AirSwap – the p2p trading protocol- has announced that it has completed it’s transition into a decentralized governance system along with other major changes.
Phase II transition complete! 🔷With a new organizing structure and decentralized governance process, AirSwap aims to be the world’s best peer-to-peer trading system. Join the AirSwap community on this mission by proposing, voting, and building. THREAD 🚀 https://t.co/JNykDaQq9c
— AirSwap (@airswap) February 9, 2021
Under this new structure, any users that propose new AirSwap Improvement Proposals become eligible for AST rewards, although successful proposals will be rewarded significantly more. Voting on these proposals will be done via a decentralized governance system that also includes incentives for active participants. These rewards are funded by a 0.3% protocol fee on AirSwap trades routed through Metamask‘s swap feature.
To participate in voting AST token holders must stake their tokens in the new governance portal on Codefi Activate. Unstaking AST tokens from the governance portal will be limited to 10% per 7-day period.
Once proposals have been voted on they are put into a backlog from which technical contributors can start to work on. Contributors here are also compensated through the AirSwap token treasury.
Keep up with AirSwap by following their Twitter.
Business Development and Operations at TrustToken – TUSD. Jack is a startup generalist and DeFi enthusiast. Stay connected with him by following @HHJackSun on Twitter.