AirSwap AMA Recap – Ask Me Anything

On Monday, February 15, Don Mosites, (co-founder of AirSwap), Joined an AMA hosted by Murat on Discord. He answered questions regarding the New AirSwap, AIPs, Defi, upcoming updates, and much more.

Murat (Tokensfund.io)

Hello, @everyone Welcome to the AMA! Please welcome @dmosites, co-founder of AirSwap and team lead at ConsenSys Codefi, Our Awesome guest!

dmosites

Thanks @Murat (Tokensfund.io)!

Murat (Tokensfund.io)

Q1 – Please introduce yourself & tell us a bit more about the new AirSwap!

dmosites

Sure thing. Hey everyone, I’m Don, have around 15 years experience in early stage technology companies, some as a founder, and am an engineer by trade. Co-founded AirSwap a few years ago with a friend from CMU who caught the Ethereum bug around the same time I did in 2016, Michael Oved. He was a partner at Virtu Financial and met some of the ConsenSys folks that summer and started jamming on some ideas around decentralized exchange. So we got right to work.

AirSwap has come a long way since then, but was always based on the idea that peer-to-peer trading, via request-for-quote (RFQ) and over-the-counter (OTC) protocols was fundamentally the most natural design for DEX.

This was before AMMs like Uniswap came along, which turned out to also be a powerful approach. we see the two working together in tandem to cover the full spectrum of decentralized liquidity.

Nowadays, with the tech evolving quickly, the new AirSwap is all about you. It’s both a decentralized trading protocol and a decentralized organization, open to participation from anyone who would like to contribute and earn for their time and effort.

With the new organization there are incentives to propose new work, vote on proposals, and contribute to open source development. So, welcome everyone to the new AirSwap.

Murat (Tokensfund.io)

Q2 from @WenWen – When rewards for early AirSwap adopters?

dmosites

Thanks, WenWen for the question! There was a proposal at the beginning of AIP (AIP 2 in fact) that was for an airdrop for holders. After a lot of spirited discussion, the proposal did not succeed though the margin was narrow. It’s possible there could be rewards in the future but it’s up to the community.

Murat (Tokensfund.io)

Q3 from 0xmo – Having only BTC pair on Binance has been a big hurdle for trading efficiency as USDT is the standard nowadays. Are there plans to add more pairs on Binance and also list on US-based exchanges?

dmosites

Hey 0xmo, thanks for your question! Understand where you’re coming from. The project doesn’t engage with Binance or other exchanges regarding the AirSwap token. Anything related to listings is a decision for those exchanges.

Murat (Tokensfund.io)

Q4 from CryptoPundit – While we are getting a good volume of trades from MetaMask, and the opportunity to earn rewards from the fee pool is awesome, is there a plan to relaunch a new trading site that can also generate fees for the community? The current AirSwap website offers swapping with no fee, which honestly is not helping adoption. Free doesn’t really drive adoption, you need vested parties.

dmosites

Thanks @cryptopundit that’s a great observation and I agree there’s an opportunity to refresh the AirSwap frontend with the latest protocols and tech, including the protocol fee to support the incentives of AIP and beyond. A new AIP for a fresh AirSwap UI is likely to arrive soon.

Murat (Tokensfund.io)

Q5 from khan – is AirSwap acquired by ConsenSys? What’s about the circulation supply is there any plan to increase it in near future?

dmosites

Thanks khan! AirSwap was created by a company called Fluidity, which was merged into ConsenSys last year. AirSwap is now under the stewardship of ConsenSys and has lots of brilliant people contributing to the project. As for the token, AIP 10 was recently passed by the community that breaks down a proposed use of the AirSwap token treasury: https://github.com/airswap/AIPs/issues/10

Murat (Tokensfund.io)

Q6 from xJJ – Are we going to see staking in Binance?

dmosites

Hey @xJJ thanks for your question, that would likewise a decision for Binance.

Murat (Tokensfund.io)

Q7 from sanjog – one single address is holding 65.55% of AST, can u clarify that?

dmosites

Thanks for your question @sanjog that’s the address of the AirSwap multi-signature wallet. You can see more details on how that breaks down on AIP 10 above.

Murat (Tokensfund.io)

Q8 from alperen – What is your progressive plan to ensure that project remains relevant and valuable in the next 5 years?

dmosites

Thanks @alperen, the best way to stay relevant and valuable is to be open, transparent, and maximally nimble. It’s a fast moving space. The core idea of AirSwap has persisted as the ecosystem has matured, and will continue to as new forms and techniques of peer-to-peer trading emerge. Ultimately the best way to continue to win is to capture and execute new ideas as an open organization.

