Quickswap Dex
Rejected venues wait the longest for re-review; a rejection has to earn another look before the scheduled date.
QuickSwap operates paired-asset V2 and concentrated-liquidity V3 AMM pools, with LP positions currently observed on Polygon and Base. The DefiLlama protocol API read on 2026-08-15 reported about $190.1M of DEX TVL, almost entirely on Polygon. That larger perimeter does not change the deciding exposure: LP inventory is rebalanced through trades and can exit in a worse asset mix than simply holding the pair. The shared v1 AMM-LP rejection therefore controls regardless of protocol scale or quality.
- Ships an economically separate product without pooled multi-asset inventory or relative-price rebalancing that merits its own review
The research file
Mechanism applicability
QuickSwap documents V2 pools as equal-value deposits of two tokens into a constant-product pool and V3 as liquidity placed within selected price ranges. LP tokens or positions represent claims on pooled reserves and earn trading fees, while optional farms add QUICK emissions. Both designs expose the depositor to AMM inventory rebalancing rather than a fixed claim on the deposited asset mix.
Current observation
The DefiLlama protocol API read on 2026-08-15 reported approximately $190.1M of QuickSwap DEX TVL: about $190.06M on Polygon and $0.05M on Base, plus roughly $0.50M categorized as staking. QuickSwap’s current documentation describes a wider interface footprint, but the survey adapter presently attributes DEX TVL only to Polygon and Base; those figures are not independent reserve or exit-depth assurance.
Control and exit applicability
V2 holders burn LP tokens to retrieve their proportional pool reserves and accrued fees. V3 holders select a range and must rebalance when it falls out of range; QuickSwap also offers third-party active management through Gamma on supported deployments. In either route, trades change the position’s inventory, and an out-of-range position can become one-sided. Manager automation and farming rewards do not remove that loss mechanism.
Why the class rule decides
The shared v1 AMM-LP dossier controls because QuickSwap depositors own pooled paired-asset inventory whose composition changes with relative price. Reopen only for an economically separate QuickSwap product that does not pool multiple assets or rebalance inventory against relative-price moves. Any such product requires its own review of deployment, control, contracts, audits, incidents, incentives, liquidity and stressed exits.
Sources
The claims above trace to these. Where a number could not be independently verified, the thesis says so.
- QuickSwap Docs — pools · primary · accessed 2026-08-15
Supports: V2 paired deposits, V3 ranges, trading fees, active management, LP mechanism - QuickSwap Docs — liquidity providing · primary · accessed 2026-08-15
Supports: LP positions, price ranges, Gamma strategies, pool creation, fees - QuickSwap Docs — supported chains · primary · accessed 2026-08-15
Supports: current deployments, Polygon, Base, swap and LP surface - DefiLlama — QuickSwap DEX survey record · secondary · accessed 2026-08-15
Supports: current TVL, Polygon TVL, Base TVL, staking breakout, DEX category
Inherited controls
The verdict above grades the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The least safe layer sets the position’s grade, and the position table names which one that is.
| Chain | Verdict | Grade | Control constraint |
|---|---|---|---|
| Polygon PoS | Rejected | hybrid | a public validator set orders transactions, but a 5-of-9 multisig can instantly upgrade staking and canonical bridge contracts, while a 5-of-8 controls custom child tokens. |
| Base | Approved · limits | hybrid | Coinbase — one regulated US company — operates the only sequencer, and admin keys can upgrade bridge contracts within ~7 days. |