NagaSwap Protocol Settlement Logic

In order to resolve the aforementioned issues of front-running and collisions while still enabling sharing of liquidity in a fully decentralized and trustless way, we introduce NagaSwap Protocol. NagaSwap Protocol is a novel on-chain settlement logic scheme that establishes a fair sequence of incoming orders, thereby resolving collisions and front-running. NagaSwap Protocol accomplishes this by using a publicly verifiable proof-of-elapsed-time construction using verifiable delay functions which also allows for seamless liquidity sharing between re-layers. This settlement logic is also protocol-agnostic, enabling multiple DEX protocols to settle trades and share liquidity in a fully decentralized and trustless fashion.

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