diff --git a/swap/src/asb/config.rs b/swap/src/asb/config.rs
index 24cecf2f..6e956f2d 100644
--- a/swap/src/asb/config.rs
+++ b/swap/src/asb/config.rs
@@ -105,8 +105,8 @@ pub struct ConfigNotInitialized {}
 pub fn read_config(config_path: PathBuf) -> Result<Result<Config, ConfigNotInitialized>> {
     if config_path.exists() {
         info!(
-            "Using config file at default path: {}",
-            config_path.display()
+            path = %config_path.display(),
+            "Using config file at path",
         );
     } else {
         return Ok(Err(ConfigNotInitialized {}));
@@ -148,8 +148,8 @@ where
     fs::write(&config_path, toml)?;
 
     info!(
-        "Initial setup complete, config file created at {} ",
-        config_path.as_path().display()
+        path = %config_path.as_path().display(),
+        "Initial setup complete, config file created",
     );
     Ok(())
 }
diff --git a/swap/src/asb/tracing.rs b/swap/src/asb/tracing.rs
index dd27194c..65a84970 100644
--- a/swap/src/asb/tracing.rs
+++ b/swap/src/asb/tracing.rs
@@ -21,7 +21,7 @@ pub fn init(level: LevelFilter) -> Result<()> {
         builder.init();
     }
 
-    tracing::info!("Initialized tracing with level: {}", level);
+    tracing::info!(%level, "Initialized tracing");
 
     Ok(())
 }
diff --git a/swap/src/bin/asb.rs b/swap/src/bin/asb.rs
index 8593ee5a..f1e5d90f 100644
--- a/swap/src/bin/asb.rs
+++ b/swap/src/bin/asb.rs
@@ -35,7 +35,7 @@ use swap::protocol::alice::{redeem, run, EventLoop};
 use swap::seed::Seed;
 use swap::tor::AuthenticatedClient;
 use swap::{asb, bitcoin, env, kraken, monero, tor};
-use tracing::{info, warn};
+use tracing::{debug, info, warn};
 use tracing_subscriber::filter::LevelFilter;
 
 #[macro_use]
@@ -64,8 +64,8 @@ async fn main() -> Result<()> {
     };
 
     info!(
-        "Database and Seed will be stored in directory: {}",
-        config.data.dir.display()
+        db_folder = %config.data.dir.display(),
+        "Database and Seed will be stored in",
     );
 
     let db_path = config.data.dir.join("database");
@@ -81,20 +81,21 @@ async fn main() -> Result<()> {
     match opt.cmd {
         Command::Start { resume_only } => {
             let bitcoin_wallet = init_bitcoin_wallet(&config, &seed, env_config).await?;
+
             let monero_wallet = init_monero_wallet(&config, env_config).await?;
 
             let bitcoin_balance = bitcoin_wallet.balance().await?;
-            info!("Bitcoin balance: {}", bitcoin_balance);
+            info!(%bitcoin_balance, "Initialized Bitcoin wallet");
 
             let monero_balance = monero_wallet.get_balance().await?;
             if monero_balance == Amount::ZERO {
-                let deposit_address = monero_wallet.get_main_address();
+                let monero_address = monero_wallet.get_main_address();
                 warn!(
-                    "The Monero balance is 0, make sure to deposit funds at: {}",
-                    deposit_address
+                    %monero_address,
+                    "The Monero balance is 0, make sure to deposit funds",
                 )
             } else {
-                info!("Monero balance: {}", monero_balance);
+                info!(%monero_balance, "Initialized Monero wallet");
             }
 
