dappOS Intent Execution Protocol
dappOS is an intent execution network that fundamentally transforms how users interact with decentralized blockchain systems. Users no longer need to manually complete multiple steps in traditional dApps; they can focus solely on their goals they wish to achieve through dappOS. Service providers within the network handle all intermediary processes, ensuring that users achieve their desired outcomes with minimal effort and institutional-level efficiency.
dAppOS currently provides three main functions:
1. Intent Assets: Users can utilize their assets while continuously earning interest.
2. Purpose EX: Users can achieve the optimal trading cost when conducting spot trading.
3. Intent-Centric dApp Interaction: Users can seamlessly interact with dApps, avoiding the complexities of direct blockchain interaction.
These three functions meet the most common on-chain needs of users, positioning dappOS as a comprehensive Web3 operating system through the integration of these core functionalities.
dappOS has become a leader in the Web3 space, receiving investments from top venture capital firms such as Binance Labs, Polychain, Sequoia Capital, IDG, and OKX Ventures.
What problems can be unlocked?
Blockchain technology is hailed as a transformative force of decentralization, trust, and security, having undergone significant growth and innovation since its inception. The decentralized nature of blockchain ensures that no single entity can control the entire network, enhancing security and trust among participants. However, despite the immense potential of blockchain technology, it still faces limitations and challenges that hinder widespread adoption.
The contemporary blockchain economy is limited to services that can be defined by mathematical formulas. For example, Uniswap serves as a platform connecting liquidity providers and token buyers. These liquidity providers are limited to offering services based on preset formulas, such as selling tokens at specific prices. This limitation hinders the development of more complex and diverse services. Furthermore, users encounter significant inefficiencies due to the inability to effectively outsource tasks. For instance, users wanting to sell tokens across multiple chains face a cumbersome process when identifying service providers and often need to perform manual operations. In contrast, many Web2 tasks can be seamlessly outsourced, providing a smoother user experience.
Moreover, certain tasks still cannot be resolved within the current on-chain framework. For instance, due to the lack of permissionless trust in smart contracts, there are issues with using on-chain tokens to purchase Web2 services. Tasks requiring time constraints or specific restrictions cannot be managed on-chain. However, if the results can be fairly verified and users accept predefined compensation, these tasks can be safely outsourced to service providers. Additionally, for security reasons, users are reluctant to approve contracts that access their accounts, necessitating manual confirmation of every detail, such as transaction fees, cross-chain operations, and private key management.
To address these limitations, the dappOS intent execution network was born, becoming a powerful solution to simplify user interactions within the blockchain ecosystem. This network connects users with service providers, enhancing the efficiency of outsourcing tasks in a decentralized environment. Similar to real-world platforms like eBay and DoorDash, where users can communicate and collaborate efficiently with service providers, similar efficiency levels can now be achieved on-chain. dappOS alleviates security concerns by allowing users to securely delegate tasks to service providers. This solution not only addresses existing usability issues but also expands the capabilities of Web3 applications, enabling the creation of new services that were previously unattainable.
Background
The current market is in a craze for new assets and MEMEs, and users have a strong on-chain trading demand. However, many existing on-chain exchanges struggle to provide sufficient liquidity to users, with slow execution speeds and high transaction fees. These issues severely affect user experience. The core reason for these problems is that the trading liquidity of an asset is often dispersed across various exchanges, preventing users from enjoying the full market liquidity for that asset within a single exchange.
The emergence of dappOS intentEX addresses these liquidity, trading cost, and efficiency issues, genuinely helping users realize trading intentions.
The Principle of intentEX
The core design innovation of intentEX is to delegate user limit orders as intent tasks to be executed by nodes in the dappOS intent execution network, in addition to the traditional order book exchanges. This design allows nodes to complete transactions across any chain, leveraging the liquidity advantages of professional institutions, enabling tokens on intentEX to possess superior liquidity compared to all CEXs and DEXs, while providing users with faster fill speeds and lower execution fees.
Publish Intent Task
When a user places a limit order on intentEX, it is analogous to issuing an intent task within the dappOS intent execution network. The matching nodes in the network will match this intent task to the service node with the strongest overall competitiveness. When selecting a service node, the matching node will consider various factors, such as: the node's margin, execution cost, execution speed, and the quantity of orders the node is willing to take at a certain price deviation from the market.
After the user completes the signature, the service node that confirms receipt of this intent task will commit to a quantity of orders that it guarantees will successfully complete for the user, based on its own situation. Due to the constraints of the OMS mechanism in the dappOS intent execution network, once the service node completes the signature and confirms the exclusive transaction quantity, if it is ultimately not fulfilled, the node will be liquidated. Therefore, by this stage, users can generally consider that the order portion promised by the service node has been completed, without needing to wait for the final on-chain confirmation. When the user's bid is near the market price, the speed at which the user's order is filled can exceed the block speed of the public chain itself, as service nodes tend to commit to fulfilling all orders.
