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AirSwap

Introducing the New AirSwap

Today our transition to Phase II is complete. With the latest contracts up and the community governance process, AirSwap aims to be the world's best decentralized peer-to-peer trading system. Staking to vote starts today on Codefi Activate.
by ConsenSysFebruary 9, 2021
airswap blog post cover

AirSwap is a natively global project. From the initial whitepaper through the token launch, both its core contributors and launch participants have been distributed around the world. The token launch itself was among 9,447 people from 135 countries.

One of AirSwap’s earliest goals was to operate as an effective open organization with a transparent structure and process. With wide participation from the AirSwap community, we continue to strive toward that goal together and Phase II marks our progress.

Mission

AirSwap’s mission is to be the world’s best peer-to-peer trading system. Using a request-for-quote (RFQ) protocol and atomic swaps for settlement, AirSwap traders are protected from both front-running and price slippage, trading directly wallet-to-wallet.

AirSwap works alongside automated market makers (AMM) like Uniswap. We estimate that RFQ will capture around 40% of volume through aggregators. Today, AirSwap is averaging  over $2M in daily volume and this is trending upward with new integrations.

Process

Centered on new principles, network development is a continuous process from ideation to delivery. AirSwap Improvement Proposals (AIP) help the community capture, select, and prioritize new projects to which the network should allocate resources.

This includes both network technology and products to support decentralized trading like AirSwap Instant and AirSwap OTC. It’s through a formal proposal process that new work is identified, specified, and implemented. Several incentives are built in.

Proposer Incentive

Authors of proposals that are accepted by community vote can earn AirSwap tokens for their contribution. The details of the proposal incentive are being finalized now and will be one of the next community votes. (AIP 15

Voter Incentive

Proposals are voted on by the community in a decentralized governance system. Each voter can earn points for participating, which can then be used to claim rewards. Rewards are funded by protocol fees assessed on AirSwap trades. (AIP 7)

Developer Incentive

Once a proposal is accepted by community vote, it’s placed in a project backlog for selection by contributors. Generally, projects fall within open source development, growth, and marketing categories and contributors are compensated through the AirSwap token treasury. (AIP 10)

How to participate

Starting today, you can stake your AirSwap tokens on Codefi Activate to participate in proposal governance. There are 15 AIPs published so far, several of which have already been implemented. The rest are awaiting votes, which will start this week and continue perpetually.

To contribute as a proposer or developer, check out the AirSwap website and join the Discord to learn more about how the system works, the community is organized, and the process is structured. There are many new opportunities on both network technology and product levels.

If you’re running a token project, you can take advantage of the new Codefi Activate governance portal to incentivize participation by your community. Check out the Activate website and get in touch with the Activate team online or by email.

Join and shape the future

As the Internet democratized information, blockchain democratizes finance. By joining the AirSwap mission you’re playing a part. While many new applications have launched over the last year, the simplicity of peer-to-peer trading gives AirSwap lasting strength and security.

As the ecosystem matures and more sophisticated liquidity providers come online, the RFQ model will continue to win more and more trades due to its simplicity, better pricing, and lower execution costs. On that foundation, the possibilities for trading networks are unlimited.

Check us out on Discord to come on board. 🔷