QuickSwap Burns 20M QUICK Tokens Amid Ongoing Deflationary Push

QuickSwap, a decentralized exchange operating on multiple EVM-compatible chains including Polygon and Base, has burned 20 million QUICK tokens after its community voted overwhelmingly in favor of the burn. The vote took place from June 29 to July 3 through Snapshot, an off-chain voting platform used by DeFi protocols for governance.

The burn represents about 2% of QuickSwap's original total supply of 1 billion tokens and is a separate measure from the protocol's ongoing revenue-funded burns under its 'Trial of Fire' program. Since October 2024, QuickSwap has been routing 100% of its revenue toward buybacks and burns.

The Trial of Fire program has already led to significant token supply reduction, with weekly burns reaching 1.59 million QUICK in recent weeks. The cumulative effect is a shrinking token supply driven by both protocol revenue and treasury allocation.