♨️The 3 Pillars

The BalloonDogs Ethos

The 3 Pillars

Intents aim to accelerate mass adoption. However, the most effective way to leverage this concept remains to be determined.

We identify three main pillars that should be employed to define and measure any solution based on the intents concept:

Simplicity

Break Down Communication Barriers

By providing a simpler, more natural way for users to express their goals, we eliminate knowledge barriers and save them from getting stuck in tiny details to access premium execution. Eliminate the need to master technical jargon. Users should express their desires in their own words, not 'gas fees' and 'nonces.'

For example, swapping USDC for ETH on a standard AMM today requires you to be aware of your gas limit, approvals and spending limits, and slippage, among other things. With intents, this is far simpler, requiring only the desired outcome of the transaction.

Optimization

Not Just Execution, Efficient Execution

Following the theme of simplicity, the optimization principle in an intent system takes this user-centric approach a step further by ensuring the most efficient use of assets. In the context of trading NFTs or tokens, for example, the system understands the user’s goal and actively works towards achieving it with the minimum necessary expenditure of assets. This optimization is crucial as it adds significant value to the user’s experience and execution.

MEV is not a Motive Unless the User Benefits

The occasions on which MEV negatively impacts user execution generally arise due to the high degrees of freedom that transactions give up to their executors (e.g., slippage limits). It is thus no great leap in logic to assert that intent-based applications that surrender greater degrees of freedom should design their systems for execution with greater caution.

An intent-based solution has the potential to make interactions appealing by reducing fees and optimizing prices. By integrating this optimization principle, the intents system becomes more than just a facilitator of transactions; it becomes a steward of the user's assets, safeguarding their interests and maximizing their value.

Security

As of now, even with the adoption of EIP-712, the average user is not likely to understand what they are signing. Not being able to validate their intention makes them vulnerable to various attacks, scams, or innocent mistakes.

In an intents system, security is essential in maintaining users' trust and the system's integrity. The security measures ensure that every transaction and interaction is conducted safely and securely, protecting against potential vulnerabilities and threats. By prioritizing security, users can have the peace of mind that their data and interactions are always protected.