In the quest for decentralization within the cryptocurrency industry, decentralized exchanges (DEXs) emerged as a solution, providing a secure and trustless environment for digital asset trading. DEXs allow users to retain ownership of their funds throughout the trading process. However, liquidity issues initially hampered DEX functionality until automated market makers (AMMs) addressed this challenge. Among the notable DEXs is AirSwap, which empowers users with full trade control.
What is AirSwap
AirSwap is a decentralized exchange operating atop the Ethereum blockchain, distinguished by its peer-to-peer (P2P) token trading facilitated by Ethereum-based smart contracts. The platform enables off-chain negotiations and facilitates on-chain settlements.
The AirSwap decentralized autonomous organization (DAO) governs the platform. AST holders can engage in governance by staking AST and actively participating in shaping the network's trajectory.
The AirSwap project team
Established in 2017, AirSwap was co-founded by Michael Oved, who is concurrently the co-founder and CEO of Fluidity. Joining him in this venture is Sam Tabar, serving as the CEO of BitDigital; and Don Mosites, occupying the role of lead product manager for AirSwap.
How does AirSwap work
AirSwap works alongside renowned AMMs like 1inch and Uniswap, using their liquidity with its innovative Request for Quote (RFQ) and Last Look (LL) protocols. The RFQ mechanism enables market makers to run web servers and receive orders. Meanwhile, the Last Look protocol enables market makers to share their price data with clients. Effectively, AirSwap's platform facilitates a trustless "atomic swap" between two parties in a secure and seamless manner.
AST tokenomics
AirSwap's native cryptocurrency is the AST token, which made its debut on October 17, 2017. With a total supply of 500 million, AST predominantly serves as a membership token within the AirSwap community, enabling participation in governance through staking. Notably, AST also plays a pivotal role for market makers as they establish markets on the AirSwap platform, thus contributing to the smooth execution of swaps on the DEX.
AST distribution
Airswap distributed its tokens in the following way:
- 30 percent: Sold to the community
- 10 percent: Project’s advisors and partners
- 10 percent: Founders
- 10 percent: Set aside for new partnerships
- 40 percent: Locked for a minimum of 6 months
