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.
AirSwap is similar to other decentralized exchanges such as Uniswap but with several key differences.
Uniswap is an automated market maker (AMM) that runs fully on-chain whereas AirSwap is a request-for-quote network (RFQ) that runs as a combination of off-chain (peer-to-peer negotiation) and on-chain (settlement by atomic swap).
There are benefits to each. With AirSwap there is no price slippage and trades are unlimited size. The trade-off is that it’s easier for everyday users to provide liquidity to Uniswap. However, a successful outcome for RFQ is a few high quality liquidity providers covering a variety of digital assets, so AirSwap does not require the same level of democratization as Uniswap for the network to be liquid.
AirSwap has been implemented in Metamask Swap which is currently responsible for around 97% of the volume on AirSwap. Every time AirSwap is used to trade in metamask, a 0.3% fee is taken and sent to a rewards contract.
The AST token can be staked which enables you to participate in governance of the protocol. If you are invested in the token, you should help participate by proposing, discussing and voting on the various AIPs to help move the platform forward.
In doing so, you will be rewarded with points based on the size of your AST stake. The points can be used to claim a portion of the funds from the rewards pool. The current fee reward structure is the subject of an upcoming AIP.
You can follow this useful tutorial: [Guides] How to Stake AST with MetaMask