Okcash • OK is now tradable over QuickSwap

Okcash

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Now you can trade OK on QuickSwap at the different pairs:
OK/USDC | OK/wMATIC | OK/USDT | OK/DAI
https://quickswap.exchange/#/swap?outputCurrency=0xd3Ac016b1B8C80EeAdDe4D186A9138C9324e4189&inputCurrency=0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174&swapIndex=0

Automated Market Makers (AMM) like QuickSwap are hugely popular in Decentralized Finance (DeFi). The Uniswap model has become a standard across different blockchains and Layer 2 platforms. QuickSwap provides the same functionality as Uniswap, but it’s based on the Polygon network instead of Ethereum. Although QuickSwap is a fork of Uniswap, key differences between the two have led to it being favored by some users.

What Is QuickSwap?

QuickSwap is a Layer 2 decentralized exchange and automated market maker (AMM) built on the Polygon network.

Launched in 2020, it uses an AMM model where users swap tokens without order books. Since it’s a DEX, Know Your Customer (KYC) isn’t needed. To transact, you need only a wallet to connect to the platform, and MATIC tokens to pay for the transaction fees.

How QuickSwap Works

QuickSwap’s AMM model rewards liquidity providers with a 0.3% fee shared proportionally based on the liquidity provided. The tokens’ prices aren’t determined via an order book but through a formula known as the Constant Product Market Maker.

Let’s use the OK/DAI liquidity pool as an example. We’ll refer to OK as x and DAI as y. With a Constant Product Market Maker formula, x and y are multiplied together to create a constant, k, that can’t change.

x * y = k

The liquidity pool will offer you a conversion rate, in our case, 3,000 DAI (y) for 1 OK (x). When you supply the 3,000 DAI to the pool and remove 1 OK, it will have a higher supply of DAI and a smaller supply of OK. This action causes the price of OK to rise as k is constant. In other words, you are using your DAI to buy OK. As more OK leaves the pool, its price in comparison to DAI rises.

Learn how to use QuickSwap Decentralized exchange with this tutorial:
https://youtu.be/Va-4rMm6jm8

Learn more about OK:
https://okcash.co