Glossary · I
Intent-Based Trading
A trading model where users sign a desired outcome (an intent) — e.g. “swap X for at least Y” — and solvers compete to fill it optimally. Also searched as intent trading or intent settlement. Protocols such as CoW Protocol use intents to reduce MEV versus sending a raw swap straight to the public mempool.
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How Intent-Based Trading works in practice
Intent-based systems let a user state the outcome they want — this asset for that one, at no worse than this price — and have competing solvers work out the route. The user signs an intent rather than a transaction path.
Worked example
Instead of choosing a DEX and a route, you sign 'sell 10 ETH for at least 29,500 USDC'. Solvers compete to fill it, and the winner keeps any surplus above your limit or passes it back, depending on the design.
Figures are illustrative and chosen to be checkable, not live market data.
The mistake that costs people money
You are trusting a solver network to find a good price. Competition usually delivers, but a thin solver set can mean worse execution than routing yourself — and the surplus above your limit may not be yours.
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Intent-Based Trading: common questions
- What is Intent-Based Trading?
- A trading model where users sign a desired outcome (an intent) — e.g. “swap X for at least Y” — and solvers compete to fill it optimally. Also searched as intent trading or intent settlement. Protocols such as CoW Protocol use intents to reduce MEV versus sending a raw swap straight to the public mempool.
- How does Intent-Based Trading work in practice?
- Intent-based systems let a user state the outcome they want — this asset for that one, at no worse than this price — and have competing solvers work out the route. The user signs an intent rather than a transaction path.
- Can you give an example of Intent-Based Trading?
- Instead of choosing a DEX and a route, you sign 'sell 10 ETH for at least 29,500 USDC'. Solvers compete to fill it, and the winner keeps any surplus above your limit or passes it back, depending on the design.
- What do people get wrong about Intent-Based Trading?
- You are trusting a solver network to find a good price. Competition usually delivers, but a thin solver set can mean worse execution than routing yourself — and the surplus above your limit may not be yours.