Proposal: Onboard AST with 50,000 BNT trading liquidity limit

Proposal to Whitelist Airswap (AST) with 50,000 BNT trading liquidity limit

For this proposal to pass, it requires a 35% quorum and 66.7% supermajority.

This proposal is expected to appear on Snapshot for voting on 2022-01-16T00:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.


  • Proposal to whitelist AST.

  • Trading liquidity limit of 50,000 BNT.

  • There are no security concerns that could prohibit whitelist status.

  • There is no reason to doubt the legitimacy of the AirSwap project. AirSwap is an open developer community focused on decentralized trading systems. AirSwap contributors are compensated through Coordinape, and stakers are rewarded with a share of the protocol fees.

  • The benefit to Bancor is clear. Providing AST liquidity will attract token LPs from AirSwap to swap on Bancor, and increase protocol trade volume.

Token Address: 0x27054b13b1b798b345b591a4d22e6562d47ea75a

Project Website: Airswap


The Deepest AST pools are:

The AST/ETH Uniswap v2 pool with $303,320 liquidity and a 7 day average APY of 5.54% [1].

The AST/ETH 70%/30% Balancer pool with $276.6K liquidity and an APY of 0.99% [2].

A trading liquidity limit of 50,000BNT opens up space for at least $314k of liquidity in the pool, with BNT at $3.14. If the pool fills up, a trading liquidity limit increase may be proposed.

Token Security

AST does not have an elastic supply, or rebase mechanism. The AST token has a max supply cap of 500,000,000 AST. Contracts are standard ERC-20 OpenZeppelin contracts. The contracts don’t have any permissions that grant administrators unrestricted mint/burn capabilities. The administrator rights have been revoked by setting the “owner” to 0x000000000000000000000000000000000000dEaD so the token isn’t pausable.

AST has an S3 “Medium” safety score on Valid Network .

The top 15 contract and addresses with the highest concentration of AST are the DAO Multisig contract, staked AST sAST contract, locking and proxy contracts, distribution wallets, Binance, Huobi, and wallets with 0.7000%, 0.6159%, 0.4257%, 0.2947%, and 0.2644% of the supply.

Figure 1 - Top 15 contract and address with the highest concentration of AST [3]


AirSwap is an open developer community focused on decentralized trading systems. AirSwap technology powers peer-to-peer networks using de facto standard RFQ and Last Look protocols making it the top choice for traditional market makers entering the decentralized financial system.

Our vision is a future where all forms of value are represented as digital assets and flow freely and reliably among people and communities around the world. Our mission is to become the standard peer-to-peer trading system: a fundamental primitive of the decentralized economy.

AirSwap is accessible , equitable , and transparent . Every participant and contributor is treated fairly and rewarded consistently. All opportunities are inclusive and available. Decisions are made in the open and contributions are open source. New information is continuously and actively shared throughout.

There are lots of ways to get involved in AirSwap, from generating ideas, to coordinating projects, contributing design and code, and helping to spread the word. Contributors have the flexibility of deciding how they want to contribute to AirSwap and be rewarded each round.

  • Vote - Stake AirSwap Tokens (AST) and vote on the future roadmap of AirSwap

  • Direct - Draft and propose new projects and protocols for the community to vote on

  • Develop - build new features and products which have been voted in by the community

  • Deliver - bring community-built software to a wider audience

More information can be found on the AirSwap GitBook.


AirSwap itself is a community asset owned by its token (AST) holders, operating as an open project with a transparent decision-making and product development process. Both the network technology and organization aim to be maximally decentralized. Community members stake AirSwap tokens (AST) to participate in governance and other community activities and benefits. Ideating, drafting, voting on, and accepting proposals is an open process.

Community and Communication

AirSwap is active on Discord and Telegram. The AirSwap team also operates an official Twitter account. The AirSwap Github shows consistent activity, with the latest commit happening on the 7th of January, at the time of writing.

Available Audits

AirSwap token contract and exchange contracts have been audited by Nick Johnson and Phil Daian and can be found here.

Market and Trading Data

  • AST’s price at the time of writing is $0.24.

  • All-time high: $1.85 (9th Jan, 2018).

  • All-time low: $0.00718622 (13th Mar, 2020).

  • Price 90 days ago: $0.256255.

  • 172,262,388 AST in circulation, with a maximum and total supply of 500,000,000 AST.

  • The current market capitalization is $40,597,553.

  • The AST token is available on Uniswap V2 and Balancer.

[1] Uniswap Info

[2] Pool management - Balancer

[3] $0.18 | AirSwap (AST) Token Tracker | Etherscan


Question, is someone from the airswap team involved in this proposal? @agrimony


hey, yep! I’m a contributor over at Airswap. We have a couple of other guys also involved in talks with Bancor.

This proposal is in fact a follow up to our previous proposal to introduce more on-chain liquidity to AST. From that, we have been talking to several projects to see which platform can suit our needs best.


You have my vote. If the Airswap team is involved, it’s a good sign.


Quantity (Token) : 327,737,611.3811, Percentage: 65.5475%

What is this contract?

Looks like the msig, but what is the destiny of these tokens?

1 Like

Yep correct. That’s the msig.

We had a specification last year allowing its use in the following ways:

10% Dev
15% Growth
5% Marketing

Since then, we have used part of that budget to fund allocations of a contributor Coordinape pool to attract people to join our DAO.

New use cases of the AST (e.g. providing liquidity on Bancor) will have to go through an AirSwap governance vote.


So looks like 30% of the total token supply is to be allocated for these activites.
The remaining 70% locked is a very large number.

Remaining 229.39M AST to be locked for 3 years or subject to future community votes.

I just want to be certain I understand this correctly:

  • Can the DAO vote to unlock all 230M AST if they choose to?
  • Can the DAO decide to unlock any amount of these tokens at any time?
  • If the DAO does not decide to unlock them, what happens after three years?
1 Like

Can the DAO vote to unlock all 230M AST if they choose to?
Can the DAO decide to unlock any amount of these tokens at any time?

Theoretically they could vote to do so (e.g. if someone does a 51% attack on the DAO). But the vote itself is a signal rather than a hard governance decision since voting is done off-chain. AirSwap itself is stewarded by ConsenSys, so there is an additional layer of checks in place.

If the DAO does not decide to unlock them, what happens after three years?

That would be a question for the future DAO to decide. The AirSwap core mission and vision will remain the same, to build high quality decentralized p2p trading protocols to support the ecosystem. The crypto space moves very fast, and its tough to project what the space might look like in 3 years time.