AirSwap is a non-custodial platform designed for peer-to-peer over-the-counter (OTC) trading of Ethereum ERC-20 tokens and non-fungible tokens (NFTs). The platform allows individuals and trading firms to swap tokens directly with each other, without the need for a centralized intermediary. AirSwap is decentralized, which means that users have full control over their funds and trading execution is carried out through smart contracts. The platform’s peer-to-peer swaps are non-custodial and atomic, which eliminates counterparty and intermediary risks.
AirSwap was created by Michael Oved and Don Mosites, who have backgrounds in finance and technology respectively. The platform launched its network and token on October 10, 2017, after the publication of the Swap Protocol whitepaper in 2017. Notable crypto investors such as Mike Novogratz and Joseph Lubin serve as advisors to AirSwap. Unlike centralized exchanges that require users to trust the exchange with their funds, AirSwap’s decentralized approach ensures that users retain control over their funds until the trade is executed.
One of the key features that sets AirSwap apart from other decentralized exchanges (DEXs) is its trade execution process. Trades on AirSwap are executed directly from one wallet to another simultaneously, which helps to mitigate against issues such as front running and maximal extractable value (MEV). The platform operates as a self-sustaining decentralized autonomous organization (DAO), with protocol fees on swaps automatically routed to governance and development pools. AirSwap also supports a variety of trading protocols, including RFQ, LastLook, OTC, and NFT marketplaces.
In terms of tokenomics, AirSwap launched the AirSwap Token (AST) in October 2017. Of the total supply of 500 million AST, 150 million were sold during the token launch. Currently, around 200 million AST are in circulation, with the remaining tokens held in a multi-signature treasury wallet managed by ConsenSys Mesh. AST is an ERC-20 token that can be traded on AirSwap, other DEXs, and centralized exchanges like Coinbase and Binance. Holding AST enables users to participate in governance, earn a swap bonus, and act as a maker on the AirSwap network.
Overall, AirSwap offers a decentralized trading platform that prioritizes user control and security. By enabling direct peer-to-peer swaps without the need for a centralized intermediary, AirSwap provides a unique and innovative approach to token trading. With its focus on atomic swaps, non-custodial trading, and flexible trading protocols, AirSwap aims to offer a seamless and secure trading experience for individuals and trading firms in the cryptocurrency space.
