According to PANews, decentralized exchange aggregator ParaSwap is launching an intent-based trading protocol designed to mitigate the problem of MEV attacks that cause millions of dollars in crypto trading losses every day.
ParaSwap founder Mounir Benchemled said that MEV has caused billions of dollars in losses to users, resulting in a decline in user experience and reduced efficiency of DeFi protocols.
In early 2024, the ParaSwap team began working on an intent-based transaction model to provide MEV protection. The protocol allows users to define their transaction "intentions" instead of exposing raw transactions to the memory pool.
ParaSwap’s Delta Protocol aims to solve this problem by submitting intended trades in three steps. The process starts with preprocessing, which defines the user’s intent (e.g., price range). This intent is then submitted to an auction, where AI agents compete to come up with the most efficient execution strategy. The winning agent executes the trade through the Portikus Swap module, adhering to the user’s intent and minimizing MEV development risk.