             let kraken_price_updates = kraken::connect()?;
@@ -104,14 +105,14 @@ async fn main() -> Result<()> {
                 tor::Client::new(config.tor.socks5_port).with_control_port(config.tor.control_port);
             let _ac = match tor_client.assert_tor_running().await {
                 Ok(_) => {
-                    tracing::info!("Tor found. Setting up hidden service. ");
+                    tracing::info!("Tor found. Setting up hidden service");
                     let ac =
                         register_tor_services(config.network.clone().listen, tor_client, &seed)
                             .await?;
                     Some(ac)
                 }
                 Err(_) => {
-                    tracing::warn!("Tor not found. Running on clear net. ");
+                    tracing::warn!("Tor not found. Running on clear net");
                     None
                 }
             };
@@ -153,17 +154,17 @@ async fn main() -> Result<()> {
                         let swap_id = swap.swap_id;
                         match run(swap, rate).await {
                             Ok(state) => {
-                                tracing::debug!(%swap_id, "Swap finished with state {}", state)
+                                tracing::debug!(%swap_id, %state, "Swap finished with state")
                             }
-                            Err(e) => {
-                                tracing::error!(%swap_id, "Swap failed with {:#}", e)
+                            Err(error) => {
+                                tracing::error!(%swap_id, %error, "Swap failed")
                             }
                         }
                     });
                 }
             });
 
-            info!("Our peer id is {}", event_loop.peer_id());
+            info!(perr_id = %event_loop.peer_id(), "Our peer id");
 
             event_loop.run().await;
         }
@@ -203,7 +204,10 @@ async fn main() -> Result<()> {
             let bitcoin_balance = bitcoin_wallet.balance().await?;
             let monero_balance = monero_wallet.get_balance().await?;
 
-            tracing::info!("Current balance: {}, {}", bitcoin_balance, monero_balance);
+            tracing::info!(
+                %bitcoin_balance,
+                %monero_balance,
+                "Current balance");
         }
         Command::ManualRecovery(ManualRecovery::Cancel {
             cancel_params: RecoverCommandParams { swap_id, force },
@@ -274,6 +278,7 @@ async fn init_bitcoin_wallet(
     seed: &Seed,
     env_config: swap::env::Config,
 ) -> Result<bitcoin::Wallet> {
+    debug!("Opening Bitcoin wallet");
     let wallet_dir = config.data.dir.join("wallet");
 
     let wallet = bitcoin::Wallet::new(
@@ -295,6 +300,7 @@ async fn init_monero_wallet(
     config: &Config,
     env_config: swap::env::Config,
 ) -> Result<monero::Wallet> {
+    debug!("Opening Monero wallet");
     let wallet = monero::Wallet::open_or_create(
         config.monero.wallet_rpc_url.clone(),
         DEFAULT_WALLET_NAME.to_string(),
@@ -341,7 +347,8 @@ async fn register_tor_services(
         .get_address_without_dot_onion();
 
     hidden_services_details.iter().for_each(|(port, _)| {
-        tracing::info!("/onion3/{}:{}", onion_address, port);
+        let onion_address = format!("/onion3/{}:{}", onion_address, port);
+        tracing::info!(%onion_address);
     });
 
     Ok(ac)
diff --git a/swap/src/bin/swap.rs b/swap/src/bin/swap.rs
index 825b8955..3d431320 100644
--- a/swap/src/bin/swap.rs
+++ b/swap/src/bin/swap.rs
@@ -245,8 +245,7 @@ async fn main() -> Result<()> {
                     debug!("Cancel transaction successfully published with id {}", txid)
                 }
                 Err(bob::cancel::Error::CancelTimelockNotExpiredYet) => error!(
-                    "The Cancel Transaction cannot be published yet, \
-                        because the timelock has not expired. Please try again later."
+                    "The Cancel Transaction cannot be published yet, because the timelock has not expired. Please try again later"
                 ),
             }
         }
diff --git a/swap/src/bitcoin/wallet.rs b/swap/src/bitcoin/wallet.rs
index 534aded8..3f2c4152 100644
--- a/swap/src/bitcoin/wallet.rs
+++ b/swap/src/bitcoin/wallet.rs
@@ -102,7 +102,7 @@ impl Wallet {
                 format!("Failed to broadcast Bitcoin {} transaction {}", kind, txid)
             })?;
 
