Loop comprehension: a new criterion for set construction!

Stratified comprehension burns down to acyclic comprehension, however not all cyclic formulas are pathological, indeed the standard set theory ZF do heavily use cyclic formulation. This method allows some cyclic formulas to define sets but of course, imposes the restriction that under certain specifications (outlined below) no Looping is acceptable. So it identifies the existence of LOops on specifically defined graphs on formulas to be the culprit. 

 A formula phi is said to be a NON-LOOP formula if and only if: 

 Axiom scheme of LOop Comprehension: if phi(y) is a non-loop formula, in which x doesn't occur free, then (Exists x for all y (y E x <-> phi(y))) is an axiom.

This theory does interpret NF, and I think it also proves the consistency of Zermelo, and I'd conjecture that it would prove the consistency of ZF as well.

at 29/10/2017

Now I figured out that this won't work, I can simply reproduce Russell's paradox in a rather straightforward manner! The formula Exist z (for all y (x E y -> z E y) ^ ~ z E x) is a non-loop formula and still, it easily defined the Russell's set

It would interesting to see if the whole way is salvageable?