Bird's-eye view of Intent Centric Primitives and Instantiation Process 🦉

After the proposal of Intent Centric primitives by Paradigm, it became a hot topic in the industry for a period of time last year. However, the terminology of this new primitive is a bit esoteric, and many people in the market find it somewhat difficult to understand.

Essentially, the Intent Centric primitive is a computing paradigm that abstracts user intentions and encapsulates complex execution logic. By introducing the Intent Layer as an intermediate abstraction layer, it decouples user needs from underlying execution.

Still having trouble understanding? Let's take a more down-to-earth example:

• Traditional on-chain operation: "Call function X of contract A, obtain token B, then use cross-chain bridge contract C to transfer B to chain D, and finally exchange it for token F using DEX contract E on chain D."

• Intent Centric approach: "Exchange A for F on chain D."

Do you see the difference? The Intent Centric approach abstracts complex multi-step operations into a single intention, greatly simplifying the user interaction model.

1⃣ Why Intent Centric?

Why are VC firms and developers excited about this new primitive at its inception? This is because the Intent Centric primitive is not just a technical paradigm innovation; it represents the beginning of the transition of Web3 from "mechanism design" to "experience design." It has the potential to reshape the entire blockchain computing model and pave the way for true large-scale adoption.

The Intent Centric primitive has revolutionary effects in the following 5 aspects:

• Computational complexity optimization: By consolidating multi-step operations into a single intention, global optimization can be performed at the execution level. This not only reduces gas consumption but also significantly improves execution efficiency.

• State space compression: Under traditional methods, each intermediate step results in on-chain state changes. The Intent Centric mode can compress multiple state changes into a single state transition, greatly reducing on-chain storage pressure. This is particularly important for public chains with severe state explosion issues like Ethereum.

• Enhanced parallelism: The abstract nature of Intent allows the system to have more flexible scheduling at the execution level. For example, cross-chain Intents from multiple users can be batch processed, thereby increasing overall throughput.

• Enhanced interoperability: Intent, as a standardized abstraction, can greatly promote interoperability between different protocols. This lays the foundation for building a truly cross-chain, cross-protocol ecosystem. The practice of UniswapX demonstrates that route based on Intent can seamlessly integrate liquidity from multiple DEXs, providing users with better execution prices.

• Improved security: By encapsulating complex logic in auditable Intent executors, the security risks of direct user operations can be greatly reduced. According to CoW Swap's data, adopting the Intent mode has reduced losses due to user operation errors by over 90%.

2⃣ Instantiation of Intent Centric Primitives

Currently, there are (but not limited to) the following application cases for the instantiation of Intent Centric primitives:

• dappOS's Intent Assets: This is a typical application of state polymorphism. Intent Assets appear as a single asset logically, but may be distributed across multiple chains physically. When users express their intention to use them, the system automatically performs optimal cross-chain routing and aggregation. This design not only optimizes capital utilization efficiency but also provides users with a seamless cross-chain experience. Technical highlight: It adopts a ZK-based state proof mechanism to ensure the security and low latency of cross-chain operations.

• Renzo's "Restake from Anywhere": This is an innovative application of Intent Centric in the staking field. By abstracting staking operations as Intent, Renzo has successfully solved the liquidity and composability issues of ETH staking. Core innovation: It introduces a new staking token standard, allowing staking Intents to freely circulate between different chains, thereby achieving true "cross-chain staking."

• Everclear's liquidation layer: Everclear cleverly solves the liquidity dispersion issue in cross-chain operations by introducing an Intent liquidation layer. It virtualizes liquidity from multiple chains into a global liquidity pool, greatly improving capital utilization efficiency. Technical highlight: It uses innovative multi-party computation (MPC) technology to coordinate cross-chain operations, ensuring security and significantly improving execution efficiency.

• CoW Swap's batch auction mechanism: CoW Swap ingeniously solves the MEV (maximum extractable value) problem in DEX and significantly improves transaction efficiency by introducing a batch auction mechanism. This is a revolutionary application of Intent Centric primitives in the decentralized trading field. Core innovation: a) Batch order matching: CoW Swap collects users' trading intentions (Intents) in batches instead of executing them immediately. This allows the system to find the best matching in a larger order pool, greatly increasing the probability of execution and price optimization space. b) Off-chain solving, on-chain settlement: Order matching is done off-chain, and only the final settlement result is recorded on-chain. This design significantly reduces gas costs and improves system scalability. According to CoW Swap's data, this method can reduce gas costs by up to 90%. c) Competitive Solver mechanism: CoW Swap introduces a competitive Solver mechanism, allowing multiple Solvers to compete to provide the best order matching solution. This not only improves matching efficiency but also introduces decentralized elements, enhancing the robustness of the system. d) MEV protection: By batch processing and off-chain matching, CoW Swap effectively eliminates common MEV attacks such as front-running and sandwich attacks in traditional DEX.

From the above application examples, we can summarize the general architecture of the instantiation of Intent Centric primitives:

• User interface layer:

Function: Receive user input and generate standardized Intent objects.

Examples: CowSwap: Users specify the tokens and quantities they want to exchange.

UniswapX: Users select input and output tokens, as well as slippage tolerance.

DappOS: Users express the intention to use Intent Assets, such as cross-chain transfers or trades.

• Intent parsing layer:

Function: Parse Intent objects, extract key parameters such as token addresses, quantities, price limits, etc.

