QuickSwap partners with CelsiusX
The most significant late development for QuickSwap was the announcement that the DEX partnered with CelsiusX, the DeFi arm of the Celsius bank and fiscal services platform that is focused on integrating CeFi and DeFi .
Partnering with QuickSwap besides allows for the creation of wrapped versions of popular tokens like Cardano ’ s ADA and Dogecoin ( DOGE ), which do not presently have a major presence on Polygon, along with well-funded liquid pools for these assets thus that users, bots, arbitrageurs and institutions have easy access to that token. This besides provides DOGE and ADA holders with total ways to use their assets in DeFi to earn a yield alternatively of merely holding their doge or staking their adenosine deaminase .
New liquidity pools could attract a new breed of investor
A second factor helping to bolster the price and momentum of QUICK has been the plunge of multiple new fluidity and “ syrup ” pools. This could be a bullish bless, particularly when considering that a handful of projects launched and integrated bridges to the Polygon network in January . aside from the addition of documentation for DeFi protocols like Atlantis Loans or the layer-1 blockchain solution Orbs ( ORBS ), QuickSwap has seen a flurry of add hold for nonfungible token ( NFT ) projects, which have once again been gaining momentum despite the wide weakness in the cryptocurrency commercialize.
Some of the newly supported NFT projects on QuickSwap include the UniArts network, Dogira, OneRare and Blockchain Monsters Hunt. Related: $1B worth of ETH burned in the past 30 days due to record high OpenSea NFT transactions
New staking options for stablecoin holders
A third agent helping to attract users and liquid to the QuickSwap DEX is attractive yields for fluidity providers of stablecoin-stablecoin pairs .
Yielding on stables fathom well ?
⚖️QuickSwap offers several stable-stable pools where LPs can earn over 14 % # APY & balance risk of Impermanent Loss
If yielding on $ USDC, $ USDT, $ MAI & $ DAI while earning $ dQUICK rewards sounds like your throng : hypertext transfer protocol : //t.co/Ac4PagsDsY pic.twitter.com/uRMQ8C790G
— QuickSwap (@QuickswapDEX) January 24, 2022
These pools provide users with an opportunity to earn a decent yield while besides decreasing the risk of impermanent loss associated with other types of liquidity pools. This could besides present more attractive stablecoin yields for depositors on the Celsius network and increase the overall liquid locked on the QuickSwap protocol. The views and opinions expressed here are entirely those of the generator and do not inevitably reflect the views of Cointelegraph.com. Every investment and deal move involves risk, you should conduct your own research when making a decision .
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