The platform established a partnership with CelsiusX, confirming its commitment to bridging the DeFi-CeFi divide.
In spite of the benefits of decentralized finance, the general public avoids it due to the steep learning curve and risk of losing funds.
QuickSwap (QUICK), a top-ranked DEX on the Polygon network, aims to combine DeFi and centralized finance (CeFi).
According to the data from Cointelegraph Markets Pro and TradingView, the price of QUICK increased by 50%. From $166.40 on Jan. 31 to $250 on Feb. 1 after its 24-hour trading volume increased by 168 percent.
With the announcement of a partnership with Celsius, the establishment of new high yield liquidity pools, and the launch of stable-stable pools, QUICK pricing has quickly recovered.
CelsiusX Partners with QuickSwap
It announced that DEX and CelsiusX, the DeFi branch of the Celsius banking and financial services platform, would be partnering to merge CeFi and DeFi.
As a result of the QuickSwap agreement, popular tokens like Cardano’s ADA and Dogecoin can now access easily by users, bots, arbitrageurs, and institutions.
This allows DOGE and ADA holders more alternatives than just holding or staking their tokens to earn a payout in DeFi.
New Liquidity Pools may Entice a Different Type of Investor
Various additional liquidity and “syrup” pools have also benefited QUICK’s price and momentum. This is good, especially because two projects began in January to connect bridges to the Polygon network.
Also, despite the overall cryptocurrency market fall, QuickSwap has seen a surge in interest for nonfungible tokens (NFT) schemes.
The UniArts network, Dogira, OneRare, and Blockchain Monsters Hunt are among the newly NFT projects on QuickSwap.
Stablecoin Holders Now have More Staking Options
Attractive yields for liquidity providers of stablecoin-stablecoin pairs are a third reason attracting users and liquidity to the QuickSwap DEX.
Their use reduces the danger of temporary loss associated with other types of liquidity pools.
This may result in more attractive stablecoin prices for Celsius network depositors and increased overall QuickSwap liquidity.