-        tracing::info!(%txid, "Published Bitcoin {} transaction", kind);
+        tracing::info!(%txid, %kind, "Published Bitcoin transaction");
 
         Ok((txid, subscription))
     }
@@ -154,15 +154,16 @@ impl Wallet {
 
                         let new_status = match client.lock().await.status_of_script(&tx) {
                             Ok(new_status) => new_status,
-                            Err(e) => {
-                                tracing::warn!(%txid, "Failed to get status of script: {:#}", e);
+                            Err(error) => {
+                                tracing::warn!(%txid, %error, "Failed to get status of script.");
                                 return;
                             }
                         };
 
                         if Some(new_status) != last_status {
-                            tracing::debug!(%txid, "Transaction is {}", new_status);
+                            tracing::debug!(%txid, status = %new_status, "Transaction status.");
                         }
+
                         last_status = Some(new_status);
 
                         let all_receivers_gone = sender.send(new_status).is_err();
@@ -200,7 +201,7 @@ impl Subscription {
         let conf_target = self.finality_confirmations;
         let txid = self.txid;
 
-        tracing::info!(%txid, "Waiting for {} confirmation{} of Bitcoin transaction", conf_target, if conf_target > 1 { "s" } else { "" });
+        tracing::info!(%txid, required_confirmation=%conf_target, "Waiting for Bitcoin transaction finality.");
 
         let mut seen_confirmations = 0;
 
@@ -209,15 +210,18 @@ impl Subscription {
                 let confirmations = inner.confirmations();
 
                 if confirmations > seen_confirmations {
-                    tracing::info!(%txid, "Bitcoin tx has {} out of {} confirmation{}", confirmations, conf_target, if conf_target > 1 { "s" } else { "" });
+                    tracing::info!(%txid,
+                        seen_confirmations = %confirmations,
+                        needed_confirmations = %conf_target,
+                        "Waiting for Bitcoin transaction finality.");
                     seen_confirmations = confirmations;
                 }
 
                 inner.meets_target(conf_target)
-            },
-            _ => false
+            }
+            _ => false,
         })
-            .await
+        .await
     }
 
     pub async fn wait_until_seen(&self) -> Result<()> {
@@ -614,8 +618,8 @@ impl Client {
 
         if let Some(new_block) = latest_block {
             tracing::debug!(
-                "Got notification for new block at height {}",
-                new_block.height
+                block_height = new_block.height,
+                "Got notification for new block."
             );
             self.latest_block = BlockHeight::try_from(new_block)?;
         }
diff --git a/swap/src/fs.rs b/swap/src/fs.rs
index 914b39dd..217d4bf1 100644
--- a/swap/src/fs.rs
+++ b/swap/src/fs.rs
@@ -24,8 +24,8 @@ pub fn ensure_directory_exists(file: &Path) -> Result<(), std::io::Error> {
     if let Some(path) = file.parent() {
         if !path.exists() {
             tracing::info!(
-                "Parent directory does not exist, creating recursively: {}",
-                file.display()
+                directory = %file.display(),
+                "Parent directory does not exist, creating recursively",
             );
             return std::fs::create_dir_all(path);
         }
diff --git a/swap/src/kraken.rs b/swap/src/kraken.rs
index 57e2861c..8e42386b 100644
--- a/swap/src/kraken.rs
+++ b/swap/src/kraken.rs
@@ -50,7 +50,9 @@ pub fn connect() -> Result<PriceUpdates> {
 
         match result {
             Err(e) => {
-                tracing::warn!("Rate updates incurred an unrecoverable error: {:#}", e);
+                tracing::warn!(
+                    error = %e,
+                    "Rate updates incurred an unrecoverable error.");
 
