As 2021 comes to a close, we review the AirSwap DAO and AirSwap DEX. Read more for a look at the year gone by and a peek into 2022.
State of the DAO
AirSwap DAO launched in early 2021 with the release of new staking smart contracts and a new decentralized governance portal. Since then, 56 AirSwap Improvement Protocols (AIPs) have been authored, of which 23 have gone to vote and passed.
AirSwap DAO was established by the community, formalizing its processes and establishing a regular cadence for voting and claiming. 356 wallets have staked around 18M AST to participate in AIP votes, and by contributing to the process, were rewarded with more than $1.2M in protocol fees.
Contributor rewards were also established, attracting a variety of talented contributors including designers, developers, and ambassadors. Around 15 people regularly contribute each month to AirSwap. This year, these contributors have helped to deliver a high quality peer-to-peer DEX front-end marking the first product built by the AirSwap DAO.
State of the DEX
This year, over $1B in value from 100K swaps safely passed through AirSwap smart contracts. The MetaMask front-end integration remains the largest contributor, accounting for around $900M transacted. OTC swaps through https://trader.airswap.io accounted for another $136M. In total, more than $1.2M were collected in protocol fees, of which 97% was distributed through community contributor rewards so far.
This November, AirSwap also launched its first community-built product. The new web app combines the power of the AirSwap RFQ protocol with a new Last Look protocol, which enables users to trade without paying gas. Instead, transactions are handled by professional trading firms, simplifying the swapping process. Since launch, around $200K in value has transacted through the web app. AirSwap contributors continue to develop new features including support for other chains (Avalanche, here we come!), integrations with other wallets (Gnosis safe integrations anyone?) and more exciting things (hint: fee discounts for community members).
Onwards to 2022
We have plenty of things to be excited for next year, including new products and features uniquely enabled by P2P protocols. New strategies will focus on supporting DAOs and NFT communities. AirSwap can make space for creators to interact more closely with their communities — enabling frictionless swapping of DAO tokens, NFTs, social tokens, and more.
If you’re interested to join the AirSwap community, head over to our Discord to learn more. We look forward to seeing everyone in 2022!