Blockchain is difficult, while AirSwap is easy. The new DEX we’re going to talk about today, Airswap, presents itself with a striking phrase. A simple name and modern design that will help you navigate the world of decentralized finance in a truly elementary way. So what is AirSwap really about?
AirSwap: The introduction
AirSwap is a fantastic peer-to-peer platform devoted to trading ERC-20 tokens, those famous tokens built on the Ethereum platform that peaked in December 2017 (before the famous crypto fall of January 2018). AirSwap is a decentralized platform, commonly known as DEX, as it does not control and will never control the funds of its customers, it only acts as an intermediary between users helping them exchange tokens in simplicity and security. All this is made possible through smart contracts, i.e. contracts that are able to check that both parties have completed their trading operations before authorizing the actual exchange of tokens.
Why use AirSwap?
- 1) Above all, it is important to know that many DEXs, like AirSwap, are free of charge. By contrast, traditional exchanges feature Fees which sometimes are very high even when trading a few dollars. Traditional Fees are 0.20%, but less known exchanges are able to apply even 5 times as much. Especially for automatic swaps, where the fees are really absurd. With AirSwap this problem does not arise as it is a DEX without Fees.
- 2) No deposit required! This is my favourite feature of AirSwap and many other decentralized exchanges. The fact that there is no need to deposit funds represents a high level of security. No one can ever steal your tokens and you can freely exchange them for other tokens without entrusting your assets to anyone else!
- 3) No registration is required. Nowadays people have to register simply to comment on an article on some blog. This nuisance doesn’t happen with AirSwap because you don’t need an account to use the services hosted on the site. All you need to do is connect your wallet and start trading. Forget the usual alphanumeric passwords with symbols, upper case, lower case and various obligations!
- 4) Very simple to use and safe. These 2 features are often underestimated, but AirSwap, like many other modern DEXs, is really easy to use even for users who are not cryptocurrency experts. And besides having modern and clean designs, sites like AirSwap are well protected as they invest a lot in security before they appear online.
The problem with DEXs, as we often reiterate here at deFi.cx, is liquidity. In this case, however, it seems that even this problem is not present thanks to the great liquidity always available with large orders and no spending limits.
To offer transparency to its users, AirSwap also features an explorer where it is possible to follow all the swaps executed but also the total volume of the last 30 days, as well as the volume of the last 2 weeks or the volume of the last 7 days. It is also possible to analyze the difference in volume between Instant SWAP and AirSwap OTC. Finally, it is also possible to see the top traders and their trading volume! Things that seem trivial but increase the credibility of a DEX in a truly exponential way!
But how was AirSwap born?
It is worth noting that the idea of the project started several years ago, precisely in October 2017 when there was the sale of the AST token (The AirSwap Token) collecting 33,000,000 dollars in the ICO phase. Some news arrived after 1 year, in October 2018, but the actual DEX only arrived in January 2019, continuing to be updated month after month until it became a real giant in its field. For those interested in the numbers, 150 million tokens of the 500 M of total supply were sold during the ICO.
The AirSwap Team
The Co-Founders of the AirSwap project are Michael Oved, Sam Tabar and Don Mosites. All three are also involved in another project: Fluidity. This company is in charge of connecting traditional finance with decentralized finance, so the team is really well prepared when it comes to DEXs and similar projects. To follow the project we suggest you to become followers of their official Twitter account and subscribe to the Medium blog where they constantly publish news and updates.