Protocol
Atomic DvP Settlement
Token-leg and payment-leg execute atomically in a single transaction, or both revert. Eliminates the principal counterparty risk that plagues T+2 and bilateral OTC. A protocol primitive — not application-layer escrow logic each app must re-implement.
Key figures
Settlement modes
Three patterns covering institutional DvP.
Single-Atomic
Both legs settle inside a single transaction. OTC trade execution, primary-market subscription, secondary-market trade.
Multi-Atomic
A single DvP escrow with N legs — three-way swap, basket settlement. All legs settle together; partial settlement is impossible.
Conditional-Atomic
Settlement gated by an external condition: oracle price, document attestation, time threshold. Both legs settle when condition becomes true; expiry releases both.
Comparison
Traditional vs. Caviar.
| Traditional | Caviar | |
|---|---|---|
| Settlement | T+2 with bilateral reconciliation | Atomic, single-transaction, single-block finality |
| Counterparty risk | Principal risk between legs | Zero — both legs or neither |
| Cost | Wire fees + custody + reconciliation | L2 gas only; no escrow agent required |
| Composability | Settlement isolated from accounting | Composes with other state changes in same tx |
Settle without counterparty risk.
One transaction, two legs, zero failure modes between them.