Price Impact: Users can open and close positions without impacting the underlying price. There is no slippage because of the deep liquidity offered by the QuickPerps $QLP pool.
- Compound Function: When users earn rewards, they are auto-compounded (reinvested) into the main liquidity pool.
- Cross-Usable Assets: You can open leverage positions for one token using another as collateral.
- TradingView Pro: With QuickPerps, you can access advanced trading charts and analytics.
- Pyth Price API & API3 Oracles: QuickSwap’s Perpetual Exchange employs advanced, real-time price and data feeds to provide an ultra-smooth trading experience.
- Live Decentralized Charting: Access live charting with only 1- to 2-second latency.
- Unilevel Referral System: A Subgraph will be implemented for a Unilevel referral system.
- Fee-Sharing Model: Swap aggregators will benefit from a fee-sharing model where QuickSwap tracks and reimburses a portion of collected fees from the 1-inch DEX aggregator.
QuickPerps Trading Fees
➤QuickPerps charges 0.1% trading fees for opening and closing a position. These fees are the same as GMX DEX, as seen in the GMX review.
A Borrow Fee is deducted at the start of every hour. This is the fee paid to the counterparty of your trade.
The fee per hour will vary based on utilization; it is calculated as follows:
(assets borrowed) / (total assets in pool) * 0.01%.
QLP Pool
QLP is QuickPerps’ Liquidity Provider (LP) token that helps power the decentralized Perpetual Exchange.
Rewards Summary:
QuickPerps Liquidity provider token ‘QLP’ earns WETH when held in your wallet.