On-chain Order Processing
After completing the commitment, the service node will complete the order processing on-chain under the system constraints in the following three steps:
Internal Fill: If there are matching orders in the intentEX order book, the system will directly match and execute them. Orders that fail to execute at this stage will move on to the next phase.
Node Exclusive Fill: The remaining orders will grant this service node exclusive rights to fill within a certain time. If the quantity of orders the service node committed to fulfilling for the user is not completed during the internal filling phase, the service node must fill them itself, or it will face liquidation from the dappOS network. The service node may also fill more orders than it originally committed to during this phase.
Open Order: Remaining orders will be listed on the intentEX order book for other users to trade.
If a service node's execution speed is too slow or it commits to helping the user fill too few orders, its competitiveness weight in the matching node will be reduced, making it harder to receive more orders. This mechanism encourages service nodes to commit to helping users fill more orders and complete transactions faster.
A Specific Case
To aid readers' understanding, here is a specific scenario as an example — suppose that the sell order book for token $A on intentEX has a total of 990U at a price of 9.9U for the best sell order and 1010U at a price of 10.1U for the second best sell order.
At this point, the user initiates 300 limit buy orders of 10U, and these buy orders will be published as intent tasks in the dappOS intent execution network, where matching nodes will assign this task to the currently optimal service node.
Suppose a service node successfully competes for this intent task; it needs to commit to a minimum order quantity it will help the user fill (e.g., 250 buy orders of $A). The specific amount of this commitment is generally related to the node's strategy and the market depth of token $A in all other trading markets. For instance, this node may be willing to commit to helping the user fill at least 250 buy orders because: the intentEX order book already has 100 sell orders that can be executed immediately; and after observing all other DEXs and CEXs, it found 150 orders of $A that, after related fees, cost less than 10U.
From the user's perspective, 250 of the 300 limit buy orders have already been filled when the service node submits its commitment to the network, and this fill speed is faster than the block speed of the public chain itself. In this example, the market depth for $A is not large, but in more cases, when the market depth is sufficient, nodes will commit to helping users fill all orders near the market price, allowing users to find that all their orders can be filled immediately.
The service node will proceed with transaction execution according to the following process:
Internal Fill
100 of the user's 300 limit buy orders of 10U will match with the existing 100 sell orders at 9.9U on intentEX and will be executed directly at the price of 9.9U.
Node Exclusive Fill
Since the node has committed to helping the user fill at least 250 orders, it is required to assist the user in filling the remaining 150 orders at this stage; otherwise, it will face liquidation.
This highlights the advantage of intentEX: instead of leaving users with unexecuted orders waiting for other market makers to arbitrage, the professional service nodes within the intent execution network directly assume this role. This not only gives users effective liquidity for token $A across the entire market but also provides faster fill speeds for their orders.
Open Order
The last 50 limit buy orders of 10U will appear in the buy order book for token $A on intentEX if the matching service node is unwilling to execute them.
Generally, this situation only occurs when the user's order price is far from the market price, or when the liquidity of the related token is relatively insufficient across all trading markets.
Looking Ahead: The World of dappOS
Just as Windows 95 revolutionized personal computing by introducing a user-friendly graphical user interface (GUI), dappOS aims to change the blockchain landscape through its intent execution network. Before Windows 95, computer users relied on complex command-line interfaces, making technology inaccessible to the average person. Similarly, current blockchain interactions require users to understand intricate technical details, such as smart contracts, gas fees, and various blockchain protocols, creating a high barrier to entry. dappOS acts as the GUI for blockchain, abstracting this complexity and allowing users to express their desired outcomes (intents) without worrying about execution details. This significantly lowers the entry barrier, enabling a broader audience to engage with blockchain technology and facilitating widespread adoption.
In the world of dappOS, users can interact with blockchain applications as easily as browsing modern web interfaces. Whether transferring assets, participating in decentralized finance (DeFi), or using decentralized applications (dApps), dappOS simplifies these processes by allowing users to set intents and letting the network handle execution. This user-centric design ensures that even individuals with little or no technical knowledge can easily participate in the blockchain ecosystem. Additionally, dappOS's flexible approach enables service providers to utilize both on-chain and off-chain solutions simultaneously, optimizing efficiency and cost-effectiveness while ensuring timely execution and guaranteed reliability.
Ultimately, dappOS is expected to become the infrastructure for Web3, driving the next wave of growth in the decentralized era. Users will enjoy seamless interactions with decentralized applications, akin to the convenience of using popular Web2 services today. As more users and developers join the dappOS network, we can anticipate explosive growth and innovation reminiscent of the '1995 moment' of the internet revolution. The future of blockchain technology, supported by dappOS, will be inclusive, efficient, and impactful, ushering in a new era of digital interaction and economic opportunities.
#dappOS推出基于其意图网络的现货交易 #BinanceWeb3Wallet
#dappOS推出基于其意图网络的现货交易 #BinanceWeb3Wallet