Fundamental Analysis: Is Airswap (AST) doing anything different?

Airswap (AST) is a token exchange platform primarily focused on trading of ERC20 tokens on the Ethereum blockchain. Since the digital assets on Ethereum has increased exponentially in last one and half year, the team is aggressive about the use of blockchain based exchanges as the token trading will eventually increase. The team introduced Swap Protocol (youtube video). As per their whitepaper,

Swap is a protocol to facilitate a true peer-to-peer ecosystem for trading tokens on the Ethereum blockchain. The following is an extensible specification that supports efficient counterparty discovery and negotiations.

Airswap focuses on pushing many of the trading activities off-chain such as negotiation, finding counter parties and finally settling these trades on-chain.

What Airswap actually does? Airswap offers a peer-to-peer trading network with privacy and security. There would be no intermediaries as well as no trading fees. It allows users to browse tokens available on its network and directly connect with the sellers/buyers. Also, it offers price suggestions for the negotiations. It will allow trading and peer-to-peer exchange between groups, which opens avenues for marketplaces.

Seemingly, 2017 is the year for decentralized exchanges with likes of Kyber Network , Omisego, Tenx and many other. So, Is Airswap doing anything different? 

What’s interesting about Airswap?

The two things I liked the most about Airswap, first it provides zero trading fees on ethereum tokens and second, Joseph Lubin, (the co-founder of ethereum and founder of Consensys) as it’s Advisor.

Concept– It has a great concept and currently people are paying transaction fees for ERC tokens. Also, this would make the transactions faster as many of the activities will be done off-chain

Team- Airswap has major names of the industry their advisor team- Joseph Lubin, already discussed; Brock Pierce, Chairman of the Bitcoin Foundation, co-founder of Blockchain Capital, co-founder and Head of Strategy at and Erika Karp, CEO of Cornerstone Capital,, ex-MD and head of Global Sector Research at UBS Investment Bank.


Airswap has jumped into the niche of decentralized exchanges like many others we have seen around the year. I analyzed it’s peers or alikes to understand Airswap better…

Airswap Analysis.png

Green – Positive; Yellow – Moderate; Red – Negative

There are other exchanges launched earlier this year such as Monaco, Mobi. Though I have taken a few

Not much of benefit to the users as compared to its peer decentralized exchanges launched in last 6 months. Teams like Metalpay and Omisego have been able to do the same in very less funding raised. However, their existing market cap is way higher as compared to ICO sale. Hence, good returns to investors in ICO sale

Whats gonna increase Airswap adoption as an exchange over other peer exchanges?

Also as stated on a blog post, lack of clarity on oracle solution being used by the airswap

“The main issue here is that AirSwap is rather vague with specifics in regards to what oracle solution they will implement, and looking over their Whitepaper gives the impression that not even they are exactly sure of how they will tackle this problem. With all of the benefits of these kind of systems, AirSwap gives no mention to the drawbacks of oracle bribing and the possibility of altering price data to give a more advantageous trade to a third party.”


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