FARMING & SWAPPING WITH QUICKSWAP’s V3 ON POLYGON
QuickSwap’s V3, already running on Dogechain, has been launched on Polygon, in a beta format. The network has a major deal for bug detectors and fixers currently ongoing; funded by a sum of US$100,000.
This solution will deal with technical problems related to the smart contracts on QuickSwap V3; a reason why the v3 is updated from time to time.
V2 or V3?
There is a difference between QuickSwap V2 and QuickSwap V3. While the V3 allows the concentration of liquidity in the pools, thereby easing trading within custom price ranges, the V2 does not.
This means that the higher the level of liquidity, the higher the number of bonuses generated from the trading fees. Via the QuickSwap V3, you can trade against the total liquidity (minus the gas fees) found in the pool.
Unlike the automated market maker mechanism used by the QuickSwap V2, the V3 uses liquidity pools that need less capital and split the trading fees according to contributions.
Not seen in the QuickSwap V2, when you provide liquidity in the QuickSwap V3, your digitized assets all get converted as prices move. If the prices drop in value, so will the liquidity. Also, your tokens can change form if prices go haywire.
QuickSwap V3 Features
● Farming,
● Swapping,
● Less capital,
● Price ranges,
● Much rewards,
● Liquidity staking,
● Risks with profits.
Navigating the Space
Below are the steps which you can take to farm your tokens, provide liquidity for the pools, and swap your tokens.
So how do we provide liquidity?
Providing Liquidity
A long procedure, but quite worth it. This process guarantees your access to reward distributions and other important aspects of the QuickSwap v3.
1. Visit https://v3.quickswap.exchange.
2. Connect your wallet.
3. Click on the POOLS tab.
4. Open the V3 pool.
5. Choose the specific assets which you want to provide liquidity for.
6. Set up your own price ratio for new liquidity premium pools.
7. Check out the small USD/TOKENS toggle at the top of the screen.
8. You can now check how to express the price ratio between the two assets for your V3 liquidity pool.
✓ Select USD to show you the prices of your assets in the format of US dollars.
✓ Select TOKENS means the prices of your assets would be expressed in the crypto format; of which, you would have to be switching from here to the SWAP tab to get the accurate prices.
9. Chip in the details about your new v3 liquidity pool.
10. Pick a pair of (two) assets.
11. Input the relationship between the assets, if the price ratio for these two cannot be fetched.
12. Input a price range of your choice for your concentrated liquidity, or choose between the following:
✓ Safe,
✓ Common,
✓ Expert.
13. Input and approve the number of tokens you wish to deposit.
14. Preview your steps so far.
15. Confirm the transaction.
Always visit POOLS to check your concentrated liquidity level; manage them by checking often for range positions and price shifts, so that if any of those happen, you can:
- Withdraw your liquidity.
- Create a new liquidity pool.
- Or wait for the prices to shift back, instead.
For more information on your liquidity pool, visit MY LIQUIDITY POOLS. There you would find out if your liquidity pool is in an accurate range, bonuses not claimed yet, the currency expression of your assets, and fees, amongst others.
How about putting your farmed tokens to use?
Swapping
1. Visit the SWAP tab.
2. Choose BEST TRADE to ensure that you are provided the best path and efficient swap process.
3. Open up the V3 MARKET.
4. Select assets you wish to swap.
5. Input how much you are swapping them for.
6. APPROVE the transaction; SWAP.
7. Confirm the transaction from your wallet, and you are done with the whole procedure.
Farming
Farming with QuickSwap V3 entails you having V3 LP tokens. You would have to have already provided liquidity before then.
After planting, you will be free to claim rewards or harvest at any time of your choice.
- Click on the FARMS tab: https://v3.quickswap.exchange/#/farm/v3?tab=eternal-farms
- Choose a Farm.
- Approve and deposit your tokens.
- Go to the MY FARMS tab, to check out information about them.
Points to Note
✓ Always choose the V3 option whenever it appears in every procedure. This will make a difference from the V2 system, which does not deal with concentrated liquidity.
✓ Always check on your liquidity pools, to fish out every trace of malfunction or price shift, so you can correct or restart them. If this does not work, you can easily retrieve the data about your liquidity and use it to create a brand new liquidity pool.
✓ To farm, you have to be a proven liquidity provider. Your asset farm should be linked to your liquidity pool(s), to avoid lagging in the transaction process.
You can withdraw your assets or liquidity anytime you want to; there is no limit as to how much can be withdrawn, for now. But it is best if you can observe the times and the seasons of your farming, to easily identify what time is the best for you to harvest your investments.
If you are ready to gain access to the QuickSwap v3 platform, click on this link: https://beta.quickswap.exchange/.
ABOUT QUICKSWAP
QuickSwap is a product of the Uniswap network, the first Automated Market Maker (AMM) in the now-exploding decentralized finance (DeFi) sector of the global crypto industry.
The QuickSwap DEX, with the aid of the Uniswap network, runs the QUICK token, a fungible digital coin that can be staked to earn a share of QuickSwap’s transaction fees or used for governance.
Meanwhile, Snapshot (yet another primary product of QuickSwap), an off-chain voting tool, is used for community governance, and decisions are irrevocable.
Keep in touch and find out more about QuickSwap by checking out the following:
Telegram: https://t.me/QuickSwapDEX
Twitter: https://twitter.com/QuickswapDEX
Medium: https://quickswap-layer2.medium.com/
Announcements: https://t.me/QuickSwapAnnouncements
Reddit: https://www.reddit.com/r/QuickSwap/
Discord: https://discord.gg/kZahFPGB