AirSwap — ICO Review

Token: AST

ICO: October 10th 2017

https://airswap.io/

“Swap is a protocol to facilitate a true peer-to-peer ecosystem for trading tokens on the Ethereum blockchain”

TOTAL 16.5 / 25

1 Business opportunity: 3.5/5

Why?

There is a need to exchange ERC 20 tokens in a fast manner. Kyber & 0x came into play for that purpose. However it looks like this platform would be more focused on high amounts.

The coin is used to pay for the transactions made via AirSwap.

What?

Simple idea on how it works: trade negotiation off-chain in order not to overload the blockchain and when there is an agreement the trade is done.

  • Maker: the party that provides an order
  • Taker: the party that fills the order

When negotiations are done, the Taker calls the Contract in order to finish the transaction

An Index is built in order to aggregate the orders.

An Oracle protocol is done in order to provide information on pricing for Makers and Takers.

Classic blockchain advantages for this scheme:

  • Decentralized
  • More secured

Main competitors are: 0x, Kyber Network

0x and Kyber are here to solve the centralisation issues with traditional exchanges like Bittrex or Bitfinex while Airswap is here to solve the centralisation issue of Shapeshift

2 Technology: 2.5/5

Whitepaper: https://swap.tech/whitepaper/

Very concise whitepaper. It explains how the system would work. No real technical explanations but they released smart contract examples on their github.

3 Team: 3.5/5

Founders do not seem to have any experience in the blockchain industry before that. Team neither.

4 of their 5 products are planned to be released Q1 2018. The last one is to be released in Q2 2018.

Github with smart contracts examples already available.

Advisors: BIG names:

  • Joseph Lubin — Co-Founder of Ethereum and Founder & CEO of ConsenSys
  • Brock Pierce — Co-founder of Block.one, Blockchain Capital and Chairman of the Bitcoin Foundation
  • Prof. Mina Teicher — Former Chief Scientist of Israel
  • Erika Karp — CEO of Cornerstone Capital

4 ICO details: 4/5

ICO: 47k ETH — around $14–15 million

In pre-sale ended on the 3rd of October they raised over $20M with 10–30% discount on tokens. It represents 70% of the tokens for the TGE.

Among pre-sale buyers: Kenetic Capital, Blockchain Partners Korea, FBG, Smart Contract Japan

According to their medium, they could have sold everything during pre-sale but they wanted to spread the token to the whole community.

In total, around $35M.

5 Community & Communication: 3/5

3.4K on telegram

1K followers on Medium = Their blog

3.3K twitter

1K on Facebook

Trendy topics in the last few days since it is close to the ICO

6 Verdict

  • Short term: positive
  • Long-term: neutral: there are already many competitors on the battlefield. Advice: follow/track roadmap progress and announcements of 0x, Kyber and Airswap during the first weeks/months.

As the valuation of Kyber and 0x are resp. $235M and $100M. We can expect a x2 uplift at least short-term.


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