NEAR Intents explained: chain-abstracted solver-based execution
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Explains NEAR Intents, built on chain signatures: users state outcomes, solvers compete with quotes, and settlement happens onchain. Walks through the six-step workflow and notes solvers can filter by KYC and compliance, which suits institutional use.
Key claims
Workflow: advertise intent, collect solver quotes, sign commitment, onchain settlement, finalization, optional dispute resolution
Offchain advertising reduces MEV and latency
WTF are NEAR Intents?
➤ NEAR Intents are built on NEAR's Chain Signatures and the sharded L1 to enable a fully chain-abstracted UX across crypto, enabling new use cases and seamles cross-chain interactions
➤ NEAR Intents allow users to specify desired outcomes without detailing execution methods, spanning crypto swaps, online purchases, AI tasks, or real-world actions.
➤ NEAR Intents act as a unified liquidity layer, connecting various parties (human or AI) to fulfill user requests, forming legally enforceable commitments settled onchain (and across chains).
➤ NEAR Intent Workflow:
- Advertising intent (broadcast, order book, direct outreach)
- Collecting quotes/options from solvers
- Committing to a selected option via signed agreement
- Onchain settlement initiating solver execution
- Finalization upon successful outcome
- Optional dispute resolution predefined by agreement
➤ Solvers can choose participation based on various criteria, incl. KYC status, funding sources, and compliance requirements, ensuring a basis that can serve for institutional fiat & crypto integrations.
➤ Offchain advertising and flexible solver participation reduce issues like MEV & latency, enabling a scalable, global market across crypto & fiat spanning both web3 and real-world use cases.
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QUOTING @NEARProtocol
"Okay, but HOW exactly is NEAR powering crosschain, near instant, super UX friendly swaps between the likes of BTC, ETH, SOL, XRP, DOGE, NEAR, ZEC, and (way) more?" By the power of NEAR Intents. Find out exactly how NEAR Intents works: t.co/kZT53828GY
"Okay, but HOW exactly is NEAR powering crosschain, near instant, super UX friendly swaps between the likes of BTC, ETH, SOL, XRP, DOGE, NEAR, ZEC, and (way) more?" By the power of NEAR Intents. Find out exactly how NEAR Intents works: t.co/kZT53828GY