In this dappOS essay contest, most of the articles talked about the Web3 airdrop mission of dappOS. The president changed the angle and gave everyone a detailed analysis of how dappOS uses the intent network to conduct spot transactions.
On December 20, 2024, dappOS released its spot trading function based on the intent network architecture - IntentEX. This innovative spot trading platform uses dappOS's unique Intent Execution Network to provide users with a trading experience close to the CEX level. Through dappOS's intentional infrastructure, ordinary users can not only enjoy institutional-level liquidity, but also complete on-chain transactions at lower transaction costs and faster transaction speeds.
This article will deeply analyze dappOS’s latest product, IntentEX, and explore how it breaks the limitations of traditional on-chain exchanges through intent network technology, bringing a more efficient and lower-cost trading experience to the Web3 ecosystem.
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1. Background: Pain points of traditional on-chain exchanges
At present, although on-chain exchanges (DEX) and centralized exchanges (CEX) play an important role in the crypto market, there are still some problems that are difficult to ignore:
Insufficient liquidity: The liquidity of many on-chain exchanges is relatively low, especially in some less popular asset transactions, and users cannot enjoy the liquidity of the entire market on one platform.
Slow transaction speed: Traditional on-chain exchanges are limited by the block speed of the blockchain and network congestion, and transaction confirmation is usually slow.
High transaction fees: The transaction fees of exchanges are usually high, especially the high fees of some CEX and on-chain exchanges, which makes ordinary users feel inconvenienced when trading.
The core reason for these problems is that the liquidity of asset trading is dispersed among multiple exchanges, and users cannot enjoy sufficient market depth and liquidity within a single platform, which makes trading inefficient and costly.
To solve these problems, dappOS launched the IntentEX platform, which uses its intent network architecture to fundamentally optimize the trading experience.
2. Principles and Innovations of IntentEX
The core design innovation of IntentEX is reflected in its intentional trading mechanism, which regards the user's limit order as an "Intent Task" and entrusts it to a professional service node for execution through the dappOS's Intent Execution Network. This design enables IntentEX to break the liquidity limitations of traditional exchanges and provide users with a more efficient and lower-cost trading experience.
2.1 Release Intent Task
When a user places a limit order on the IntentEX platform, the order is considered an "intent task" and published to the dappOS intent execution network. The matching nodes in the network will select the best service node to execute this task based on multiple factors. Key factors include the node's margin, execution speed, cost, and liquidity.
After the user signs and confirms, the selected service node will commit to execute a specific order quantity. This "intention task" mechanism can enable orders to be executed in a very short time, even faster than the block generation speed of the blockchain itself.
2.2 On-chain order processing
After confirming the order, the service node will process the order on the chain as follows:
Internal Fill: If there is a matching order in the IntentEX order book, the system will directly match the order. The unfilled order will proceed to the next stage.
Node Exclusive Fill: The service node has the exclusive right to complete the transaction within a certain period of time and is responsible for completing the remaining orders. If the service node fails to complete the transaction as promised, it will face liquidation.
Open Order: Unfulfilled orders will be placed on the IntentEX order book for other users to trade.
This order processing mechanism ensures the efficiency and liquidity of transactions, and at the same time, by introducing an exclusive transaction mechanism, it ensures that users' orders can be completed quickly.
3. Core Advantages of IntentEX
DappOS's IntentEX not only solves the liquidity and handling fee issues of traditional on-chain exchanges, but also greatly improves the speed and efficiency of transactions. The following are several core advantages of IntentEX:
3.1 Institutional-level full market liquidity
dappOS's professional service nodes can obtain and match liquidity information from CEX and DEX in real time. Compared with traditional on-chain trading designs, IntentEX can not only integrate on-chain liquidity, but also access high-quality liquidity resources in the off-chain market, bringing institutional-level liquidity capture capabilities. Users' orders can quickly access the best price source, achieving higher transaction rates and faster transaction execution.
3.2 Fast execution speed
IntentEX provides users with faster transaction speeds than traditional on-chain exchanges by quickly matching market prices and executing intent tasks. The intent execution network of dappOS can complete order signature confirmation within 500 milliseconds, even exceeding the block speed of the public chain. This efficient trading mechanism allows users to complete transactions quickly and avoid waiting too long.
3.3 Low transaction fees
Thanks to the professional service node network of dappOS, IntentEX is able to greatly optimize transaction fees to as low as 0.1%, which is much lower than the fee structure of most on-chain exchanges. This makes IntentEX a more economical choice for users when trading on the chain.
3.4 Decentralization and Transparency
All transactions of IntentEX are publicly recorded on the chain, ensuring the transparency and credibility of the system. The decentralized network of dappOS ensures that even if a service node fails, other nodes can quickly take over the task to ensure that the transaction is not affected. This design makes IntentEX highly stable and secure, providing users with a trading platform without a single point of failure.
4. IntentEX and dappOS ecosystem
IntentEX is an important part of the dappOS ecosystem, marking another important breakthrough in the construction of the Web3 intent layer. dappOS aims to help users realize the intentionality of operations, assets, and transactions through the intent network technology, and further improves its Web3 intent layer ecosystem by launching IntentEX.
With the launch of IntentEX, dappOS not only occupies the commanding heights of innovation in the field of decentralized exchanges (DEX), but also provides a solid foundation for the intelligent and decentralized development of the entire Web3 ecosystem.
Summarize
DappOS's IntentEX breaks the liquidity, transaction speed and cost limitations of traditional on-chain exchanges by introducing intent network technology, providing users with a trading experience close to the CEX level. Its efficient liquidity matching mechanism, extremely fast transaction execution speed, low handling fees and decentralized transparency make IntentEX highly competitive in the field of on-chain transactions.
With the continuous development of the Web3 ecosystem, dappOS will undoubtedly become a pioneer in promoting the advancement of blockchain technology and innovation in decentralized transactions, helping users enjoy a more intelligent, efficient and decentralized transaction experience.