Examples: CowSwap: Parse the user's trading request and determine the trading pair and quantity.

UniswapX: Analyze the user's trading intention, including token pairs and price requirements.

DappOS: Parse the user's Intent Assets usage request and determine the operation type and parameters.

• Routing optimization layer:

Function: Calculate the optimal execution path based on the parsed Intent.

Examples: CowSwap: Use batch auction mechanism to find the best matching solution.

UniswapX: Calculate the optimal token exchange path, which may involve multiple DEXs.

DappOS: Calculate the best cross-chain path and execution strategy for the usage of Intent Assets.

• Execution layer:

Function: Call relevant smart contracts to execute operations based on the optimized path.

Examples: CowSwap: Execute batch orders through the selected Solver.

UniswapX: Call the selected DEX contract to execute token exchange.

DappOS: Execute relevant operations for Intent Assets, such as cross-chain transfers or trades.

• Settlement layer:

Function: Handle cross-chain operations, clear funds, and ensure that all parties receive their due assets.

Examples: EverClear: As a dedicated clearing layer, it coordinates fund flow and settlement between different chains.

DappOS: Handle settlement and synchronization of Intent Assets across different chains.

These projects abstract complex on-chain operations into simple user intentions, greatly simplifying user interaction. Moreover, they are highly flexible and can adapt to different application scenarios and user needs.

3⃣ On-chain data representation and the hidden "Layer 0" of non-falsifiable truth

Unfalsifiable truth is not science, and a primitive that cannot achieve PMF is just empty talk.

Viewing the Dune data dashboards for the above 4 instances, we can see that Cowswap's data performance stands out, Renzo's "Restake from Anywhere" has relatively impressive performance, while DappOS and EverClear's on-chain data currently show relatively average performance.

Cowswap addresses real pain points for on-chain trading users in terms of MEV resistance, gas-free transactions, advanced orders, and more. It only requires a signature, without the need to spend gas fees for Approve and Swap, to execute a transaction. Of course, you still need to pay the transaction fee.

Renzo's "Restake from Anywhere" solves the interaction complexity and additional cross-chain operation costs for Wrap ETH participation in Restaking points farming on other L2/L1 platforms.

DappOS's Intent Assets addresses the need for users to maintain both on-chain native income and high asset liquidity with lossless interchangeability.

EverClear's liquidation layer provides new underlying infrastructure for the protocol in the era of chain abstraction, addressing the pain points of Solver rebalancing, programmable liquidation, and permissionless chain extension.

The varying on-chain data performance of these instances is due to their differences in the Web3 intent expression-execution stack selection layer and competitive environment.

The Web3 intent expression-execution stack can be divided into 5 layers:

• Layer 0, the entry layer of the Web3 intent expression-execution stack: Twitter, Google search, Telegram, AppStore, crypto vertical media, Facebook, Kakao, WeChat, etc.

• Layer 1, the wallet account layer of the Web3 intent expression-execution stack: MetaMask wallet, OKX wallet, Bitget wallet, Coinbase wallet, Ledger wallet, DappOS wallet, Privy wallet, etc.

• Layer 2, the intent expression layer of the Web3 intent expression-execution stack: Cowswap, UniswapX, Anoma, Socket, Across, etc.

• Layer 3, the intent execution layer of the Web3 intent expression-execution stack: Liquidity providers, LP, Solver service providers.

• Layer 4, the liquidation layer of the Web3 intent expression-execution stack: Everclear.

• Layer 5, the settlement layer of the Web3 intent expression-execution stack: L1 & L2.

Currently, Cowswap and Renzo's "Restake from Anywhere" are positioned favorably in Layer 2. Everclear, positioned in Layer 5 as a newly emerged middleware, is still in the early stages of growth. DappOS, positioned in Layers 1, 2, and 3, faces intense competition from both ends. As a challenger, it is struggling to compete with giants such as MetaMask, OKX wallet, and Bitget wallet, relying on its self-built Intent Assets and Solver network.

It is worth noting that Layer 0 of the Web3 intent expression-execution stack is currently in a hidden state in the design architecture of the current Intent Centric instances. However, Layer 0, as the entry point of the Web3 ecosystem, not only provides user acquisition channels but also shapes user cognition, influencing product positioning and market competition landscape.

For Intent Centric instance projects, it may be beneficial to draw inspiration from Solana Blinks' approach and move intent expression from Layer 2 to Layer 0, establishing direct contact with users, which will be key to achieving and maintaining PMF.

4⃣ Future Outlook: Potential Revolution of the Intent Centric Paradigm

Beyond the existing instances, the Intent Centric paradigm has the following untapped potential:

• Paradigm shift in computing: The shift from "instructional" to "declarative" may completely change the way smart contracts are written. Imagine, in the future, DApp developers may only need to describe the desired outcome, rather than detailed execution steps.

• New model for cross-chain state synchronization: Intent may become a new carrier for cross-chain state synchronization, laying the foundation for true interoperability. This may lead to a shift from "single-chain centralization" to "multi-chain collaboration."

• AI-driven Intent optimization: Combining Large Language Model (LLM) technology, we may see AI agents that can understand natural language Intent and automatically optimize execution paths. This will further lower the barrier to use Web3.

• Decentralized Intent marketplace: With the standardization of Intent, we may see decentralized markets specifically for matching and executing Intent. This will create new opportunities for arbitrageurs and liquidity providers.

Above.

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