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NoSandwichSwap

MEV-resistant

AMM-based

Hyperbolic Call Auction

infinite division

harmonious balance

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Phase 1 : Calling (last for several blocks)

Temporary Pool

Buy 100

Sell 100

Buy 50

Buy 200

Sell 50

Buy 300

Sell 100

stored but not settled

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Phase 2 : Settlement

Temporary Pool

Buy 100

Sell 100

Buy 50

Buy 200

Sell 50

Buy 300

Sell 100

Sell 50

1. aggregate

2. subdivide infinitely

3. interleave uniformly

Sell 300

Buy 650

Sell 0.000000000000000000003

Sell 0.000000000000000000003

Sell 0.000000000000000000003

Sell 0.000000000000000000003

Buy 0.0000000000000000000065

Buy 0.0000000000000000000065

Buy 0.0000000000000000000065

Buy 0.0000000000000000000065

……

……

It’s time to settle!

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Phase 2 : Settlement

1. aggregate

2. subdivide infinitely

3. interleave uniformly

Sell 0.000000000000000000003

Sell 0.000000000000000000003

Sell 0.000000000000000000003

Sell 0.000000000000000000003

Buy 0.0000000000000000000065

Buy 0.0000000000000000000065

Buy 0.0000000000000000000065

Buy 0.0000000000000000000065

……

Permanent Pool

Initial State

$BASE: 114,514

$QUOTE: 1,919,810

Processing…

Final State

$BASE: %^&#$

$QUOTE: ^*&$%!

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Phase 3 : Distribution

Permanent Pool

Initial State

$BASE: 114,514

$QUOTE: 1,919,810

Final State

$BASE: 114,510

$QUOTE: 1,919,877

$BASE: 304

$QUOTE: 583

$SANDWICH

Temporary Pool

Cleared!

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Deserialization !!!

MEV profit decreased by 95%

Hyperbolic Call Auction

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Phase 3 : Distribution

Permanent Pool

Initial State

$BASE: 114,514

$QUOTE: 1,919,810

Final State

$BASE: 114,510

$QUOTE: 1,919,877

$BASE: 304

$QUOTE: 583

$SANDWICH

Temporary Pool

Cleared!

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NoSandwichSwap

improve the on-chain user experience

foster fairness within DeFi