A Limited Hybrid Landscape

Examining the current permissioned Solver landscape, what do you see? For the privilege of issuing efficient token swaps—an early limited scope of Intents—providers forgo the decentralized tenets the Web3 community embraced, i.e., control and security: Users grant blanket permissions to third parties to manage their funds.

Status Quo Is Poised For Disruption

BalloonDogs' decentralized algorithm concept disrupts that early Intents dynamic. As the Web3 UX transitions to the higher usability abstraction of Intents, the Web3 premise that users maintain control over their assets at all times is inviolable.

We Cheer ERC-4337

We examined the community's work on ERC-4337 to introduce Account Abstraction within the Ethereum ecosystem. We discerned that the evolving ERC-4337 standard meets the Intent delegation needs head-on. This realization led to the conception of the decentralized algorithm for carrying out Intent actions, excluding any unilateral entity control over user funds.

Broadening the Scope of Intents

As a pleasant side effect of adopting ERC-4337, BalloonDogs broadens the scope of Intents beyond limit orders to include any Defi and Web3 interaction. Can any Web3 use case be expressed as an Intent? Absolutely, and we set out on this epic journey to express that vision.

An Inclusive Permissionless Ecosystem

BalloonDogs aims to create a dynamic community of developers, liquidity providers, and users who can collaborate to create an inclusive, efficient, and secure blockchain ecosystem. Through native decentralization plumbing, open node ERC-4337 infrastructure, and SDKs, BalloonDogs aspires to welcome liquidity providers to plug in and developers to build Intent-driven applications that speak Web3 natively.

Solvers the Dark Horse Driving Intents

Intent auctions summoning solvers for competitive bids are ideal for centralized markets. It is proven and promotes acceptable control over cost, slippage, and overall value. It is also convenient for hybrid decentralized protocols to borrow a play from the Tradfi playbook. But we can do better, natively, in Web3 contexts. The BalloonDogs initiative envisions a future of blockchain interactions that departs from the constraints of permissioned Intent solutions. At its core, this vision aims to democratize Intent fulfillment by removing centralized permissioned players from the mix--the solvers. You cannot help as a solver to cut your margins to win bids if you cannot dip in the MEV sauce afterward to stay financially viable. MEV drives participation in auctioned Intent markets but does not favor the users' interests. We are doing away with Solvers at BalloonDogs.

Cross-chain speak

Distinguishing our decentralized approach from existing solutions confined to single-chain operations, BalloonDogs stretches cross-chain Intent within ERC-4337 delegation reach. The topic of atomic cross-chain liquidity and execution is receiving incredible decentralized attention these days, and BalloonDogs is capitalizing on that work. To BalloonDogs, cross-chain interoperability aligns with the industry's documented aspirations towards borderless programmable money, where user assets are put to work across many diverse ecosystems without sacrificing user autonomy or security.

Let's Recap: What Account Abstraction Buys Us

Applying dynamic delegation alongside ERC-4337's infrastructure translates to fine-grained user approvals for any and all Web3 use cases. It mitigates the risks associated with blanket permissions and delivers on the Account Abstraction's promise of boundless Web3 interactions. And did we say secure with the user in the driver's seat? Unlike existing Intent solutions focusing on token swaps within a single-chain context, BalloonDogs leverages ERC-4337 smart wallet abstraction to embrace the full spectrum of blockchain interactions with multi-chain contexts. Cross-chain interaction is just another user-induced state change. From cross-chain swaps, staking, and loans to DAO governance and the nuanced terrains of NFT and gaming ecosystems, BalloonDogs aspires to facilitate state changes across any Web3 application domain.

The fledging Intent initiatives need trustless execution as the Web3 community needs Intents to onboard the next billion users. We found dynamic delegation to be amazingly fitting in this regard. Second, by democratizing access to liquidity--which we discerned is the consistent winning factor in auctions--BalloonDogs eliminates the need for permissioned solvers while infusing the decentralized algorithm with comprehensive liquidity, culminating in immensely efficient solutions. With the decentralized algorithm, diverse solving strategies can coexist harmoniously, but far more significantly, it eliminates the infrastructure barrier liquidity providers need to plug in. We think this will lubricate solutions to stay competitive even in Tradfi trading contexts.

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