Peer-to-Peer Platform for ETH Token Trading in Betabr>
A new peer-to-peer protocol for trading ethereum tokens and a platform for those transactions is underway. AIRSWAP will be the launching pad for the token, AIR, but the token won’t be available for purchase until October.
Created by Swap, the launch is envisioned as a demonstration of the protocol in action, with AIR eventually being sold exclusively through the Swap peer protocol and decentralized exchange smart contracts. Because Swap is an open protocol, AIRSWAP will be able to support many permutations of peer-to-peer transactions, such as storefronts, marketplaces, and auctions.
A percentage of AIR tokens will be reserved for Swap Beta program participants.
As part of its launch, Swap also announced the addition of Mark D’Agostino, a managing partner at ConsenSys Enterprise, as an advisor. D’Agostino will advise Swap on its legal structure as well as the token design and official launch as part of an overall development partnership with ConsenSys.
“The Swap protocol will bring about greater decentralization to the crypto trading space, and I am excited for the reduced exposure to catastrophic exit scams and hacks that exist because of the honeypots inherent in centralized exchanges,” said Mark D’Agostino. “The Swap team has a track record of success and will help showcase the power of a Web3 enabled world.”
The AIR token is a token-license hybrid, providing access to the AIRSWAP trading platform and services while providing its holder the liquidity of an ERC20-compliant token.
“By designing the AIR token as a software license, we are able to operate the platform without collecting fees on trades. A third party collecting fees from counterparties goes against the ethos of peer-to-peer,” said Michael Oved, Co-Founder of the Swap protocol.
Because Swap is an open protocol, AIRSWAP will be able to support many permutations of peer-to-peer transactions, such as storefronts, marketplaces, and auctions.