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Intent and Interop Tokens

All assets will be onchain and every major enterprise will have a blockchain?

The future of blockchain transactions is abstraction of intention from underlying technology and interoperability. Just like sending a txt message is today.

Investment Thesis​

Trust minimized services, often enabled by Zero Knowledge Proofs that allow data to flow into and between blockchains to feed into smart contract logic and fulfill intentions. Intents focus on improving user experience by abstracting complex blockchain interactions, while interoperability focuses on enabling communication and asset transfer between different blockchain networks.

Projects like eigenlayer.xyz and Rollups as a Service mean there will be 1000s of blockchains,making verifiable truth in the exchange of value across chains a critical component of the internet of truth.

Intent-based aggregation architectures aim to simplify decentralized trading by allowing users to express their desired trade outcomes intents rather than specifying all transaction details. Third-party "solvers" then compete to optimally execute these intents across different liquidity sources and chains, potentially providing better pricing, reduced gas fees, and MEV protection for users.

Intents​

Intent protocols operate primarily at the application layer.

  • Focus on user goals: Intents express what a user wants to accomplish, without specifying how to do it.
  • Abstraction layer: Intents provide a higher level of abstraction, allowing users to express desired outcomes rather than detailed steps.
  • Solver-based execution: Intent-centric systems rely on solvers or executors to determine the optimal way to fulfill the user's intent.
  • User experience improvement: Intents aim to simplify complex blockchain interactions for end users.
  • Primarily intra-chain: Most current intent systems focus on optimizing transactions within a single blockchain or ecosystem.

Interoperability​

Interoperability operates at the blockchain protocol and infrastructure layer.

  • Focus on cross-chain communication: Interoperability enables different blockchain networks to exchange data and assets.
  • Protocol-level integration: Interoperability solutions often involve creating standardized protocols or bridges between chains.
  • Direct execution: Interoperable systems typically execute transactions directly across chains, rather than relying on solvers.
  • Infrastructure improvement: Interoperability aims to create a more connected blockchain ecosystem at the protocol level.
  • Inherently cross-chain: Interoperability is fundamentally about enabling communication between different blockchain networks.

Protocols​

You can't make intelligent decisions without access to the right data.

Attachments​

Media​

Bell Curve: The multi-chain endgame, concluded Apr 2024.

  1. Modularity, Network Effects and The Intent Paradigm
  2. How Intents Unbundle Assets from Protocols
  3. The Chain Abstraction Thesis
  4. Service Providers vs Immutable Protocols
  5. How ZK-Proofs Will Change Crosschain Interop Forever
  6. How Pre-Confirmations Unlock L2 Interoperability
  7. Network Effects and Value Accrual in Crypto
  8. Crypto's Multichain Masterplan
  9. Interoperability's Product-Market Fit with Wormhole

Coinfund, Jun 24 "Intents are underrated".

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