Decentralized Finance (DeFi) puts complex financial products into the hands of users, allowing them to mix and match different DeFi products to build their “money legos.”
The problem is that it creates complex workflows as users move funds between bridges, liquidity pools, and other DeFi products to achieve their desired end goals.
This is where Aperture Finance’s Intents come into play. “Intents are a departure from the transactional approach to Web3 and DeFi,” said McDavid Stoddard, head of growth at Aperture. decryption. In these trading models, the transactions are “usually too complex to fully understand what’s going on,” he said.
He explained that Intent allows ordinary DeFi users to access “execution types and pricing that were previously only accessible to large-scale prop shops run by institutional funds and teams of internal developers.”
Built on Aperture’s Intents Uniswap V3, the user declares the end goal and the transaction is executed only if it matches the user’s desired outcome. For example, users can sign a message telling them to rebalance their liquidity position when it reaches 3,000 USDC per ETH, to rebalance in a 50:50 ratio between 2,800 and 3,200 USDC, and to specify the acceptable price impact range. From swap and gas fees.
A decentralized network of solvers then identifies possible transaction flows and publishes them to the Aperture smart contract. Here they are ranked and simulated based on simulations. Aperture launched one centralized solver, and in the second quarter, third-party solvers, including PropellerHeads, joined the network.
In addition to building a network of third-party solvers, Aperture’s future roadmap includes Large Language Models (LLMs) that will allow users to express their intent in natural language and mirror that back into a readable, domain-specific language. (DSL) can be passed to the resolver as the user’s “declaration of truth”.
Stoddard likens the user experience to ordering a pizza. “You tell the operator, ‘I want your biggest pizza, whatever it is, with all the meat on it.’ The operator will reply, ‘Okay, would you like a huge meat-loving pizza?’ And the user says, ‘That’s what I wanted.’” Aperture’s UX will allow users to express their DeFi intentions in similar terms, he explained. “When a user says, ‘Please rebalance to the most profitable position,’ the DSL has to reflect that. The DSL itself is readable enough for the user to know if the translation is correct.”
Ultimately, Intent will be the key to making DeFi accessible to everyone from mainstream consumers to TradFi institutions and providing existing DeFi users with access to more complex financial products at prices comparable to those obtained by the most sophisticated MEV players and market makers. Stoddard explained:
“It’s about making the learning curve less steep for external users,” he said, adding, “It gives the existing DeFi user base more choice and more expressiveness about the type of strategy or approach to the on-chain activities they’re executing.” added. ”