The QuickSwap community has decided to split the platform’s native token, QUICK. Reacting to the upside in the last hour and past 7-days, QUICK could see more upside as the Polygon-based decentralized exchange moves to increase its level of adoption.
Related Reading | QuickSwap Asks The Community, To Split or Not to Split QUICK Token?
At the time of writing, QuickSwap (QUICK) trades at $225 with a 2.6% and 31% profit in 24-hours and one week, respectively. QUICK has seen its largest profits, on low timeframes on March 19 and 20, as the community inclined to split the token in 1:1000 proportion.
Via their official Twitter handle, QuickSwap reported that the token split by 1:1000 was approved by 84% of the participants. Previously, the project asked the community if they wanted to split QUICK at all.
At that time, 93% of the users voted yes to the token split event. On their different social media platform, the team behind the project and several community members began a heated debate to determine the potential benefits and trade-offs for this token split.
QUICK’s total supply will growth from 1 million tokens to 1 billion tokens. Conversely, the price of the token will be reduced but token holders will preserve their investment value. They will hold more QUICK as a consequence of the process. The team behind the project said:
Increasing QUICK’s maximum supply will reduce the asset’s price per unit, making it more appealing to crypto enthusiasts who compare QUICK to other DEX tokens…