Dating Intent-sionally | SheFi Summit Bangkok
SheFi Summit Bangkok 2024 · 11 Nov 2024 · 22:45
Panelists use a dating format to compare how different swap designs handle intents, which they define as signing the outcome you want rather than baking the execution route into the signature. Each plays one design: CoW Protocol with private intent handling, a gasless swap API, a traditional aggregator with market makers and an AMM fallback, and a private intent pool using requests for quotes that does not exist yet. Scenarios include an urgent sale without gas, a patient sale over 15 days, a first swap for a beginner, a trading bot, and an institution that needs an approved list.
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From SheFi Summit Bangkok 2024, hosted by SheFi.
Transcript
[Music] hi everybody um how's it going so nice to see you all I've got a lot of items here that I'm going to manage um I am Natasha I'm one of the co-founders of boys club boys club is community and Media company that looks at emerging technology through podcasts and newsletters and events and a lot of other fun stuff I'm very excited to be here today with this incredible panel of people who are going to be talking about intents so we are going to have a little bit of a fun participation game so first what we're going to do is we're going to
Define intents which are like a hot it girl in defi right now but many of us maybe don't know what that is and that's totally cool I learned about it when I was asked to do this panel so we're all learning we're learning together so we're going to start with explain it like I'm five so re is going to give it give it away and let us know and then we're going to work through some other um ways of learning about this hey everyone I'm raika um I've been building intense all year and so I've learned to explain this to my mother so I'm going to try to do that right now so blockchain intense they sound very scary but they really is they really aren't and that's why we're putting it in the context of dating because what intents
are generally is an expressed desire in the context of blockchain they an expression of defining the outcome of a transaction cuz traditional transactions are usually you bake in specific requirements of how the execution should specifically happen and instead of putting all those into the signature you're just putting your outcome into the signature which is much more specific much more flexible it's going to be in every single d project hopefully that we're going to be using soon and we thought to make this a little more approachable with the existing protocols that use intense and many of our my fellow panelists are experts in this and we're trying to show it with dating I love it I love it okay
so in in like sort of summary it's exactly what it sounds like you want to do a thing you're trying to figure out the best place to do that thing and so as with dating you got to try a few things to figure out what works for you um so I have some Flags I I'm going to try to figure out how to incorporate the flags throughout this panel um but first what we're going to do is everybody's going to introduce themselves and what they're going to do is they're going to take an intent so they're going to say like this is the model that I am going to represent and then as we go through different scenarios of things you want to do on chain they're going to talk about how their model is uh different or varied from the other panelists so do
you want to take it away with a brief intro on who you are and also the intent you have all right um so I'm representing cow protocol which is one of the pioneers of intense what to know about me is I'm a Taurus because cows are Tauruses tus represent Taurus I'm yeah um and what to know is I'm very very protective I'll keep all of your intents really safe in a private pool and us is that I'm extremely reliable I'll make it work yes I'm talking with multiple people yes I'm sourcing the solution from many different sources But be sure that at the end no matter how long it takes even if I delay the solution a little bit you'll get it nice
nice I'm tracking are we tracking great great a that was a great intro so in real life my name is Jessica um but uh in this intent World um I'm representing xx's gasless API so I'm going to be an Aries in this situation and I actually don't I don't I don't subscribe to intense cuz I think I can get you the best route you just hand whatever you need hand it off to me I'll find the best route for you I'll even cover the bill I'll cover gas hence gasless so you know why why waste your effort like playing around with others just come to me and I'll get wow just coming out swinging I love it that that that's a green flag yeah yeah that was a hard
pitch you're either the one or a scam yeah yeah uh hi everyone my name is Danny in real life and I'm presenting I guess how to say like the traditional or like the normal type of swaps website you will see so like uh I don't know if everyone knows Macha XYZ which is where you can go and swap any tokens and what it will present you is basically say okay what token you want and I'll give you these routes and I have routes to the amm like Unis swap Sushi swap SPS I also have some Market maker who is behind uh my routes I'm waiting for you to ask me to quote you and the market makers they have lot of inventory in centralized Exchange their trading
