Polygon-based DEX QuickSwap has attracted more than $105 million in worth of liquidity since the showtime of 2021.

The Uniswap clone began the year with only $300,000 worth of avails locked in its protocol, with more than three quarters of the exchange'due south total value locked being added in the past fortnight.

QuickSwap is currently the leading second-layer decentralized exchange by daily volume with $38.5 million worth of trades over the by 24 hours. The 2nd-largest L2 DEX by book is Loopring with $8.4 million, followed by ZKSwap with $2.five million.

QuickSwap's governance token, QUICK, surged from under $1 per token to $557 in 3 months, and currently represents nigh twenty% of the protocol'south total liquidity. Other pop tokens on the exchange include Wrapped Ether, USD Money, maUSDC, and Wrapped Matic.

Speaking to Cointelegraph, QuickSwap founder Nick Mudge attributed the exchange'southward recent success to the user's that Aavegotchi brought to Polygon later launching its NFT staking game on Jan. 21.

With more fourscore tokens driving more than $23 million in daily trade volume, Mudge believes QuickSwap is a cornerstone of Polygon'southward nascent DeFi ecosystem, predicting the 2 will grow symbiotically:

"QuickSwap is the center of the Polygon DeFi ecosystem and will grow as the ecosystem grows. QuickSwap and its liquidity mining incentives were a solution to move the users to Polygon and give them a Uniswap experience with very low gas fees."

Polygon, a scaling solution assuasive projects to create Ethereum-compatible blockchains, has benefited from the crippling gas fees that have recently fabricated many Ethereum-powered DeFi protocols as well expensive for casual users.

MATIC, the native crypto of Polygon, has posted meteoric gains this year, rise ane,135% from $0.0182 to $0.2249 over 2021 so far.