                 // in case the retries fail permanently, let the subscribers know
                 price_update.send(Err(Error::PermanentFailure))
@@ -183,8 +185,8 @@ mod connection {
             // if the message is not an event, it is a ticker update or an unknown event
             Err(_) => match serde_json::from_str::<wire::PriceUpdate>(&msg) {
                 Ok(ticker) => ticker,
-                Err(e) => {
-                    tracing::warn!(%e, "Failed to deserialize message '{}' as ticker update", msg);
+                Err(error) => {
+                    tracing::warn!(%error, %msg, "Failed to deserialize message as ticker update.");
 
                     return Ok(None);
                 }
diff --git a/swap/src/monero/wallet.rs b/swap/src/monero/wallet.rs
index 93af277e..87b3df1d 100644
--- a/swap/src/monero/wallet.rs
+++ b/swap/src/monero/wallet.rs
@@ -33,9 +33,9 @@ impl Wallet {
                 "Unable to create Monero wallet, please ensure that the monero-wallet-rpc is available",
             )?;
 
-            tracing::debug!("Created Monero wallet {}", name);
+            tracing::debug!(monero_wallet_name = %name, "Created Monero wallet");
         } else {
-            tracing::debug!("Opened Monero wallet {}", name);
+            tracing::debug!(monero_wallet_name = %name, "Opened Monero wallet");
         }
 
         Self::connect(client, name, env_config).await
@@ -148,19 +148,22 @@ impl Wallet {
             Ok(_) => match wallet.sweep_all(self.main_address.to_string()).await {
                 Ok(sweep_all) => {
                     for tx in sweep_all.tx_hash_list {
-                        tracing::info!(%tx, "Monero transferred back to default wallet {}", self.main_address);
+                        tracing::info!(
+                            %tx,
+                            monero_address = %self.main_address,
+                            "Monero transferred back to default wallet");
                     }
                 }
-                Err(e) => {
+                Err(error) => {
                     tracing::warn!(
-                        "Transferring Monero back to default wallet {} failed with {:#}",
-                        self.main_address,
-                        e
+                        address = %self.main_address,
+                        %error,
+                        "Transferring Monero back to default wallet failed",
                     );
                 }
             },
-            Err(e) => {
-                tracing::warn!("Refreshing the generated wallet failed with {:#}", e);
+            Err(error) => {
+                tracing::warn!(%error, "Refreshing the generated wallet failed");
             }
         }
 
@@ -187,10 +190,10 @@ impl Wallet {
             .await?;
 
         tracing::debug!(
-            "sent transfer of {} to {} in {}",
-            amount,
-            public_spend_key,
-            res.tx_hash
+            %amount,
+            to = %public_spend_key,
+            tx_id = %res.tx_hash,
+            "Sent transfer"
         );
 
         Ok(TransferProof::new(
@@ -211,7 +214,11 @@ impl Wallet {
 
         let txid = transfer_proof.tx_hash();
 
-        tracing::info!(%txid, "Waiting for {} confirmation{} of Monero transaction", conf_target, if conf_target > 1 { "s" } else { "" });
+        tracing::info!(
+            %txid,
+            target_confirmations = %conf_target,
+            "Waiting for Monero transaction finality"
+        );
 
         let address = Address::standard(self.network, public_spend_key, public_view_key.into());
 
@@ -311,7 +318,11 @@ where
         let tx = match fetch_tx(txid.clone()).await {
             Ok(proof) => proof,
             Err(error) => {
-                tracing::debug!(%txid, "Failed to retrieve tx from blockchain: {:#}", error);
+                tracing::debug!(
+                    %txid,
+                    %error,
+                    "Failed to retrieve tx from blockchain"
+                );
                 continue; // treating every error as transient and retrying
                           // is obviously wrong but the jsonrpc client is
                           // too primitive to differentiate between all the
@@ -330,7 +341,12 @@ where
 
         if tx.confirmations > seen_confirmations {
             seen_confirmations = tx.confirmations;
-            tracing::info!(%txid, "Monero lock tx has {} out of {} confirmations", tx.confirmations, conf_target);
+            tracing::info!(
+                %txid,
+                %seen_confirmations,
+                needed_confirmations = %conf_target,
+                "Received new confirmation for Monero lock tx"
+            );
         }
     }
 
diff --git a/swap/src/monero/wallet_rpc.rs b/swap/src/monero/wallet_rpc.rs
index 273337ef..216d1120 100644
--- a/swap/src/monero/wallet_rpc.rs
+++ b/swap/src/monero/wallet_rpc.rs
@@ -121,7 +121,10 @@ impl WalletRpc {
             .local_addr()?
             .port();
 
