1. Problems with Traditional On-chain Exchanges
1. Insufficient Liquidity
It's like going to a market to buy something, but if there are very few sellers, it's hard to find what you want. In on-chain exchanges, if there are few users willing to buy and sell specific assets, orders are hard to complete immediately.
2. Slow Transaction Speed
Due to the characteristics of the blockchain network itself, it's like a delivery package that has many steps to go through during transportation; transactions need to go through many steps to be completed, resulting in long waiting times.
3. High Transaction Fees
Just like you have to pay a considerable service fee when shopping in a store, trading on traditional on-chain exchanges also incurs higher transaction fees, which increases trading costs.
2. How does IntentEX solve these problems?
1. Provide institutional-grade full market liquidity
IntentEX consolidates high-quality funds (liquidity) from both on-chain and off-chain, like gathering goods from various small markets into a large warehouse. Then, through the professional service nodes in dappOS, it quickly checks order conditions and matches them across the entire market (including CEX and DEX), allowing users' orders to quickly find suitable prices for execution, increasing the probability of completion and speed.
2. Enhance Transaction Speed
IntentEX utilizes the centralized funds (liquidity) of the entire platform to quickly match buy and sell prices. Generally, from the moment the user signs the order to the completion of the transaction, it only takes 500 milliseconds, which is faster than the block speed of the blockchain network, greatly reducing waiting time.
3. Reduce Transaction Fees
IntentEX relies on the professional service node network of dappOS to significantly lower transaction fee costs to just 0.1%, which is 3-5 times cheaper than the fees of traditional on-chain exchanges, making trading more cost-effective for users.
3. How IntentEX Works
1. Publish Intent Task
When users place a limit order on IntentEX, it's like publishing a task (completing a transaction) in a network within dappOS. The nodes responsible for matching tasks will assign this task to the service node with the strongest overall capabilities.
2. On-chain Order Processing
Service nodes will process orders according to the system's predefined steps, first attempting to complete the transaction internally; if that fails, the node will try to complete it independently, and if that still fails, it will open it up for everyone to place orders.
4. The Integration of IntentEX and the dappOS Ecosystem
The emergence of IntentEX has diversified dappOS's products and completed its intent layer ecosystem. Previously, dappOS already had tools (IntentOS and Intent Asset) that allowed operations and assets to be managed according to user intent. With IntentEX, it can now provide comprehensive services to users in terms of operations, assets, and trading.
5. Conclusion
After the launch of IntentEX by dappOS, the painful issues of traditional on-chain exchanges, such as poor liquidity, slow transactions, and high fees, have been resolved, making it more convenient and faster for users to trade.