Know Everything About AirSwap (AST)

AirSwap (AST)


AirSwap (AST)

AirSwap coin (AST) is the membership token of the AirSwap DEX. AST follows the Ethereum Requests for Comment (ERC20) token standard, a set of programming rules all Ethereum-based tokens are expected to follow. If you have an AST coin, it gives you the right to trade any (ERC20 standard) cryptocurrency on the AirSwap Token Trader. You put up your token, and if there is anyone out there who agrees to your terms, your transaction can proceed safely without any third-party involvement. These are peer-to-peer transactions executed using MetaMask or Ledger wallets.

AirSwap is a decentralised exchange (DEX) built on the Ethereum blockchain. This DEX allows peer-to-peer token trade between parties, executed via an Ethereum smart contract to fulfil the order.

AirSwap was founded by Michael Oved, Sam Tabar, and Don Mosites. These three are also the co-founders of AirSwap’s parent company, Fluidity.

History of AirSwap (AST)

AirSwap was founded in 2017 as a joint venture between ConsenSys and Fluidity with the goal of creating tools to enable traders and developers to interact with and build their own solutions on top of the protocol. The company was founded concurrently with the release of the Swap Protocol whitepaper which details the architecture behind Airswap. It removes the need for an order-book since traders are exchanging tokens in a peer to peer fashion through an atomic swap using an Ethereum smart contract. Since there are no order-books there are also no trading fees. In addition to this functionality, AirSwap offers over-the-counter trading for less liquid tokens as well as non-fungible tokens (NFTs).  

Primary features of AirSwap

  1. Decentralised wallet access: No AST asset resides on the AirSwap network; instead, they reside safely in users’ wallets, giving them total control and safety. This feature is critical with increasing instances of exchanges being hacked all around the globe.
  2. Combatting front running: The AirSwap Trader matches users via an indexer protocol but does not provide trade information. This prevents front running and allows users to discover other users privately to negotiate and trade with.
  3. AirSwap Indexer: Functioning as a search engine, it gives public counterparty information. Traders can then get in touch with counterparties privately based on this information.
  4. AirSwap Oracle Protocol: This protocol gives traders real-time market data on current prices and demand and supply.
  5. Swap Protocol for transaction-free trading: The Swap protocol enables peer-to-peer ERC20 tokens trading. It helps parties interested in exchanging tokens to arrive at an exchange value and then trade tokens. Because it bypasses the central exchange system and the need for order books and ledgers, transactions on AirSwap are free.
  6. AirSwap Spaces: AirSwap Spaces are rooms where users can post messages regarding the tokens they want to trade. Spaces provide a chat facility where users can negotiate as well as execute encrypted and private trades.

AirSwap coin (AST) Protocols

At the protocol level, each swap is between two parties, a signer and a sender. The signer is the party that creates and cryptographically signs an order, and sender is the party that sends the order to the Ethereum blockchain for settlement.

Request-for-quote (RFQ) is an automated request-response protocol for market makers running web servers from which clients request orders via JSON-RPC over HTTP.

Last Look (LL) is an automated streaming protocol that allows market makers to stream pricing to clients via JSON-RPC over WebSocket, which in turn submit orders to the server for settlement.

Over-the-counter (OTC) is trading between known counterparties via chat applications or email using AirSwap for settlement. Some of the largest trades in DeFi have been made on AirSwap OTC.

AirSwap (AST) Principles

Decentralized governance starts with shared principles to align our decision-making.

  1. Design for simplicity : Perfection is achieved when there is nothing left to take away. This is especially true with blockchain based technology and applications.
  2. Prioritize security : Our work is done in an adversarial setting. While blockchain requires users to take security into their own hands, they trust AirSwap to be designed and to operate in a secure way.
  3. Decide with data : Drive decisions with data that matters. AirSwap performance indicators are trading volume, token holders, community engagement, and tokens used for governance.
  4. Seek opportunity : Decentralized finance is abundant with opportunities. Seek and prioritize opportunities that positively impact both AirSwap and the broader ecosystem.
  5. Win together : Our community spans platforms across cyberspace and countries across the globe. We grow by both sharing responsibility and celebrating each success.

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