CoinGecko will be hosting our Virtual Meetup #13 on June 17 @ 9AM EST. Held monthly, CoinGecko Virtual Meetup is our live online community event where we explore different key topics in the crypto sphere and invite industry leaders to share their two satoshis.
This month, we will be discussing the Polygon ecosystem and one of our featured guests is Sameep Singhania, founder of QuickSwap. QuickSwap is a permissionless decentralized exchange (DEX) based on Ethereum, powered by Matic Network's Layer 2 scalability infrastructure.
Read on to get to know Sameep better!
1. Can you share a bit about yourself with us?
I am an engineer by heart and currently live in India. I started my blockchain journey in 2017 and since then it has been a roller coaster ride. I have worked on projects like openBazaar, Paraswap, and QuickSwap.
I love designing and developing safe and secure smart contracts. I am focused on facilitating the widespread adoption of decentralized technologies.
In my free time, I love to read books on Ancient cultures and aliens.
2. How did you come up with your idea for QuickSwap?
In early March of 2020, the price of Ethereum was somewhere around $90 and then it suddenly rose to around $400 in July/August. This increase in price was due to the sudden adoption of the platform by the users and the dapps. This sudden adoption led to the increase in gas prices and this increase in Eth and gas prices on the Ethereum network led to the exponential increase in the transaction cost. It became virtually impossible for the small to mid-sized traders/users to use DEXes on Ethereum. And this trend was growing at an alarming rate.
We wanted to find a solution for this problem and build an ecosystem where users can trade without worrying about the transaction cost and time. We loved, and still love, Uniswap. So we decided to have a fork of Uniswap on a layer-2 platform which has negligible transaction cost and time. Our obvious choice was Polygon (Matic at that time). We started discussing it with Sandeep and other advisors and eventually figured out Uniswap on Polygon can do wonders and solve a major UX issue. So that’s how the idea for QuickSwap came up.
3. Are there any current projects you’re working on that you can share?
Currently, my entire focus is driving the growth of QuickSwap as an ecosystem, and for that we need to focus on the UX side of things. In my personal opinion, QuickSwap has already solved level 1 of UX issues by providing users with a platform where they can trade fast without worrying about the transaction fees. We have seen transactions worth as low as 20 cents on QuickSwap, which is a big approval of our thought process while ideating QuickSwap. Now, we are focusing on the next level of UX improvements.
Apart from QuickSwap, I am also working on the smart contracts side of Paraswap.
4. What are your thoughts on the Polygon Ecosystem?
Polygon as an ecosystem is growing at an amazing rate, it's actually growing at an exponential rate. When you talk about an ecosystem it basically means a complete set of team, community, tools and projects. Polygon is fortunate enough to have the best of all. I am pretty sure that polygon is here to stay for a very very long time. And I consider myself to be very lucky to be a part of such a thriving and vibrant ecosystem
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Stephanie has a keen interest in breaking down complex topics into beginner-friendly pieces. She has been in the crypto space since 2020 and wants to continue contributing to the demystification of the crypto industry to a broader audience.
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