What is a DEX (Decentralized Exchange)?

A decentralized exchange (DEX) is a cryptocurrency trading platform that operates without a central authority. Trades are executed directly on the blockchain using smart contracts, giving users full custody of their funds. Examples include Hyperliquid, Uniswap, and dYdX.

How is DEX ranking calculated?

DEX Ranking ranks decentralized exchanges by their 24-hour and 7-day trading volume, open interest, market share, and number of active trading pairs. Data is sourced directly from exchanges and updated every 5 minutes.

What is the largest DEX by volume?

As of 2025, Hyperliquid is the largest decentralized exchange by 24h trading volume, accounting for approximately 29% of total DEX market share. It is a derivatives DEX offering perpetual futures trading.

What is the difference between Spot DEX and Derivatives DEX?

Spot DEXs (like Uniswap, Orca) allow direct token swaps at current market prices. Derivatives DEXs (like Hyperliquid, dYdX, Grvt) offer leveraged trading products such as perpetual futures and options, without requiring a centralized intermediary.

How often is DEX ranking data updated?

DEX Ranking data is refreshed every 5 minutes, providing near real-time rankings based on the latest trading volume and market data.

What is QuickSwap?

#33

AMMSpotMulti-chain

## What Is QuickSwap? QuickSwap is a [decentralized exchange](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex) that runs on Polygon Network to offer cheaper and faster transactions. Its [automated market maker](https://coinmarketcap.com/alexandria/glossary/automated-market-maker-amm) integrates upgradeable [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract) on [Ethereum](https://coinmarketcap.com/currencies/ethereum/) and renders [intermediaries](https://coinmarketcap.com/alexandria/glossary/intermediary-middleman) obsolete. The exchange is based on open-source software and prioritizes decentralization, [censorship resistance](https://coinmarketcap.com/alexandria/glossary/censorship-resistance) and security. It benefits from ultra-low gas prices compared to Ethereum, as well as fast and simple trading execution. Anyone can become a [liquidity provider](https://coinmarketcap.com/alexandria/glossary/liquidity-provider-tokens-lp-tokens) by depositing two tokens into a [liquidity pool](https://coinmarketcap.com/alexandria/glossary/liquidity-pool). The exchange enables the trading of [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) tokens, which are traded according to the constant product formula. The mechanism removes the need for an [order book](https://coinmarketcap.com/alexandria/glossary/order-book) and allows traders to tap into a constant pool of liquidity. Liquidity providers can passively invest their assets to accumulate trading fees or provide liquidity as a hedge for certain trading strategies. Traders use tools like [token swaps](https://coinmarketcap.com/alexandria/glossary/token-swap) or can deploy arbitrage bots to compare prices across different exchanges. Finally, developers integrate the exchange with different liquidity aggregators or [wallets](https://coinmarketcap.com/alexandria/glossary/hot-wallet). ## Who Are the QuickSwap Founders? QuickSwap was founded by Roc Zacharias, who is also the CEO of Lunar Digital Assets, a blockchain marketing and consultancy firm that also acts as an advisor to the exchange. It is furthermore advised by the Matic Foundation, a governing body of the Polygon blockchain. ## When Did QuickSwap Launch? QuickSwap launched in May 2021 with over 96% of the tokens distributed to the community. It is now considered the main decentralized exchange for Polygon, a [layer-two](https://coinmarketcap.com/alexandria/glossary/layer-2) solution for Ethereum. ## Where Is QuickSwap Located? The exchange doesn’t provide any information about its headquarters. ## QuickSwap Restricted Countries At the time of writing, there is no information about restricted countries on this exchange. ## QuickSwap Supported Coins List QuickSwap supports all ERC-20 tokens deployed on Polygon, including wrapped tokens like [wrapped Bitcoin](https://coinmarketcap.com/alexandria/article/what-is-wrapped-bitcoin). ## How Much Are QuickSwap Fees? The exchange charges a 0.3% fee for swapping tokens, which is distributed among liquidity providers on a pro-rata basis. ## Is It Possible to Use Leverage or Margin Trade on QuickSwap? There is no margin or [leverage trading](https://coinmarketcap.com/alexandria/article/what-is-leverage-in-crypto-trading-and-how-to-use-it) option on this exchange.

Visit QuickSwap Twitter Full Stats

Live Statistics

24h Volume

$61.14M

+15.60%

7d Volume

$373.87M

+28.70%

30d Volume

$1.84B

-36.44%

Open Interest

N/A

Market Share

0.32%

Markets

235

Weekly Visits

2,625

Rank

#33

How does QuickSwap work?

QuickSwap is an automated market maker (AMM) DEX. Instead of a traditional order book, it uses liquidity pools — smart contracts that hold pairs of tokens. Liquidity providers (LPs) deposit equal values of two tokens into a pool and receive LP tokens representing their share. When a trader swaps tokens, they interact directly with the pool; the AMM algorithm (typically a constant product formula x·y=k) adjusts prices automatically based on supply and demand. LPs earn a portion of every trade's fee proportional to their pool share.

Key Features

Non-Custodial

You control your private keys. Funds never leave your wallet until a trade is executed on-chain.

AMM Architecture

Automated market maker with passive liquidity pools. No counterparty needed — trade directly against the pool.

1 Network

Available on Multi-chain.

Transparent Fees

Fee structure is transparent and visible on-chain for every trade.

235 Markets

QuickSwap offers 235 trading markets across spot instruments.

Open Access

No KYC required. Connect any compatible wallet and start trading immediately from any jurisdiction.

Frequently Asked Questions

What is QuickSwap?

How does QuickSwap work?

QuickSwap uses liquidity pools and an automated market maker (AMM) algorithm to facilitate trades. Liquidity providers deposit token pairs into pools and earn a share of trading fees. Prices are determined algorithmically based on the ratio of assets in each pool.

Is QuickSwap safe to use?

QuickSwap is a non-custodial decentralized exchange, meaning users retain control of their private keys and funds at all times. Smart contract risk is inherent in all DeFi protocols — always review audits and use appropriate position sizes.

Which blockchains does QuickSwap support?

QuickSwap operates on Multi-chain. Multi-chain support allows users to trade assets native to each supported chain without bridging.

When was QuickSwap launched?

QuickSwap was launched in 2020. Since then it has grown to offer 235 trading markets with $61.14M in 24-hour trading volume.