Deviant

Potidaea

Counterparty-free automated swap mechanism

One of the two markets under Agora — the one where the price is the mechanism.

Potidaea handles counterparty-free swaps for backed assets. Every exchange is priced by the Universal Exchange Rate — rate A ÷ rate B, derived from genesis constants alone — and settled by consensus. No pool. No oracle. No one to ask.

The contract is the market maker, the liquidity provider, and the counterparty at once. Mint from a permissionless covenant; exit by burning your output back to its Bitcoin Cash floor; swap to any other permissionless-mint asset in a single atomic transaction.

Named after Ποτίδαια — the city of Poseidon — because the liquidity behaves like ocean: MBA↔MBA depth is infinite from moment zero. Backing is liquidity, elastic-mint. There is no bootstrap, no seeding, no thin-pairs, no slippage in the usual sense.

— The Potidaea flow

Genesis
One transaction seals the core parameters — backing rate, category, mint policy. Immutable after mint; no upgrade key, no admin.
Swap
Any address can claim against the reservoir. Sequencer + sharded reservoir + auto-assign — measured at 196 swaps/sec on a local BCHN node.
Redeem
Burn the output back to its BCH floor at any time. The floor is an equality the contract enforces at consensus level — not an approximation.
52,998
Chipnet swaps
0
Exploits
100%
Peg integrity
~52k
Per 32 MB block
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