AirSwap provides trustless peer-to-peer trading between counterparties, without the need to give up custody, pay trading fees, or sign up for an account. The design resembles RFQ, where automated makers provide prices via API to everyday traders. While this functionality works seamlessly and has allowed the network to grow, adding tokens and setting prices on the network has been limited to those able to run automated makers.
With the introduction of AirSwap Delegates, everyday traders can configure on-chain trading rules, removing the need to develop and operate complex maker software. Delegates enable new powerful features through on-chain limit orders, the ability for anyone to add new tokens to the network, and for dapps to integrate with a new on-chain liquidity source.
On-Chain Limit Orders for Any Token
Through an intuitive interface, Delegates allow any trader to add rules that specify the size and price for a particular token. This functionality will look very similar to a limit order on a centralized exchange. The liquidity is integrated into the AirSwap network and can be accessed directly from the instant.airswap.io frontend, as well as any other dapp integration.
Add a New Token in 3 Simple Steps
Users can connect their wallet, select a token, set a price, and start trading.
On-Chain Liquidity Integrations
On-chain liquidity in the ecosystem has recently seen significant growth. Delegates enable deep integration with AirSwap liquidity, discoverable and directly queryable by smart contract trading systems. Kyber liquidity can flow through to AirSwap, and AirSwap Delegate liquidity can become a reserve on Kyber. We invite ecosystem projects to integrate with this new on-chain liquidity source.
More Makers, More Tokens, More Liquidity
Delegates remove a major bottleneck to being a maker on the network. Previously, only professional traders with the ability to write and run maker software could provide liquidity. With Delegates, we’ve created an intuitive interface and protocol functionality for limit orders to be stored on-chain. We expect the removal of this bottleneck to increase the number of makers on the network.
Delegates make it easy for everyday traders to add new tokens to the network–all without giving up custody of their tokens. Previously, adding a token would require automated maker software. With Delegates, a friendly interface will allow anyone to add any token with a few simple clicks. We expect the ability for anyone to add tokens to the network will increase the number of tokens available on the network.
Delegates enable new ways to trade and enable more “trade loops” to complete. For example, a manual trader can now add tokens to the network, with a specific price, and that limit order is propagated to the AirSwap frontend so manual takers can compare the price against other manual or automated makers. By increasing these “trade loops”, we increase the amount of orders that are stored and aggregated on-chain, which gives more competitive options to takers. More trading possibilities for both makers and takers creates a virtuous cycle, resulting in more liquidity on the network.
Enabling Frictionless Trade
With Delegates, we’ve introduced a new component of the AirSwap system, intercompatible with existing components, and extending into a new kind of liquidity that enables everyday traders to easily add their tokens and set their prices. Delegates are critical to growing a network that empowers the world with frictionless trade.
Set up your Delegate at https://instant.airswap.io/delegates and let us know what you think. We’ve prioritized ease of use and are actively collecting feedback. If you have any ideas or questions about Delegates, join us on our Discord at https://chat.airswap.io/.
AirSwap enables peer-to-peer trading on the Ethereum blockchain. Built on a decentralized protocol, traders can add or remove liquidity through a suite of trustless products that are easy to use and free. Our mission is to empower the world with frictionless trade.