The Swap protocol, a decentralized, P2P protocol for trading Ethereum tokens, announced the launch of its token, AIR*, and its token trading platform, AIRSWAP. On October 10, 2017, AIR will be available for purchase in ether. The launch will be a demonstration of the Swap protocol in action as AIR will be sold exclusively through the Swap peer protocol and decentralized exchange smart contract. A percentage of AIR tokens will be reserved for Swap Beta program participants. The Swap protocol and AIRSWAP are being developed in partnership with the venture production studio ConsenSys.
Swap also announced that Mark D’Agostino, a managing partner at ConsenSys Enterprise, as an advisor, will advise the Swap team on their legal structure as well as the token design and launch.
“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 exists because of the honeypots inherent in centralized exchanges,” predicted Mark D’Agostino. “The Swap team has a track record of success and will help showcase the power of a Web3 enabled world.”
AIRSWAP aims to become a globally accessible trading platform that implements the Swap protocol; its AIR token is reportedly 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,” shared Swap protocol Co-Founder Michael Oved.
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.
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*The token has been rebranded AST per an email received in early October from the platform.