Gravity Finance x QuickSwap
Partnership Announcement
Today we are excited to share the details of a new partnership and new products that we have been working on for several months.
In collaboration with QuickSwap, we will be launching a new Perpetual Futures Exchange called QuickPerps.
This new platform will offer several security features, including dual oracle support from both Pyth and Chainlink, as well as several advanced trading features, some currently not available on any other decentralised futures exchange. These include Trailing Stops, Stop Loss and Take Profit conditional orders.
The exchange also onboards many large partnerships and collaborations, including Polygon, Jump Capital, Pyth, Lido and Frax to name a few. Each partner will bring substantial value to the platform which will ensure its success.
QuickSwap brings to the table an extensive user base, business development network and marketing team that will further enhance the platform’s chance of becoming a leading trading platform for retail and institutional traders alike, cementing QuickPerps as the premier decentralised futures exchange on the Polygon Network.
This new platform is ready to launch, pending a vote from the QuickSwap DAO and completed audits. We expect these items to be finalised within the next month.
What is Gravity’s involvement in this partnership?
We accepted the role of development and operations partner on the Perpetual Exchanges, as well as a secondary in-house product called the “Strategy Hub”.
The Strategy Hub will offer QuickSwap an integrated product with access to vaults and Silos (our new DeFi automation product), offering advanced trading strategies such as Delta Neutral positions, directly accessed via the QuickSwap dAPP.
To ensure adequate resources, we have established a dedicated team to work on the Perpetuals Exchange. This team is separate to the Gravity core team and as such does not detract from Gravity’s roadmap plans, development or treasury. This team is highly skilled and are behind many other successful projects including MetaVault DAO.
In exchange for our services, Gravity will receive 7% of all revenue earned by the Futures platform. The full breakup of revenue is as follows:
- 70% to LPs (liquidity providers)
- 15% distributed to $QUICK stakers in the Dragon’s Lair
- 5% to the QuickSwap Foundation
- 7% to Gravity Finance
- 3% retained for investment/marketing.
From Gravity’s 7% share, half will be directed to the dedicated development team to ensure ongoing funding and development without taking any additional resources from the Gravity Treasury.
The remaining 50% will be distributed to the Gravity Treasury and $GFI holders via our Fee Manager contact which currently distributes 80% in the form of claimable wETH and 20% is retained as Protocol Owned Liquidity.
From our side, we have allocated QuickSwap 32.5m GFI tokens, which will be held in a multi-sig wallet and distributed to QuickSwap after specific performance milestones are met on the Exchange. This ensures Gravity is generating adequate revenue and ongoing value from the token allocation.
We strongly believe that this partnership is a win/win for everyone involved and we are very excited to see the platform launched in the near future.
Links
Website: https://gravityfinance.io
Medium: https://gravityfinance.medium.com
Twitter: https://twitter.com/Gravity_Finance (@Gravity_Finance)
Discord: https://discord.gg/gfi
