Potidaea is the Automated Swap Mechanism on Bitcoin Cash — a counterparty-free swap at a rate fixed by consensus. No order book, no liquidity pool, no maker, no slippage. The covenant is the engine.
Every backed asset carries its BCH backing inside its own UTXO. To swap, you spend it — the contract releases the other asset at the fixed backing rate. There is no one to match, nothing to quote, no depth to run out of. Only the reservoir bounds quantity at a moment; it never moves the rate.
Backing is the liquidity, elastic from moment zero. No bootstrap, no LP, no thin pairs — MBA↔MBA depth is there the instant an asset exists.
The rate is fixed by consensus: out = in × backingRate. A 1-unit swap and a million-unit swap clear at the identical price.
No maker, no order, no human. Non-custodial throughout — the backing lives in each UTXO and only its holder can unlock it.
Your MBA is self-backed — a P2PKH spend releases the BCH locked inside it, at peg. No fee, no oracle, no contract path.
That BCH funds a claim() against the target's reservoir, minting units at its fixed rate — the covenant enforces the backing on every output.
Redeem + claim settle together in a single atomic tx. It either completes whole or not at all — BCH↔MBA and MBA↔MBA alike.
Every mint/swap mints a small protocol fee. The majority routes to holders of the flagship DEA (the Deviant Equilibrium Asset), pro-rata and time-weighted. Demand for it deepens BCH backing, which lifts the floor under every asset at once.
Any asset's swaps mint a 0.5% fee — Stoa, Olympia, or unlisted.
The majority routes to DEA holders, pro-rata + time-weighted.
DEA demand rises → its BCH backing deepens → the floor lifts.
A higher floor lifts every MBA at once. Success is shared.
The marketplace hub — see assets and swap them in one place.
The asset directory — the full registry, browsable by backed / non-backed.
The free list — every canonical asset, listed at no cost. Discovery is free.
The paid spotlight — featured placement, ranked by the Olympic ladder.
The founder's workshop — create a new asset in five immutable steps.
The register — inscribe an existing asset onto the catalogue.
Spend BCH to mint a backed asset, or swap one MBA for another — atomically, at a rate that never moves.