-        tracing::debug!("Starting monero-wallet-rpc on port {}", port);
+        tracing::debug!(
+            monero_wallet_rpc_port = %port,
+            "Starting monero-wallet-rpc on port"
+        );
 
         let mut child = Command::new(self.exec_path())
             .env("LANG", "en_AU.UTF-8")
diff --git a/swap/src/network/cbor_request_response.rs b/swap/src/network/cbor_request_response.rs
index 055224c8..3101d07c 100644
--- a/swap/src/network/cbor_request_response.rs
+++ b/swap/src/network/cbor_request_response.rs
@@ -45,10 +45,8 @@ where
             e => io::Error::new(io::ErrorKind::Other, e),
         })?;
         let mut de = serde_cbor::Deserializer::from_slice(&message);
-        let msg = Req::deserialize(&mut de).map_err(|e| {
-            tracing::debug!("serde read_request error: {:?}", e);
-            io::Error::new(io::ErrorKind::Other, e)
-        })?;
+        let msg = Req::deserialize(&mut de)
+            .map_err(|error| io::Error::new(io::ErrorKind::Other, error))?;
 
         Ok(msg)
     }
@@ -65,9 +63,9 @@ where
             .await
             .map_err(|e| io::Error::new(io::ErrorKind::InvalidData, e))?;
         let mut de = serde_cbor::Deserializer::from_slice(&message);
-        let msg = Res::deserialize(&mut de).map_err(|e| {
-            tracing::debug!("serde read_response error: {:?}", e);
-            io::Error::new(io::ErrorKind::InvalidData, e)
+        let msg = Res::deserialize(&mut de).map_err(|error| {
+            tracing::debug!(%error, "serde read_response error.");
+            io::Error::new(io::ErrorKind::InvalidData, error)
         })?;
 
         Ok(msg)
@@ -99,9 +97,9 @@ where
     where
         T: AsyncWrite + Unpin + Send,
     {
-        let bytes = serde_cbor::to_vec(&res).map_err(|e| {
-            tracing::debug!("serde write_response error: {:?}", e);
-            io::Error::new(io::ErrorKind::InvalidData, e)
+        let bytes = serde_cbor::to_vec(&res).map_err(|error| {
+            tracing::debug!(%error,"serde write_response error");
+            io::Error::new(io::ErrorKind::InvalidData, error)
         })?;
         upgrade::write_one(io, &bytes).await?;
 
diff --git a/swap/src/network/json_pull_codec.rs b/swap/src/network/json_pull_codec.rs
index 8d802c16..aab788ba 100644
--- a/swap/src/network/json_pull_codec.rs
+++ b/swap/src/network/json_pull_codec.rs
@@ -59,10 +59,8 @@ where
             .await
             .map_err(|e| io::Error::new(io::ErrorKind::InvalidData, e))?;
         let mut de = serde_json::Deserializer::from_slice(&message);
-        let msg = Res::deserialize(&mut de).map_err(|e| {
-            tracing::debug!("serde read_response error: {:?}", e);
-            io::Error::new(io::ErrorKind::InvalidData, e)
-        })?;
+        let msg = Res::deserialize(&mut de)
+            .map_err(|error| io::Error::new(io::ErrorKind::InvalidData, error))?;
 