constantly they are able to provide a potentially a better price than the amm liquidity so that's how the traditional or like a normal I guess like Dex looks like and I'm presenting that and because it's kind of tra so my my I guess my star is cancer yeah uh yeah I'm doing everything in the safe and traditional way right and so um but the highlights of my best trads is that I would never ghost you because um I will ask my uh Market maker friends for what's better quote that can be but if they don't respond I will be able to quote you whatever that's in amm um as a fallback so you will always get fulfilled for your orders another thing to highlight is that I have a lot of rich friends who are like you know 65 trust fun baby
finance and uh blue eyes uh what does that mean is just generally means that you know we are very you know well sourced across many market makers with a lot of inventory to be able to feel your intent I guess yeah okay so maybe maybe this person's a little boring to date but quite reliable Fair yeah okay all right GM everyone my name is Evan and I am your favorite Founders favorite founder and today I am your favorite intent framework's favorite intent dream intent framework and that's because I don't quite exist yet so today I am here repping private intent pools with requests for quotes So as a Libra of
course I am Fair drawn to balance and Harmony embodying an intent framework that's going to allow me to get you the very best of the best that means efficiency where I'm a great Matchmaker I'm going to pre-select those parties that I think will be best suited to your needs and then we're only going to tap the folks that are imminently qualified there's no reason to spray and prey when it comes to your attention and your capital okay I love it but it's a little bit of a red flag that it doesn't exist yet but I love Evan so we're going to let it slide okay great job truly um okay now what we're going to do is I'm going to give some scenarios so real life scenarios of you might be out and about doing things
and you're trying to figure out where out of all these protocols make the most sense for you where you should land and do the thing that you're trying and intending to do and our panelists maybe will take two for each so that we can get through a lot of them um so the first one here is I'm out to dinner when a friend tells me that XYZ token is about to rug and I need to dump them ASAP but I'm on mobile and I don't have enough for gas in this wallet and I have been at a dinner where this has been the case and I will tell you it was not me but that friend was very stressed and she was like I need to be moving at the speed of light and I was like I cannot help you and so it was scary so um why
don't Jessica do you want to make your argument as why you'd be the best place to do this intention sure well like you said it like you don't have enough gas well that's why I'm here for you I got you covered so the way I work is you I just I can help you with whatever you don't need to hold gas whatever token that you're planning to sell you know I'll just use a little bit of that cover the gas fee for you and then you got your swap covered so no stress I'm also going to find you the best route I got friends I also got friends rich friends with good good pricing great pricing honestly who can help you out um so you great work work with me honestly you're going to get it done that's pretty compelling that's pretty compelling okay
uh Danning do you want to make an argument I mean if you don't have gas I'm I don't know if I yeah I it's G it's still it still exists it has to work for the system to work we just work it in the back end to to no no no I I'm I'm saying for me uh as like the traditional swap I I'm saying is like I'm I'm not rugging but like in this case you're probably need to find Jessica this really tracks with actually dating that type actually work quite well together so not good this is not for me great great do you want to make I was going to say Jessica just did promise to work it in the back end and so maybe that's a green [Laughter] flag
oh okay next scenario um okay uh my credit card statement is kind of high this month and I need to take some profits couldn't couldn't be me on the profits front but I want to sell some eth or other tokens I don't care as much about speed but I have 15 days for the bill so we've got ample time but I do want to maximize the final amount that I'm getting do you want to take it yeah let's hear let's have so much time you know I have so many other conversations going so if you feel like it I can just put you in the batch of those and maybe in those 15 days we'll have an in-house situation going so you don't you get you don't even need to go to the market to
make this happen I can make it happen for you within those two weeks within the two weeks great I love that and then we don't even know to go public with it you know so you can make you can make it work if it doesn't happen if there's no one else who would be a good fit for you for this deal then I'll put you in the market and I'll definitely find a solution for you great great Okay evan I feel like you might oh we've got some oh Natasha baby girl why are we putting your bills on blast what there is no reason for what's happening between you and I to become public in fact I think we should have a little discretion when it comes to taking care of the money that you owe to others and so I think it is a fair and balanced way I would maybe
prioritize a selection of Ideal uh counterparties because you got a little bit of time but there's no reason that when those 15 days run out you should just go to the streets you know I think we could take care of this privately okay okay great compelling anybody else yeah I I mean like for for this person I need to say that you need to know what you want right like either you want to wait for 15 minutes but the price will not be in your favor cuz the price today 2,000 will be 3,000 in 15 days so but if you come to me I can fill you for the best price at the market at the time with my best like the rich friends you know if you choose an intent protocol they will let you wait and say that's the best for you the price is going to
