Airswap – the decentralized p2p trading protocol – is planning on a major revamp in early 2021, based on this announcement there seems to be major changes coming to the protocol from a smart contract, tokenomics, and even branding level.
New year, new AirSwap! ?? Three launches this month: new contracts, new tokenomics, and a brand new website. The AIP open development process revving up with incentives to both participate and contribute, so get ready to trade, vote, and build. THREAD ?? pic.twitter.com/mIzld9ANhd
— AirSwap (@airswap) January 5, 2021
As a quick refresher, AirSwap enables it’s users to make slippage-free atomic swaps in an non-custodial manner, it works alongside other decentralized exchanges such as Uniswap. The major changes coming this month were first announced back in November. A detailed overview of the AirSwap Improvement Proposals that brought us to this point can be found here.
The most impactful of the pending upgrades seem to be the changes regarding the AST governance token. Going forward, AST holders will be able to stake their tokens and participate in AirSwap governance. After voting, participants are can claim from a pool of collected protocol fees based on their relative voting weight.
The smart contract upgrades coming later this week focuses mainly gas optimization. As we turned the corner and lifted into a bull market, Ethereum gas prices have also followed the uptrend. Uniswap transactions costing upwards of $50+ have not been uncommon over the last week. By offering lower transaction costs, AirSwap could see additional volume from the various exchange aggregators it is connected with.
There is also a new fee being introduced to the AirSwap protocol, 100% of the fees accrued through AirSwap trades routed through Metamask will go to AirSwap governance participants. METAMASK is currently charging 0.875% on trades that route through AirSwap.
The AirSwap website will be getting a front-end refresh that aims to simplify the AirSwap story and make it a more beginner friendly starting points for users that have no idea how AirSwap actually works. AirSwap token holders can also look forward to a brand new governance portal that was built in partnership with the ConsenSys team. This new governance portal will make it easier for community members to explore different proposals, vote, and claim rewards for their contributions.
To keep up with AirSwap, follow them on Twitter.
Business Development and Operations at TrustToken – TUSD. Jack is a startup generalist and DeFi enthusiast. Stay connected with him by following @HHJackSun on Twitter.