         Ok(msg)
     }
@@ -88,10 +86,8 @@ where
     where
         T: AsyncWrite + Unpin + Send,
     {
-        let bytes = serde_json::to_vec(&res).map_err(|e| {
-            tracing::debug!("serde write_response error: {:?}", e);
-            io::Error::new(io::ErrorKind::InvalidData, e)
-        })?;
+        let bytes = serde_json::to_vec(&res)
+            .map_err(|error| io::Error::new(io::ErrorKind::InvalidData, error))?;
         upgrade::write_one(io, &bytes).await?;
 
         Ok(())
diff --git a/swap/src/network/swarm.rs b/swap/src/network/swarm.rs
index 8460e6ee..27171392 100644
--- a/swap/src/network/swarm.rs
+++ b/swap/src/network/swarm.rs
@@ -49,11 +49,11 @@ fn with_clear_net<B>(seed: &Seed, behaviour: B) -> Result<Swarm<B>>
 where
     B: NetworkBehaviour,
 {
-    tracing::info!("All connections will go through clear net.");
+    tracing::info!("All connections will go through clear net");
     let identity = seed.derive_libp2p_identity();
     let transport = transport::build_clear_net(&identity)?;
     let peer_id = identity.public().into_peer_id();
-    tracing::debug!("Our peer-id: {}", peer_id);
+    tracing::debug!(%peer_id, "Our peer-id");
 
     let swarm = SwarmBuilder::new(transport, behaviour, peer_id)
         .executor(Box::new(|f| {
@@ -68,11 +68,11 @@ async fn with_tor<B>(seed: &Seed, behaviour: B, tor_socks5_port: u16) -> Result<
 where
     B: NetworkBehaviour,
 {
-    tracing::info!("All connections will go through Tor socks5 proxy.");
+    tracing::info!("All connections will go through Tor socks5 proxy");
     let identity = seed.derive_libp2p_identity();
     let transport = transport::build_tor(&identity, tor_socks5_port)?;
     let peer_id = identity.public().into_peer_id();
-    tracing::debug!("Our peer-id: {}", peer_id);
+    tracing::debug!(%peer_id, "Our peer-id");
 
     let swarm = SwarmBuilder::new(transport, behaviour, peer_id)
         .executor(Box::new(|f| {
diff --git a/swap/src/network/tor_transport.rs b/swap/src/network/tor_transport.rs
index 837a5556..03e865e0 100644
--- a/swap/src/network/tor_transport.rs
+++ b/swap/src/network/tor_transport.rs
@@ -58,11 +58,11 @@ impl Transport for TorTcpConfig {
             Ok(tor_address_string) => {
                 Ok(Box::pin(do_tor_dial(self.socks_port, tor_address_string)))
             }
-            Err(e) => {
+            Err(error) => {
                 tracing::warn!(
-                    "Address {} could not be formatted. Dialling via clear net. Details: {}",
-                    addr,
-                    e
+                    address = %addr,
+                    %error,
+                    "Address could not be formatted. Dialling via clear net.",
                 );
                 self.inner.dial(addr)
             }
diff --git a/swap/src/protocol/alice/event_loop.rs b/swap/src/protocol/alice/event_loop.rs
index 36a2751c..de5e3f17 100644
--- a/swap/src/protocol/alice/event_loop.rs
+++ b/swap/src/protocol/alice/event_loop.rs
@@ -199,8 +199,8 @@ where
                                 &mut OsRng
                             ) {
                                 Ok(state) => state,
-                                Err(e) => {
-                                    tracing::warn!(%peer, "Failed to make State0 for execution setup: {:#}", e);
+                                Err(error) => {
+                                    tracing::warn!(%peer, %error, "Failed to make State0 for execution setup.");
                                     continue;
                                 }
                             };
@@ -235,8 +235,8 @@ where
 