move so what do we think guys I think this is a green flag no Dan Danning I think Danning I think Danning wins okay great I mean not that it's a competition um okay but okay let's go to the next uh scenario here I finally got my my brother in web 3 and I need a really simple safe place for him to start defying he's still learning all the concepts doesn't care that much about speed or need for efficient pricing but this is a safe place we want a protective environment for him to just get started Jessica do you want to make your argument sure so safety is a big concern here it sounds like um so I can help with that so mitigating me U making
sure that with RFQ um we have we can get quotes from our private market makers and then also through our routing we can make sure we reduce the slippage he gets um so really making sure that you know it's a comfortable experience and then also again gasless like gas having to hold the native token um trying to convey that to a newbie sometimes it's like another another hurdle so why add that on so I can take sure I can make sure he has a smooth onboarding experience make sure he gets that gets that swap um quick and easy um doesn't have to wait two weeks for it gets it done right there so I see a point that like they can start smoothly if they don't have gas right they can go to you
and like swap some token out and just have the experience but I want to say like they want to start safely as they start with the major token right like you come to crypto I mean many people probably come in through the meme coins but what will happen for them like it's going to become zero the next day um I would my suggesting for a friend a real friend to come into crypto would be yeah you probably should long time holding some Bitcoin or ethereum not Financial advice but that will be the safe rout so and I would say that I will still have the best pricing for those major coins yeah yeah real quick I would say when your brother is ready to level up tell him to call me for some unprotected decks okay so out of all of these what which
one would you guys say is the highest risk place to get started like where would you not recommend someone get started oh I think I am a little risky a little Saucy partly because there's a lot of dark poool energy in here and also very experimental not yet defined in a way that you can anticipate so Advanced skiers only here okay private intent poool not the place that you're going to recommend your brother go um okay great now we're going to the other end of the spectrum like truly okay you've leveled up in a major way and you've built an AI trading bot who should I integrate with well I'm just going to be a wing woman here and like I think swaps pretty good for this case I know sometimes I try to take over things
but I think with swap you get more flexibility again with you don't have to only rely on me to do everything so swaps got more flexibility here just going to shout out Mar I I app I appreciate the shout outs and I think like yeah in this case you will have to rely on pretty much amm liquidity the rich friend will not bother you know if you're trading a Munden Obama shba something something token and so I I I think I have a pretty good inventory on that and I would say I would encourage you guys to also try the with the Reckless brand you know where if you're already using AI agent trading bot to to make your portfolio why not try something crazy I guess I think you make a really good point here so sometimes we
talk about missionaries and mercenary so if you're into that safe missionary energy go with the standard offering but for those who need a little bit more of a flexible framework you want to bend it like a pretzel with your Agents come through I want to date Evan she's had a good time she's out there on men streets is a beautiful day on chain thank you Natasha I love it it's great um okay next scenario here I'm an Institutional player and our GC has given me a specific list of things I can and can't do people and groups I can and can't interact with who can accommodate this type of intention oh I can't deal with players someone else yeah that's a pass for Evan I mean I have a lot of
involvement in a lot of places and very private but I don't think you can have that granular ruling over what I'm doing for you so you can't go that granular you are wild and crazy there any other takes like approv lists so it sounds like you're looking for like an approv list situation exactly being able to to know who's coming into to swap be able to have a little bit more like control over if you don't want a a bad player a malicious player coming in um so I think because we are apis um as a team we're able to to work with certain products chain analys be able to anal analyze um the swaps that are going through and be
able to help you know if you need an approved list we can can help with that nice the way that I this has made sense to me is if you you can think about it as like muted words on Twitter basically like these are things that I am unwilling to get involved with and who can I work with that will help me uh maintain that in a way that I don't have to think about all the time anything else Tad great okay we're coming into our last scenarios here um I'm building an MVP for the NextGen wallet and need to integrate a swap future what I care about the most is let's let's say you care most about trust you want to make sure that where what you're integrating to you can trust and you're trying to navigate which one of you will be the
