Easyswap began[when?] as an initiative of the city of Lausanne, Switzerland, to reduce social problems such as long-term unemployment and social exclusion.[1]
A working group, made up of welfare recipients recruited by the city's social services department, came up with the idea of a web-based project modeled on local exchange trading systems (LETS).[2] Their project was to serve two purposes: promote social inclusion by nurturing contacts between different societal groups and encourage the sustainable consumption of consumer goods.[3]
Administered by an eponymous non profit association, easyswap.org was officially launched in October, 2008.[4]
The swap is a virtual, complementary currency in use on the easyswap platform. The swap has a "theoretical value" of one Swiss franc[6] and cannot be bought or sold using any other currency.[7] Its value is determined by individual members who are free to set their own prices.[8]