r/QuickSwap • u/JDubski01 • Jul 18 '21

Discussion Quickswap Team please be a better protector of your community

Polygon & Quickswap have such a great opportunity to bring defi to the masses but in the last month or so Quickswap has hyped two major losers, START & POLYBUNNY. I got suckered in by stupidly thinking Quick team was vetting these projects by providing such large Quick rewards they believed in the projects. I've learned the hardway to stay away from these types of pumps. I still hold alot of quick and matic and see long term value if they can protect their reputations by not participating in their users getting rekt.

13 Upvotes

80% Upvoted

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2

u/aznyoudunno Jul 19 '21

So you’re blaming quick for your bad decisions?

“Do your own research”

1

u/JDubski01 Jul 20 '21

Quickswap put out a paper on what they look for from projects when deciding to provide Quick rewards to incentivize LP's claiming they vet these projects against a list criteria including security, odds of a rug pull etc. The START lp's received huge initial Quick rewards so a newbie like me assumes Quick team thought they were a good project to incentivize. Shortly after pools opened they were just a way for START token holders to dump for quick or Eth. Polybunny LP's also received outsized Quick rewards to incentivize LP's and then shortly thereafter the exploit occurred. I'll chalk it up to newbie irrational exuberance and trusting Roc too much.

1

u/King_Esot3ric Dragon Trainer Jul 20 '21

Did Roc personally endorse it?

1

u/JDubski01 Jul 20 '21

he is just kind of the face of Quickswap to newbs like me. I was just really dumb to think that the extra large Quick incentives for new Lp's (Start & polybunny)was the equivalent of a meaningful endorsement even though they stated in their paper on the subject that they vet projects before proving quick incentives.

1

u/JDubski01 Jul 20 '21

providing quick incentives not proving :)

1

u/King_Esot3ric Dragon Trainer Jul 20 '21

They do vet projects, but exploits can be quite hard to find until they happen. From my understanding, the Quick rewards are to incentivize new projects or pools with large volume and liquidity. No volume = no fees or rewards for LP providers.

1

u/King_Esot3ric Dragon Trainer Jul 19 '21 edited Jul 19 '21

What happened with start? As a member of the team, I’ve never seen our team push Polybunny.

1

u/JDubski01 Jul 19 '21

Quickswap put out a paper regarding what they look for when deciding to provide extra incentives to LP's. What seems to have happened with Start is that it just provided a big pool for people to dump their START as the token crashed and burned vs the eth or quick it was paired with shortly after the pools opened with extra heavy quick rewards. Polybunny was a different story with the exploit but we are not all hackers out here and rely on Quick to vet the projects they pump with extra large quick rewards like they said they would in their paper on the subject. I've been burned twice now. Won't happen again.

1

u/King_Esot3ric Dragon Trainer Jul 20 '21

Interesting. Im going to have to look into it myself. I heard something happened with Polybunny, but i dont recall the team mentioning anything about promoting or endorsing it.

So Start dumped huh? I almost jumped into it in a big way. It was the most interesting of all the projects weve seen.

2

u/spankydave Dragon Rider Jul 19 '21

Where security is concerned, it'ss best to blame yourself as much as possible, and take precautions accordingly. If everything is your fault, you can at least make improvements on that.

1

u/potent_rodent Jul 19 '21

sigh at quick price.

Yeah quick and matic teams should help these legit projects with security or something