If we talk about the hot words in the blockchain circle recently, it must be IntentEX launched by dappOS. I heard that it can provide a trading experience comparable to CEX on the chain, and my first reaction was: "Can this thing really beat Binance?"
But on second thought, CEX's image this year is hard to describe anyway, if there is a more reliable alternative, it is worth considering. So I spent an evening studying this IntentEX, and I'd like to share my true feelings.
On-chain transactions, an eternal pain?
Apart from anything else, there are several pitfalls in on-chain transactions, and only those who have experienced it will understand:
1. Ridiculously slow
Every time a public chain produces a block, it is like a slow-motion replay. Missing a good price is just a matter of minutes.
2. Slippage is sky-high
You place an order and find that the transaction price is always “a little bit” away from the market price, and your wallet hurts so much that it breaks.
3. Handling fees are like a leek tax
Even transferring money is expensive these days, let alone frequent transactions.
I am used to these problems. After all, isn’t that how on-chain transactions work? It wasn’t until dappOS came up with IntentEX that I realized that some things don’t have to be this way.
What is IntentEX? Is it just old wine in a new bottle or is there something new?
To put it simply, **IntentEX** is an on-chain transaction tool based on the dappOS intent network. It sounds very mysterious, but the core concept is quite clear:
It turns the user's transaction needs into an "Intent Task" and then hands it over to a bunch of professional service nodes to help you get it done.
You don't need to care about what these nodes do specifically, their responsibilities are:
- Find the best price in the market;
- Ensure the transaction speed is extremely fast;
- The handling fee is so low that you start to doubt your life.
These things sound like bragging, right? I thought so too, until I found out that it uses the opBNB chain - fast speed, low transaction fees, and it is really suitable for this job.
What is the actual experience like?
For testing, I placed an order using IntentEX. I was originally planning to get some BTC to play with, but then I thought that since I don’t have enough money to test, I might as well pick an unpopular coin to test the downside.
The result? A bit scary:
1. The speed is really fast
I was still wondering if there was a jam, but the transaction was completed without even the common “on-chain traffic jam” phenomenon.
2. The price is not bad
The liquidity is indeed stronger than that of general DEX. You can always get a deal when you place an order, and there is no need to worry about slippage.
3. Attractive handling fees
The 0.1% handling fee made me put my worries about my wallet at ease.
In short, after the whole process, I just want to say one thing: On-chain transactions can be so cool?
What is IntentEX for?
If you think about it more deeply, the design of IntentEX is actually quite ambitious:
It not only creates an on-chain CEX alternative, but also attempts to create a completely "intentional" new way of playing in trading.
In other words, in the future, you may not even need to do it yourself. The system will directly convert your various needs into a bunch of "intention tasks" and automatically help you complete the transaction. If this thing succeeds, it is estimated that the on-chain experience will be extremely high.
However, ambition aside, I personally think that this system still has a long way to go before it can completely replace CEX. But at least, it allows people to see the possibility of on-chain transactions.
A magical operation or a castle in the air?
IntentEX of dappOS is a bit like a breath of fresh air in the blockchain circle.
It’s not perfect, and it won’t necessarily challenge CEX right away, but it opens a new door with the intent network and opBNB — a door to a faster, cheaper, and more transparent on-chain trading experience.
So, will CEX die? Maybe not so soon, but if more and more models like IntentEX emerge, CEX will definitely have a hard time.
Well, that’s all I have to say about dappOS IntentEX. Believe it or not. That’s it.