Polygon’s QuickSwap Considers Token Split, Why It Could Be Bullish For QUICK

On a positive trajectory over the last 24 hours and moving along with the general sentiment in the market, Polygon decentralize exchange (DEX) QuickSwap could boost its fundamentals. According to a recent announcement, the project could split its native governance token QUICK.

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Dubbed the “most important governance discussion to date” on the platform’s official social media channel, a fierce debate has taken place between Polygon users. This process is critical, and could precede a voting on the token split, depending on its result.

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The main argument behind the proposal is supported by the potential expansion of the Polygon token, QUICK, supply. The project is currently planning changes on its tokenomics. A change in QUICK’s supply stands as the first and one of the most important.

If approve, the community will vote on possibly splitting the Polygon token on a 1:100 or 1:1,000 relation. The team behind QuickSwap clarified the following:

This would mean that for every 1 QUICK you now hold, you would hold 100 QUICK or 1000 QUICK after the split. QUICK’s maximum supply would increase from 1 million to 100 million or 1 billion.

The split would attempt to “open up” QuickSwap to new users, particularly those with intention to invest but that consider QUICK “too expensive” or with “small chances” of future appreciation. The proposal has managed to secure support from a portion of QUICK holders, others remain skeptical.

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5/ One concern is that the split could be deemed a taxable event