Composable MANTIS: cross-chain intent settlement over IBC
Thread935 words
Explains Composable's MANTIS framework: solvers in the Composable VM, multi-domain auctions, an execution language and IBC settlement on the Composable Cosmos chain, as the cross-chain settlement layer for AA wallets.
Key claims
No credibly verifiable way yet to settle orders across chains at the same time
MANTIS scores intents by volume cleared and screens for MEV
Settlement happens on the Composable Cosmos chain with messaging over IBC
Intents will redefine Web3 UX & get us ready for mass adoption! 🚀
Text-based intent expression at wallet level & chain-agnostic execution across a unified backend of chains. 🌐
Thanks to cross-chain intent settlement + IBC this will soon be a reality! 🤯
A game-changer 🧵
@ComposableFin 1/ This thread is part of my blog post series on @ComposableFin! ✨
Check out the full blog post here! 👇
zkmedia.substack.com/p/composable-cross-chain-intents?utm_source=substack&utm_medium=email&utm_content=share
2/ Web3 UX today is complicated and fragmented across isolated ecosystems. This issue grows as we a multi-chain future becomes a more tangible reality every day.
To onboard the next billion users, UX needs an upgrade.
3/ Account Abstraction (AA) is an important first step that will abstract a lot of complexity on the user front end.
But the true endgame goes beyond that.
AA wallets that serve as an intent expression layer on top of a chain-agnostic intent settlement layer.
4/ To understand what I mean, have a look at my thread on AA here 👇
x.com/zerokn0wledge_/status/1642889752839077888
5/ Or check how AA and Intents come together here 👇
x.com/zerokn0wledge_/status/1724698841054908463
6/ What I want to focus on in this thread, is the IBC-powered cross-chain intent settlement layer that @ComposableFinance is building.
7/ This is an absolutely essential piece of infrastructure for an intent-centric future and hence a true game changer for Web3 UX!
But let’s just recap the concept of intents! 👇
8/ When interacting with a blockchain or an on-chain application, users express their desires to accomplish specific tasks, such as:
🔄 Token swaps on Uniswap
💸 Transferring tokens
💧 Providing liquidity
9/ The current, transaction-based flow in blockchain requires users to issue very specific instructions for every step of the interaction, such as:
✅ Approving tokens
✍️ Signing transactions
10/ This approach demands concise order and execution.
Intents represent a fundamental shift from this imperative paradigm. Unlike transactions that explicitly specify the method for performing an action, an intent focuses on the desired outcome.
11/ For instance, a transaction might state:
"do A then B, pay exactly C to get X back"
An intent would express:
"I want X and I'm willing to pay up to C."
12/ Intents allow users to express their requirements and conditions without pinpointing the specifics of fulfillment.
13/ @Paradigm defines intents as follows 👇
“An intent is a signed set of declarative constraints which allow a user to outsource transaction creation to a third party without relinquishing full control to the transacting party”
14/ So, when a user signs and shares an intent, they effectively grant permission to the third party (a.k.a. solvers) to choose a computational path on their behalf.
15/ This distinction allows for a slightly more precise definition of intents as signed messages that permit a set of state transitions from a given starting state.
A transaction is a special case of an intent that allows for a unique transition.
16/ While the concept of intents in DeFi is promising, there isn't a universally agreed-upon definition.
However, I strongly believes that:
🌐 Intents are inherently cross-domain
🥷 Blockchains are inherently trust-no-one markets
17/ What I mean, is that different blockchain ecosystems often can’t communicate with each other.
They are isolated economic zones with their own currencies, laws and trust assumptions.
18/ Consequently, there is thus a huge amount of potential loss due to lack of synchronicity between these markets.
The key issue is that currently, there is no credibly verifiable way to settle orders between chains, and settle them at the same time.
19/ Composable recognizes this inherent cross-domain nature of intents & the fundamentally trustless nature of blockchains and the resulting inefficiencies that need to be addressed.
20/ In combination with a (trust-minimized) message passing solution like IBC and a chain-agnostic settlement framework, intents can revolutionize UX and cross-chain composability in a multi-chain future.
21/ MANTIS is exactly that! It enables use cases like:
🌟 Interchain CowSwap: Compute routes for multiple types of solutions including RFQ DEXes, CoWs, CFMMs, & market maker liquidity (learn more in the full blog post!).
22/
🌟 Multi-domain auctions: Credible commitments and decentralized block-building. ICS Spec for commitments over IBC, with a focus on the AEZ.
🌟 Settlement over IBC: The Composable VM (CVM) allows for the completion of intents on different execution environments.
23/ The MANTIS framework will be based on Composable’s Cosmos chain and is comprised of several key components:
⚙️ Solvers in the CVM: In the CVM, solvers take in data about users’ transactions, develop solutions, and are incentivized for their efforts.
24/
⚙️ Cross-Domain Communication via IBC
Utilizes the Inter-Blockchain Communication protocol to enable efficient cross-chain intent settlement, connecting diverse blockchain ecosystems like Polkadot, Kusama, Cosmos, Solana, and Ethereum.
25/
⚙️ Multi-Domain Auctions
User intents are scored based on volume cleared, with solutions screened for maximum extractable value (MEV) and bundled into a block for each domain.
26/
⚙️ Language for Execution
When the best solution is found, it is turned into a CVM program, specifying the execution route.
27/
⚙️ Verifiable Settlement
Ensures that transactions resolving intents are verifiable and partial block aware to improve cross-domain censorship resistance.
28/ All the cross-chain messaging happens via IBC with settlement on the Composable Cosmos chain , optimized for facilitating order flow processing.
29/ The combination of IBC and MANTIS enables seamless order flow processing, distribution to many ecosystems and allows us to abstract a lot of complexity from the user experience.
30/ Integrating this kind of chain-agnostic intent settlement technology directly into smart wallets where users express intents through text or voice that are subsequently picked up by AI-powered solvers, is the future of Web3 UX!
6 images on X
What came next · since 30 Nov 2023
Since then
Zero has written 2 more pieces on Composable Finance since this one.
- Composable MANTIS: cross-chain MEV and intent settlement across IBC chainsOn Composable Finance
- Composable cross-chain intents: MANTIS and the Composable VMOn Composable Finance