Intent-based protocols are systems that use a decentralized approach to fulfill user requests. They often start with an "intent-discovery" system where users can publicly express their desired intent. Then, a network of solvers compete to fill the request at the best price. This system is meant to ensure that no central third party is responsible for satisfying all user needs. 

TLDR; 

▪️Intent-based protocols are a new way to interact with blockchains. Instead of telling the blockchain exactly what to do, you simply tell it what you want to achieve. 

▪️The protocol then figures out the best way to do that. This is much simpler for users, and it can also be more efficient. 

▪️For example, an intent-based protocol could be used to swap tokens between different blockchains or to buy NFTs in a game.

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📀 What Are intent Based Protocol?

Regular Transactions: You tell the blockchain exactly what to do, step-by-step (like sending 1 ETH to address X).

Intent-Based Transactions: You tell the blockchain what you want to achieve (like "I want 1 ETH sent to address X at the best price").

🔼  How These Protocol Works? 

1.  Imagine a user participating in a DeFi protocol. They express their intent by stating their desired outcome, such as "swap tokens" or "provide liquidity."

   - Unlike traditional step-by-step instructions, the user simply declares their goal without specifying implementation details.

2. The DeFi protocol abstracts this intent into a high-level representation. It understands the user's goal without requiring explicit instructions.

  - For instance, if the user intends to swap tokens, the protocol identifies the relevant smart contracts and liquidity pools involved.

3. Based on the intent, the DeFi protocol automatically executes the necessary steps. It interacts with smart contracts, validators, and other components.

   - When the user initiates a token swap, the protocol handles the transaction, ensuring proper execution.

4.  Intent-based systems continuously validate correctness. If any discrepancies occur (e.g., insufficient funds or failed execution), they self-correct or notify the user.

Feedback loops play a crucial role in blockchain systems. They involve an input, an output, and feedback that influences the next input. These loops can be positive (reinforcing the initial input) or negative (counteracting it).

💡 Benefits of Intent Based Protocol 

Simpler for Users: No need to know complex blockchain stuff, just state your goal.

More Flexible: The system can find the best way to achieve your intent within set parameters.

Potential for Efficiency: Allows for features like finding the best exchange rate for a trade.

⚡ Example Of Intent Based Action 

Cross-chain Swaps: Want to swap tokens between different blockchains? An intent-based protocol can find the best route without needing complex bridges.

In-game purchases:  Simply express your desire to buy an NFT in a game, and the system handles the behind-the-scenes steps.

For example, consider a user interacting with a gaming DApp on the Polygon network. Intent-based architectures simplify this process by allowing users to declare their gaming objectives directly on the platform. The blockchain autonomously manages the intricate steps needed for execution, whether it’s purchasing in-game assets or staking rare NFTs. 

🏵️ Projects Recommendation 

▪️Across

▪️▪️DLN

▪️▪️▪️Nitro By Route Protocol 

▪️▪️▪️▪️Synapse 

💡 intent.markets  is an analytics and research website for intent based protocols. 

🔼 Data Credit - intent.market, Blockworks, Gemini, Shoal Research, Coindesk 

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©𝑻𝒉𝒊𝒔 𝒂𝒓𝒕𝒊𝒄𝒍𝒆 𝒊𝒔 𝒇𝒐𝒓 𝒊𝒏𝒇𝒐𝒓𝒎𝒂𝒕𝒊𝒐𝒏 𝒐𝒏𝒍𝒚 𝒂𝒏𝒅 𝒏𝒐𝒕 𝒂𝒏 𝒆𝒏𝒅𝒐𝒓𝒔𝒆𝒎𝒆𝒏𝒕 𝒐𝒇 𝒂𝒏𝒚 𝒑𝒓𝒐𝒋𝒆𝒄𝒕 𝒐𝒓 𝒆𝒏𝒕𝒊𝒕𝒚. 𝑻𝒉𝒆 𝒏𝒂𝒎𝒆𝒔 𝒎𝒆𝒏𝒕𝒊𝒐𝒏𝒆𝒅 𝒂𝒓𝒆 𝒏𝒐𝒕 𝒓𝒆𝒍𝒂𝒕𝒆𝒅 𝒕𝒐 𝒖𝒔. 𝑾𝒆 𝒂𝒓𝒆 𝒏𝒐𝒕 𝒍𝒊𝒂𝒃𝒍𝒆 𝒇𝒐𝒓 𝒂𝒏𝒚 𝒍𝒐𝒔𝒔𝒆𝒔 𝒇𝒓𝒐𝒎 𝒊𝒏𝒗𝒆𝒔𝒕𝒊𝒏𝒈 𝒃𝒂𝒔𝒆𝒅 𝒐𝒏 𝒕𝒉𝒊𝒔 𝒂𝒓𝒕𝒊𝒄𝒍𝒆. 𝑻𝒉𝒊𝒔 𝒊𝒔 𝒏𝒐𝒕 𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍 𝒂𝒅𝒗𝒊𝒄𝒆. 𝑻𝒉𝒊𝒔 𝒅𝒊𝒔𝒄𝒍𝒂𝒊𝒎𝒆𝒓 𝒑𝒓𝒐𝒕𝒆𝒄𝒕𝒔 𝒃𝒐𝒕𝒉 𝒚𝒐𝒖 𝒂𝒏𝒅 𝒖𝒔.

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#research #intent #blockchain