Air Transfer is working on the initial wave of apps and tools built on top of the Air Transfer Protocol (ATP) to provide the developers, retailers and end users with payments swiss knives. In the following section, we’ll highlight these tools and the basic use case of each one.
Air Transfer is the developers, users and retailers Swiss Knife for cash-token-cash transfers.
User’s Swiss Knife
The most important use case here is the ability for users to liquidate their tokens to cash fiat directly from any nearby retailer like a post office, shop or remittance. The same applies for cash transfers, where a user can transfer cash to anyone across the globe. Cash transfers can be done directly from a user wallet as tokens-to-cash or cash-to-cash transfers for low fees in minutes.
A unique Web/Mobile wallet provides the users with an instant way to cash-out their tokens (any listed token). To cash-out tokens, there are two ways:
- User doesn’t have to create a wallet account for their ERC20 tokens, they simply can convert their owned tokens secured by their private key into cash using the Air Wallet wizard.
2. Users can create in-wallet accounts for all type of tokens, where they can transfer their tokens to the wallet accounts, then cash them out at anytime.
Also, for cash-to-cash transfers, users can use the wallet to find nearest sender retailers who can fulfil the transfer based on the amount and destination address. Next, the user goes to the retailer and hand over the cash. On the other side, a recipient goes to a receiver median to provide the secret key and take the cash. Users will have the option to transfer cash directly from the app using their stored tokens, credit card or a bank account.
Facilitator’s Swiss Knife
Between a sender & recipient, there are two medians, sender-median and receiver-median, those medians can be entities like retailers or individuals. They will be able to receive cash from senders and deliver cash to the other party by creating, completing and cancelling cash-to-cash transfers.
Web application to facilitate the median’s operations from the onboarding process and staking the 5% of the trade volume as per Air Transfer Protocol rules to full order management; create, complete and cancel transfers. In addition to invoicing, receipts and reports.
Developer’s Swiss Knife
Air Transfer Protocol (ATP) is an open protocol where developers can build their apps directly on top of it. However, most of the apps will need to give their users the ability to cash-out their tokens from within their apps, while others will come up with innovative ideas supported with a multi-million retailers network with huge cash liquidity pool worldwide.
Air Transfer Solution (ATS) will operate on the ATP multi-million retailers network composed from P2P entities across the globe.
An API to convert a given listed token to a stable-coin approved by the ATP through the best routes to find best conversion fees. Then, they can place a direct order into the Air Transfer Protocol directly.
A higher level API and notification service as a one-stop shop for developers to provide the cash-out functionality directly to their apps. Air Gateway is the developers’ tool for the ATP directly through a Restful interface where they can query for nearest medians who can fulfil a given order.After selecting a median, the Air Gateway will step-in to take x-tokens, convert them and places the transfer order into the ATP. Finally, the notification service will provide the order tracking and other ATP notifications.
This is Ahmad Elsokkary, founder of Air Transfer and I’d love to hear your thoughts! Please, stay tuned for more to come about ATP and ATS.