Access Liquidity Pool Rewards using hashport!

Starting this Wednesday, November 24th, QuickSwap is set to bring HBAR[0x] holders the ability to earn fee rewards on a new liquidity pool that utilises HBAR[0x] and the MAI stablecoin (miMATIC), the representative version of HBAR that resides on the Polygon Network!

QuickSwap is an automated market maker (AMM) that operates via a set of smart contracts enabling users to submit swap orders for cryptocurrencies in a decentralised, low-information manner. Liquidity providers are the contributors to Liquidity Pools that enable AMMs to function — users contribute an equal dollar value amount of two tokens to a liquidity pool, thereby increasing the pool’s total volume of liquidity for swaps to occur on. For their contribution, liquidity providers receive a proportion of the fees generated on trades that occur within that specific pool based on the share of Liquidity Pool tokens a user holds.

How to access the HBAR[0x] liquidity pools?

  1. Access liquidity pools by holding HBAR or by acquiring HBAR through an exchange or wallet.
  2. Use hashport in order to generate HBAR[0x] on to the Polygon Network
  3. Go to the pool tab on QuickSwap to add liquidity to the HBAR[0x]/MAI pool.
  4. Find HBAR[0x]/MAI on the FARM tab and stake your newly-created LP tokens
  5. Start earning fees on your HBAR[0x] for every trade through the QuickSwap pool as well as a portion of the daily dQUICK rewards!

[UPDATE: HBAR[0x]/MAI liquidity pool rewards on Quickswap are temporarily unavailable. Please refer to https://quickswap.exchange/ for the latest updates.]

HBAR holders have long requested a place to earn yield on their assets. By using QuickSwap via hashport, they now can!

Lastly, please note that as with all liquidity pools, the tokens a user provides are potentially subject to impermanent loss due to the price fluctuations of the assets from the time LP tokens are created. Prospective users should familiarize themselves and be comfortable with any potential for impermanent loss prior to partaking in liquidity provisioning.

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[UPDATE: The HBAR[0x]/MAI liquidity pool rewards on Quickswap are temporarily unavailable. Please refer to https://quickswap.exchange for the latest updates.]

About QuickSwap:

QuickSwap is a permissionless decentralized exchange (DEX) based on Ethereum, powered by Polygon Network’s Layer 2 scalability infrastructure. By utilizing Layer 2 for transactions, QuickSwap users will be able to trade any ERC20 asset at lightning-fast speeds with near-zero gas costs. QuickSwap is used by tens of thousands of users daily, offering approximately $100+ million dollars of daily volume and $750 million dollars in liquidity, according to their data metrics.

About hashport

hashport is the enterprise-grade public utility that facilitates the movement of digital assets between distributed networks, extending their functionality in a quick, secure, and cost-effective way. In order to remain platform-neutral, hashport functions without the use of a proprietary token. The network is built on a robust and performant architecture, secured and operated by a group of industry-leading validator partners from around the world. hashport has passed a rigorous security audit and follows industry best practices; regularly performing comprehensive network tests to ensure the integrity of the network.

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Disclaimer: The information provided on hashport’s website does not constitute investment advice, financial advice, trading advice, or any other sort of advice. You should not treat any site content as advice.

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