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DEX 2.0 Version of the Major Tezos Decentralized Exchange QuipuSwap is Released
MadFish presents the long-awaited QuipuSwap update that improves the economy model and brings UI changes, new token pool contracts and stats, voting updates, and other changes that community members wished for.
By: Lee Evans
1 November 2022
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
MadFish presents the long-awaited QuipuSwap update that improves the economy model and brings UI changes, new token pool contracts and stats, voting updates, and other changes that community members wished for.
These include:
New pool contracts
New farms with high APR
Improved stats section for liquidity providers;
New section for creating token pools
Enhanced search options
Platform fee changes
New QUIPU buyback mechanics
Interface fee for developers
The updated voting process for Tezos bakers
Flash loans
Migrating your liquidity to DEX 2.0 pools
Please pay attention: the MadFish team advises liquidity providers who want to use new features to move their liquidity to DEX 2.0 pools. Please use the “Migration button” in your liquidity pool interface for migrating your liquidity.
The new features will only work for the new pool contracts. For example, only the new pool contracts will be able to participate in future farming programs, etc..
Flash loans
QuipuSwap presents Flash Loans, which is highly anticipated among the DeFi community.
Flash loans allow users to instantly borrow the sum required under the sole condition of repaying the debt within the same block. If the loan cannot be repaid within the same block, the transaction will simply be denied.
Flash loans can be used to take advantage of arbitrage opportunities.
For example, if you can buy 200 QUIPU for 65 XTZ on Quipuswap, and can sell 200 QUIPU for 70 XTZ on Plenty DEX, then you have an arbitrage opportunity to earn 5 XTZ.
With Flash loans, you don’t need any funds to make this transaction. You borrow 65 XTZ to buy 200 QUIPU and sell the 200 QUIPU for 70 XTZ in the same block.
The blockchain clock ticks one block at a time, so in terms of blockchain time, borrowing and paying back the loan in the same block is basically instantly.
It’s possible because the total sum of all things registered on the blockchain ledger remains correct within the block.
This way you borrowed 65 XTZ and are able to pay the 65 XTZ back in the same block with a net result of 5 XTZ profit. Arbitrage opportunities are usually smaller, so with flash loans, anyone (rich or poor) could use bigger amounts to make an interesting profit.
Currently, Flash Loans can only be executed through code. There is no dedicated interface for this feature; it is for code-savvy traders only. For more info, check here.
Rewards vesting
Along with UI and technical changes, QuipuSwap received new financial mechanics intended to improve the QuipuSwap economy.
Among them is Rewards vesting, which redistributes a share of the prematurely withdrawn reward to a reward pool for remaining participants.
This mechanic was added to increase the income of loyal liquidity providers as well as to protect the QUIPU token from inflation.
The complete list of changes and their details are available from this full review of the DEX 2.0 update on the MadFish blog.
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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