I've used Quickswap a few times before due to my need for DEX on Polygon, which is mainly driven by my activities on Sandbox, Opensea, and also our PolyCub. A proof that I have become a Polygon participant.
It's really enjoyable to play defi over L2 networks (same for OP or Arbitrum, which I have less participation) as the fees are almost negligible. Even fees on BSC look large if you compare with Polygon.
Anyway, today somehow I decided to explore further about Defi on Polygon and I started with Quickswap.
An $1,000 USDT investment experiment
After a bit of exploring, I decided to put my $1000 USDT to work by purchasing MATIC and SAND equally and farm it on Quickswap.
Although I am still a little bit ignorant about its APRs... Pool? Farm? Anyway, looks enough for me.
If you click FARM button before providing liquidity, you will see this. It's interesting that they use NFTs instead of LP tokens. Must be a reason for it but I haven't figured out why.
Even this AMM has something innovative, at least that's something I haven't seen before: you can set a range for your LP: four options - Full range, Safe, Common and Expert. I chose common.
and deposited the funds 50-50.
Now I have an NFT which is in range. Time to put it to work by farming it.
After a while, it has earned me some dQUICK - some vested version of the native platform token $QUICK.
Here you can see that if Sandbox had provided farming rewards to them, I would be able to earn extra $SANDs too. But they did not.
Sharing my Quickswap farming here and also recording this on chain so I can come back after a while to see if this is a good choice. Let's wait and see! 😀
A 0.22 BTC and $2,000 USDC experiment
After looking into those interesting ranged LP choices. I am allured to put my idle BTC and USDC on Polygon into it, thinking that by choosing Expert if there is big fluctuation, this LP will stop working so I have less IL. Seems ideal for me. Let's do it!
So... if BTC price stays between $16,796 and $19,514, then this farm will keep working for me by earning dQUICK. Otherwise, I think it would stop at the boundary point.
A big amount of money for me.. So wish me luck.
Now I will keep a close eye on Quickswap and Polygon... 😁