AirSwap is a decentralised network that allows fast and free peer-to-peer trading of tokens. Built on Ethereum, the Airswap decentralised exchange (DEX) uses smart contracts to allow Over-The-Counter (OTC) trading of any tokens in any amount while utilising trustless escrow. This allows users to swap any token at a customised, agreed-upon price and quantity without the need for the unnecessary risks involved with third-party escrows. AirSwap is an intuitive, easy-to-use, and secure Ethereum DEX that enables global, frictionless trades without fees, deposits, or the need for personal information. AirSwap introduces the Swap protocol for a true peer-to-peer token trading ecosystem and utilises off-chain oracles to deliver token pricing information for token swaps. AirSwap also uses an off-chain indexer protocol to match trading peers. These features remove the need for an order book and enable fully private trades. Through staking of the native AST token, anyone can be a liquidity provider on the AirSwap DEX.