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