AirSwap Partners with MakerDAO to Bring Stability to Ecosystem

AirSwap, a Brooklyn-based decentralized marketplace, announced its partnership with MakerDAO, a platform that controls and sells a US-dollar pegged stablecoin called Dai.

Live by the Sword, Dai by the Sword

The issue with many cryptocurrency exchange and marketplace platforms is that without a stable base asset, pricing assets against each other hinges on the lines between rapidly moving and chaotic. By adding a stablecoin, MakerDAO’s Dai, AirSwap will help encourage consumers to utilize various cryptocurrencies as mediums of exchange, rather than being pressured to game the market to increase or avoid the steep fall of their digital asset’s value.

The Dai Stablecoin is backed by collateral (regulated by MakerDAO) and holds a stable value relative to the US Dollar. Since Dai proves stable denominations for token trades, a decentralized marketplace like AirSwap only serves to benefit by offering its users a higher degree of stability (and optionality).

The MakerDAO whitepaper states that “Maker is a smart contract platform on Ethereum that backs and stabilizes the value of Dai through a dynamic system of Collateralized Debt Positions (CDPs), autonomous feedback mechanisms, and appropriately incentivized external actors.”

What This Means for AirSwap

AirSwap is one of the front-runners for a viable decentralized marketplace and has been growing at a rapid pace since its marketplace launched in April 2018.

With over $1 million worth of trades conducted on its marketplace in the first 24 hours, and with strategic partners such as Joseph Lubin, Bill Tai, and Mike Novogratz, AirSwap is a decentralized marketplace to keep your eye on.