                             let quote = match self.make_quote(self.min_buy, self.max_buy).await {
                                 Ok(quote) => quote,
-                                Err(e) => {
-                                    tracing::warn!(%peer, "Failed to make quote: {:#}", e);
+                                Err(error) => {
+                                    tracing::warn!(%peer, %error, "Failed to make quote.");
                                     continue;
                                 }
                             };
@@ -262,7 +262,10 @@ where
                             let swap_peer = match swap_peer {
                                 Ok(swap_peer) => swap_peer,
                                 Err(_) => {
-                                    tracing::warn!("Ignoring encrypted signature for unknown swap {} from {}", swap_id, peer);
+                                    tracing::warn!(
+                                        unknown_swap_id = %swap_id,
+                                        from = %peer,
+                                        "Ignoring encrypted signature for unknown swap.");
                                     continue;
                                 }
                             };
@@ -270,9 +273,10 @@ where
                             if swap_peer != peer {
                                 tracing::warn!(
                                     %swap_id,
-                                    "Ignoring malicious encrypted signature from {}, expected to receive it from {}",
-                                    peer,
-                                    swap_peer);
+                                    received_from = %peer,
+                                    expected_from = %swap_peer,
+                                    "Ignoring malicious encrypted signature which was not expected from this peer.",
+                                    );
                                 continue;
                             }
 
@@ -300,7 +304,10 @@ where
                             }.boxed());
                         }
                         SwarmEvent::Behaviour(OutEvent::Failure {peer, error}) => {
-                            tracing::error!(%peer, "Communication error: {:#}", error);
+                            tracing::error!(
+                                %peer,
+                                %error,
+                                "Communication error");
                         }
                         SwarmEvent::ConnectionEstablished { peer_id: peer, endpoint, .. } => {
                             tracing::debug!(%peer, address = %endpoint.get_remote_address(), "New connection established");
@@ -315,20 +322,20 @@ where
                             }
                         }
                         SwarmEvent::IncomingConnectionError { send_back_addr: address, error, .. } => {
-                            tracing::warn!(%address, "Failed to set up connection with peer: {}", error);
+                            tracing::warn!(%address, %error, "Failed to set up connection with peer. ");
                         }
                         SwarmEvent::ConnectionClosed { peer_id: peer, num_established, endpoint, cause } if num_established == 0 => {
                             match cause {
                                 Some(error) => {
-                                    tracing::warn!(%peer, address = %endpoint.get_remote_address(), "Lost connection: {}", error);
+                                    tracing::warn!(%peer, address = %endpoint.get_remote_address(), %error, "Lost connection.");
                                 },
                                 None => {
-                                    tracing::info!(%peer, address = %endpoint.get_remote_address(), "Successfully closed connection");
+                                    tracing::info!(%peer, address = %endpoint.get_remote_address(), "Successfully closed connection.");
                                 }
                             }
                         }
-                        SwarmEvent::NewListenAddr(addr) => {
-                            tracing::info!("Listening on {}", addr);
+                        SwarmEvent::NewListenAddr(address) => {
+                            tracing::info!(%address, "Listening on");
                         }
                         _ => {}
                     }
@@ -345,8 +352,8 @@ where
                             let id = self.swarm.behaviour_mut().transfer_proof.send_request(&peer, transfer_proof);
                             self.inflight_transfer_proofs.insert(id, responder);
                         },
-                        Some(Err(e)) => {
-                            tracing::debug!("A swap stopped without sending a transfer proof: {:#}", e);
+                        Some(Err(error)) => {
+                            tracing::debug!(%error, "A swap stopped without sending a transfer proof.");
                         }
                         None => {
                             unreachable!("stream of transfer proof receivers must never terminate")
diff --git a/swap/src/protocol/alice/swap.rs b/swap/src/protocol/alice/swap.rs
index 41d62f07..22351519 100644
--- a/swap/src/protocol/alice/swap.rs
+++ b/swap/src/protocol/alice/swap.rs
@@ -8,7 +8,7 @@ use crate::{bitcoin, database, monero};
 use anyhow::{bail, Context, Result};
 use tokio::select;
 use tokio::time::timeout;
-use tracing::{error, info};
+use tracing::{error, info, warn};
 use uuid::Uuid;
 
 pub async fn run<LR>(swap: Swap, rate_service: LR) -> Result<AliceState>
@@ -66,7 +66,7 @@ where
         .latest_rate()
         .map_or("NaN".to_string(), |rate| format!("{}", rate));
 
