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Decentralized token exchanges allow for secure trading of tokens without a trusted third party. However, decentralization is mostly achieved at the expense of transaction privacy. For a fair exchange, transactions must remain private to hide the participants and volumes while maintaining the possibility for noninteractive execution of trades. In this paper we present a swap confidential transaction system (SwapCT) which is related to ring confidential transactions (e.g. used in Monero) butdoi:10.2478/popets-2021-0070 fatcat:2ed7l7c6grbnhedwl5pgt4rpfq