Murat (Tokensfund.io)

Q9 from PM – Are you looking into integrating IMM? (Intelligent MM)

dmosites

I’m not familiar with IMMs but would love to learn more @PM!

Murat (Tokensfund.io)

Q10 from dudebro – What drives the swap function on MetaMask? Is it the AirSwap indexer protocol or MetaMask? This feature is amazing, and I think it’s via the AirSwap indexer. Am I wrong here? Is MetaMask actually finding the best market? Both AirSwap and MetaMask are super valuable, but who gets the value credit here?

dmosites

Hey dudebro, MetaMask aggregates information from a variety of sources. From AirSwap specifically, it’s using the AirSwap Indexer protocol to fetch the locations of AirSwap LPs and request orders from them in a single automated request. That said, MetaMask Swaps (and most swapping features) behave like RFQ, so AirSwap is a natural fit. MetaMask Swaps is actually a collaboration between the MetaMask team and several current and former AirSwap contributors including @Gal on product, @Sam Walker on aggregation, and @ejwessel on smart contracts.

Murat (Tokensfund.io)

@dmosites Thank you for such detailed and interesting answers! It is time to move to the community questions part.

dmosites

Sounds good!

LobsterFries

Hello dear AirSwap, Activity, MetaMask and ConsenSys team. Who is cryptohamilton, we didn’t hear from him anymore. What is he doing? And will there be a rebrand since AirSwap changed?

dmosites

@CryptoHamilton focuses on community building at ConsenSys and supports the AirSwap community and other teams within the mesh like MetaMask and Codefi. You’ll certainly be seeing him around, be sure to say hi sometime!

PM

Took this question from twitter: What if $AST token will be rebranded to @metamask_io token. By this simple marketing change, it can increase adoption as everyone in DeFi sector know what is Metamask but not so many know what Airswap is. Is it in the interest of @Consensys and can this rebrand go through DAO voting? Sometimes greatest solution – is the simpliest

dmosites

This has been discussed a couple of times here, thanks for your interest. It’s a neat idea but is beyond the scope of AirSwap at this stage.

whalepanda

Great AMA guys! 1. Any plans to support binance smart chain? given it’s quite similar to ETH and MM already supports it? Swaps on bsc are growing fast!

dmosites

Good question I’ll check it out.

VladislavW

What math is behind AirSwap fees pool? What % from the trades made on AirSwap through the MetaMask get into the reward pool?

dmosites

0.3% of every AirSwap trade through MetaMask goes to the community pool, which you can track at https://app.zerion.io/0x7296333e1615721f4Bd9Df1a3070537484A50CF8/overview

Shine

Hi 1/ How can i stake more AST with the same adress? 2/Can airswap use ESDT (Elrond)?

dmosites

You can certainly continue to stake your AST. I’m not familiar with Elrond but will check it out.

sai

Q1 – we have a great product… but very little recognition…any marketing in works? Q2 – will we see more exchanges?

dmosites

Onward and upward. Tune into the #🚀marketing channel for progress here and keep an eye out for our new community discourse site where we’ll coordinate on growth and marketing efforts.

BrDreamin83

Did we see a large drop off in swap volume when the fee was introduced and are we planning any experiments with the fee %

dmosites

The fee has not had a material impact on volume but we should be watching that closely as it’s an important trade-off.

2x

How many LP are currently using AirSwap? Has consensys plans for AirSwap or is it up to the community?

dmosites

Assume you’re asking about RFQ servers. There are 2-3 bigger servers online and 1-2 that have plans to get set up in the near future. As we’ve chatted about before, a success for RFQ is a few servers covering a variety of assets, so it doesn’t take full democratization of LPs for the network to be liquid.

ConsenSys is always looking to develop and grow AirSwap. Whether by technology integrations like MetaMask Swaps, Codefi Activate, or Codefi Markets, community building efforts like hackathons and events, social media campaigns and support, ConsenSys is both the project steward and a major contributor. So many brilliant people at ConsenSys have and will continue to contribute to the success of AirSwap. The plan is to win.

Murat (Tokensfund.io)

That’s it! thank you everyone for joining us today! Specially @dmosites thank you again for taking your time today! See you all again at another event soon.

dmosites

Thank you for hosting @Murat (Tokensfund.io)

If anyone ever has questions, you know where to find us. Thanks all for joining in!

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