AirSwap Spaces for OTC

With the Swap Protocol, AirSwap’s Ethereum-based “atomic swap” smart contract allows traders to settle ERC-20 and ETH transactions without the need of a trusted third party or escrow. This streamlines and optimizes the transaction process, which traditionally requires an extensive amount of documentation and verifications to ensure both parties are confident with the delivery of their assets.

Following the recent onboarding of QCP Capital, Grapefruit Trading has become the second professional OTC desk to create a Space. Some of you may recall the $364,893 DAI for ETH transaction reported by @AirSwapBot on Twitter, an OTC transaction completed on Spaces.

Grapefruit Trading on AirSwap

In light of these recent trades, we took the time to chat with the team about their experiences on the platform.

AirSwap: Let’s kick off with an introduction.

Grapefruit: Grapefruit Trading is a proprietary cryptocurrency trading firm based in Miami with offices in Chicago and Hong Kong.

AirSwap: U.S. and Hong Kong, just like us. Who’s on the team?

Grapefruit: Although we have only been operating since March 2018, Grapefruit has a team with a wealth of knowledge in cryptocurrencies. Our head Mike Komaransky has been a leader in the industry since 2014.

AirSwap: What services do you provide?

Grapefruit: We provide liquidity services such as over-the-counter trading and market making for exchanges as well as individual cryptocurrencies. Our most popular markets are Bitcoin and Ethereum, but we also provide markets for most of the tokens in the top fifty and many outside the top fifty. Whether you’re an investor looking to change a position, an ICO looking to trade crypto for fiat, or seek a high touch experience, Grapefruit can help you.

AirSwap: What benefits have you found to trading on AirSwap Spaces versus other methods?

Grapefruit: We like being able to post our intentions to a marketplace and being able to negotiate markets with the in-app direct messaging. As well, having an escrow system in the messaging channel helps our counterparties feel safer. Our policy is to send second if the funds aren’t being escrowed.