most trustworthy well not looking at Evan not Evan definitely not and honestly I don't know about you either yes so my contracts are really good for what you're looking to do building deps are excellent great um lot of trust okay and not betray you and yeah you've been pretty transparent throughout this whole thing yeah you've been pretty clear on what kind of there's more play involed but there's a lot of batches that you can interact with but it's private you can use my smart contracts build anything fully customize it but you don't have granular control but in this case more important thing is trust so I'm your guy great okay let's go everyone everyone down the so yeah trust is a big thing for you so all our all
the trades going through uh through our API are settled in a public um through a public protocol so it's all uh traceable trustless so at the end of the day you know I'm just going to be honest with you um you open very you can see what's what's happening we're going to have a really trustworthy relationship yeah I mean I think I'm the most trusted or a widely integrated guy you know in the across all kinds of front ends and like if you have a wallet app where you you want to serve all kinds of users they might have a wide range of tokens they're they're choosing to swap I have a good coverage across amm and rfu uh if they're you know swapping djen tokens you can come to me and uh yeah I think
the swap API is pretty much the mostly W widely adopted and trusted version yeah home girl this is not seeking Arrangements we are not trying to pair with our ideal match based on their balance and bags alone let's start to bring in the factors that matter right token coverage uptime these other traits of identity metadata capabilities that make our counterparties well SU right here so I think although I can be a little Saucy we can get into the identity of the parties in our Network and choose those that have the correct traits Beyond just the bags that they have nice nice great well well articulated a different weigh in for sure but okay this was really fun um we have 5 minutes left feelings checking do
you guys feel like you know a little bit more about intense than we start than when we started yes oh great do you do you um feel safe that or excited that most of these well intense in general whichever solution is going to be part of these experience that you're interacting with and hopefully giving you much better execution on your transactions yeah everybody's like um okay well I did want to leave some time for each of you to talk a little bit about what you're working on so we have a few minutes so ra do you want to start I know that you spoke to this a little bit at the beginning but I do think bringing it what you're working
on really brings to life some of the stuff so yes start with I've been well to relevant to this panel what I'm doing right now is I've been bootstrapping a product called unplug doio it's like plug- andplay it's a plug- andplay interface for an intent enabled framework that is doing a lot of the transaction scheduling and automation that we can talk about for different solutions but yeah um hey everyone so I lead D all at zorx since I keep talking about zorx in the ZX swag uh so at zerox what we do is we provide a suite of apis to help make Mak make swaps um easy for any application so it can embed swapping into say wallets portfolio managers on index rebalancer anything that you're using any point you're interacting with
web 3 you're going to make a swap and we provide swap swapping apis gases apis as well as trade analytics apis to help make that whole experience of integrating swaps um the best and provide the best pricing for you and your users yeah so I'm Denning and I'm a data scientist at flash Bots uh we're a meev focused research firm and we also build products to allow people to send their transaction privately into the mempo so it's actually very interesting in 10 problemin even though we're not directly intent protocol it's it when so like when users transaction goes to mle and they get sandwiched or me extracted it's when the intent goes wrong like like they have this intent and they had the result has looked differently uh so yeah
this question fascinates me and I provide data to help people to find solutions for it I used to work as Z yeah GM shifi my name is Evan I am chief strategy officer and co-founder at Privado ID we make it easy for you to prove a trait about yourself once such as where you live how old you are whether you're a person an agent an institution and reuse that data as many times as you want forever across chains across devices across Legacy databases um so this week one of the things that I'm getting asked about a lot we talked about a little here is Kya you may have heard of kyc know your customer Kya is now the meme that we're referring for know your agent what does it mean for a bot to introduce itself take me to your leader tell me where you came from and
what your capabilities are so whether you are an institution or an agent or an individual sitting in this room we make it really easy for you to not forfeit your uh your data to outside companies but rather to utilize it in benefit of your your financial transactions and moving through the metaverse with fewer forms and frustrations guys thank you so much this was so fun um please give it up for this incredible panel and for shei thank you