AirSwap unveils new features, including NFT, voter rewards

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AirSwap unveils new features, including NFT, voter rewards

On Tuesday, AirSwap unveiled several new features for users of its decentralized exchange, including a decentralized NFT marketplace, new over-the-counter trading features, and voter rewards.

The move to support a broader decentralized economy aligns with AirSwap's ethos, Mosites said in an exclusive interview with Decrypt.

AirSwap, launched in 2017 by Michael Oved, Sam Tabar, and Don Mosites, is a cryptocurrency exchange that allows people to buy and sell digital assets without a third-party intermediary. Fluidity, AirSwap's original developer, was acquired in May 2020 by the blockchain software tech firm ConsenSys. The last major update to AirSwap's decentralized exchange was launched in November 2021.

A decentralized exchange that utilizes smart contracts to facilitate trading between individuals but does not necessitate deposits before the trade can occur is known as a DEX. Uniswap, PancakeSwap, SushiSwap, Balancer, and Curve are just a few of the most popular decentralized exchanges.

While users of decentralized exchanges relish the advantages of their peer-to-peer networks, DEXs have become a favored target for cybercriminals.

In July, the U.S. Department of Justice charged Ahmed with defrauding an unnamed decentralized exchange and allegedly stealing $9 million in crypto in 2022. In August, RocketSwap, the second-largest decentralized exchange by trading volume, was hacked for around $866,500 after a private key was hacked on their servers.

Mosites said the new AirSwap platform also has a more robust OTC trading service, built by the development team to create a space for digital collectibles and design an open-source front-end that can be adapted by community members.

The AirSwap DAO is integrated with the AirSwap ecosystem. A DAO is a business structure where control is spread among members. DAOs use smart contracts, with participants using governance tokens to vote on topics like fund allocation.

In recent times, the DAO label has often been liberally applied in the Web3 space. Mosites insists that token-based voting remains at the heart of a genuine DAO.

The updated DAO voter rewards program by AirSwap aims to encourage community members to actively participate in the DAO and uses the popular decentralized voting system Snapshot to incentivize DAO activity.

Mosites explained that members traded tokens to gain voting power, and a portion of the protocol fees goes into a rewards pool for those participating in the decentralized governance of the DAO. Since 2021, AirSwap claims that more than 32 million AirSwap AST tokens from over 350 active members have been smashed to the current voter rewards system.

Mosites said there was no need for a war of words between Muslims and the rest of the world.