In the
Technical Overview of your "whitepaper", the "non-custodial exchange process" describes a normal centralized custodial exchange process just like your current website does if we go there and start an XMR to BTC exchange.
Apparently it's a marketing trick to gather attention with a "whitepaper" generated fully with ChatGPT that emphasize your brand name all around targeting users that do not pay attention to what's written in there.
Take for instance
Step 3 of your "non-custodial exchange protocol process":
Step 3: Ensuring Anonymity and Security
A critical aspect of this process is the assurance of user anonymity. The Monero address generated for
the exchange is designed for single use only. When users send Monero from their personal wallets to
this deposit address, the unique privacy features of Monero ensure that no external observer can
ascertain the original sender’s identity. Even if someone possesses the viewing or private key of the
deposit address, they cannot trace the source of the funds due to Monero’s robust privacy architecture.
This is a robotic description of what users do after creating an XMR to BTC order on your website - they send XMR to the generated address by your system which forwards their funds to your current liquidity provider. You take the full custody of funds from that step to the exchange completion and there is absolutely nothing about that description where we can observe a non-custodial process.
The paragraph looks "detailed" because apart from saying that user transfers XMR to your address, the rest of it is just a summary of privacy benefits Monero provides. "Okay ChatGPT, just add a wall of text describing what Monero is".
The paragraph's title and contents have absolutely no relevance to the technical description of a decentralized protocol.
All the rest of that "whitepaper" is a flood of essays on given titles generated by ChatGPT. Have you made it with an intention to troll the fact that nowadays almost nobody reads whitepapers? This is the only point I can congratulate you on here with an A+ aval, since you almost managed to trick everybody.
And what's the most funny here is the "whitepaper" title itself:
"Introducing True Non-Custodial Swaps for Monero: Whitepaper". Is your non-custodial swap protocol for Monero is called "Whitepaper"?
Let us know when we can read about the actual "non-custodial exchange protocol", because your current whitepaper and website are definitely not about it at all, nor there is any working Github link where your "open-source" protocol can be observed.
... so other exchanges like Exch will be able to use the protocols liquidity.
They certainly won't and it's very likely to be vice-versa.
English is not my first language, I asked chatGPT to translate the original write up.
The non custodial process involves a lock up address and is based on the exact same process that SwapKit uses for UTXOs, the difference is we have to make a way so that it can be validated on both ends due to monero's private blockchain, the private view key is provided to view the transaction for monero. The process is validated on the user side before the spend key is given, please read more on SwapKit before rushing to accusations.