11 Apr 2021
IGGalaxy is officially partnering with QuickSwap, bringing another trading area for our IG Gold (IGG) token!
IGG is available to trade on QuickSwap!
QuickSwap is a permission-less decentralised exchange (DEX) that exists on Polygon Network, a layer-two scalability solution to Ethereum. Using the layer-two infrastructure for transactions, QuickSwap users will be able to trade ERC20 IGG tokens at extreme speeds, without having to incur unnecessarily high gas fees.
QuickSwap is a fork of the originator of automated market maker (AMM), Uniswap, in the rapidly expanding DeFi sector of the crypto space.
We will be collaborating with our friends at QuickSwap to provide our community with another Intergalactic incentive, with over $20,000 of IGG to be allocated for the next month for providing IGG/ETH & IGG/QUICK! Quick will also be announcing their own liquidity rewards pool later today, so be sure to keep your eyes peeled!
The IGG/ETH and IGG/QUICK pairs are now live.
QuickSwap will now join the IGGalaxy liquidity incentive programme for Uniswap and DFyn exchanges.
Like Uniswap and DFyn, you’ll need to ensure you have a MetaMask wallet to interact with QuickSwap.
We will provide a separate update for how you can add liquidity on QuickSwap in a separate article!
We have allocated a billion IGG this year to go towards LP rewards as LP providers play a fundamental role in the decentralised future, and are a key part of IGG’s growth. As you know, any trades made on AMMs cause price slippage, with trades that are particularly large relative to the total liquidity available causing more slippage. So, for AMM like Uniswap, DFyn or QuickSwap to function well, and to facilitate large trades, there needs to be a large pool of liquidity in place. As well as receiving fees from these decentralised exchange protocols, we also want to provide our community with additional value; that’s where our bonus LP rewards come in!
We have provided great incentives to our pools so far with over $650,000 in rewards to date across Uniswap and DFyn exchanges!
Here’s a break down:
From today, our bonus rewards for DFyn LP have been replaced with the Router Protocol Galaxy Farm 2, for which we have allocated over 17,600,000 IGG (~$60,000).
In addition to this, the rewards for providing liquidity to the IGG/ETH pairing on Uniswap will reduce to 4,000,000 IGG each month in anticipation for exchanges listings and other LP incentives over the coming months.