The user says, "I will be satisfied with at least how many tokens" and simply states the desired outcome.
For example - "I want at least 0.25 ETH for my USDC 500" is all you need to say. 🗣
Such intents are sent to separate people called 'Solvers'.
Solvers compete to find the cheapest and most efficient ways to fulfill that Intent.
They can do things like aggregate Liquidity, group Orders, or use their own inventory. 🔍
The winning Solver that finds the best execution route will execute that transaction on-chain immediately.
On the Solvers' side, they can handle things like upfront Gas fees.
🚀 What benefits are there for users?
As users, there is no longer a need to worry about fluctuations in Gas fees, transaction failures, or complicated cross-chain activities. 😌
Additionally, because Solvers take on execution risk, users are less likely to face MEV (Miner Extractable Value) attacks. 🛡
🌐 Where are they already being used?
Platforms like CoW Protocol, UniswapX, 1inch Fusion, and Across Protocol have already started using this method.
⚠️ As for challenges -
Challenges include the fact that Solvers can become more centralized, and decisions are being made off-chain, which can reduce transparency.
However, the goal (Intents) is to make DeFi smoother, reduce costs, and make it accessible to everyone. ✨
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