-    info!(%state, %rate, "Update");
+    info!(%state, %rate, "Advancing state");
 
     Ok(match state {
         AliceState::Started { state3 } => {
@@ -78,10 +78,10 @@ where
             .await
             {
                 Err(_) => {
-                    tracing::info!(
-                        "TxLock lock did not get {} confirmations in {} minutes",
-                        env_config.bitcoin_finality_confirmations,
-                        env_config.bitcoin_lock_confirmed_timeout.as_secs_f64() / 60.0
+                    info!(
+                        confirmations_needed = %env_config.bitcoin_finality_confirmations,
+                        minutes = %env_config.bitcoin_lock_confirmed_timeout.as_secs_f64() / 60.0,
+                        "TxLock lock did not get enough confirmations in time",
                     );
                     AliceState::SafelyAborted
                 }
@@ -183,7 +183,7 @@ where
                     }
                 }
                 enc_sig = event_loop_handle.recv_encrypted_signature() => {
-                    tracing::info!("Received encrypted signature");
+                    info!("Received encrypted signature");
 
                     AliceState::EncSigLearned {
                         monero_wallet_restore_blockheight,
@@ -210,8 +210,10 @@ where
                                 bail!("Waiting for Bitcoin transaction finality failed with {}! The redeem transaction was published, but it is not ensured that the transaction was included! You're screwed.", e)
                             }
                         },
-                        Err(e) => {
-                            error!("Publishing the redeem transaction failed with {}, attempting to wait for cancellation now. If you restart the application before the timelock is expired publishing the redeem transaction will be retried.", e);
+                        Err(error) => {
+                            error!(
+                                %error,
+                                "Publishing the redeem transaction failed");
                             tx_lock_status
                                 .wait_until_confirmed_with(state3.cancel_timelock)
                                 .await?;
@@ -223,8 +225,10 @@ where
                             }
                         }
                     },
-                    Err(e) => {
-                        error!("Constructing the redeem transaction failed with {}, attempting to wait for cancellation now.", e);
+                    Err(error) => {
+                        error!(
+                            %error,
+                            "Constructing the redeem transaction failed. Attempting to wait for cancellation now");
                         tx_lock_status
                             .wait_until_confirmed_with(state3.cancel_timelock)
                             .await?;
@@ -325,10 +329,10 @@ where
 
             match punish {
                 Ok(_) => AliceState::BtcPunished,
-                Err(e) => {
-                    tracing::warn!(
-                        "Falling back to refund because punish transaction failed with {:#}",
-                        e
+                Err(error) => {
+                    warn!(
+                        %error,
+                        "Falling back to refund because punish transaction failed"
                     );
 
                     // Upon punish failure we assume that the refund tx was included but we
diff --git a/swap/src/protocol/bob/event_loop.rs b/swap/src/protocol/bob/event_loop.rs
index e32fa7e0..d3aa2a29 100644
--- a/swap/src/protocol/bob/event_loop.rs
+++ b/swap/src/protocol/bob/event_loop.rs
@@ -134,7 +134,7 @@ impl EventLoop {
                             if swap_id != self.swap_id {
 
                                 // TODO: Save unexpected transfer proofs in the database and check for messages in the database when handling swaps
-                                tracing::warn!("Received unexpected transfer proof for swap {} while running swap {}. This transfer proof will be ignored.", swap_id, self.swap_id);
+                                tracing::warn!("Received unexpected transfer proof for swap {} while running swap {}. This transfer proof will be ignored", swap_id, self.swap_id);
 
                                 // When receiving a transfer proof that is unexpected we still have to acknowledge that it was received
                                 let _ = self.swarm.behaviour_mut().transfer_proof.send_response(channel, ());