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Intent-Based Swap: A New Paradigm for Reshaping DEX Trading Models
Intent-based Swap and Its Impact on the DEX Market
This article will explore Intent-Based Swap and its potential impact on the decentralized exchange (DEX) market. We will first review the mainstream trading models of current DEXs, then introduce the concept of intent and the principles of intent-based trading, and finally discuss the advantages, challenges, and application prospects of this new trading model.
Current Mainstream DEX Trading Models
Currently, DEX mainly adopts two trading modes:
Automated Market Maker (AMM) model:
Request for Quotation (RFQ) mode:
AMM and RFQ models each have their advantages and disadvantages, complementing each other in practical applications.
Concept of Intent and its Application in Trading
Traditionally, users need to provide complete transaction information when interacting with DApps. The Intent model focuses only on the transaction intent, leaving the specific execution steps to be handled by professional Solvers.
In Intent-based Swap:
Advantages of Intent-Based Swap
Areas for Improvement
Application Cases and Future Exploration
RFQ and limit orders can be seen as simple applications of Intent-based Swaps. There are several related products in the market, such as the fusion model of a well-known DEX aggregator, a certain bull trading platform, and the order placement function of a certain NFT trading platform.
In addition to traditional trading models, Intent-based Swap has also opened up new possibilities:
With the continuous development of technology, intent-based trading models are expected to bring more innovation and opportunities to the DEX market.