
Here is the detailed look into each step of the process.
Creating an intent
Request quote
The user starts the process by requesting a quote for a desired swap. The quote contains details like the input asset, output asset, chains involved, and the desired amounts.
Accept quote
The user receives the quote and must accept it by creating a signed intent message.
Create intent
This signed intent represents the user’s objective, including parameters like assets, chains, amounts, and expiration details.
Selection of solver in the order book
Once the user signs the intent, it is submitted to the order book, a decentralized system where solvers compete to fulfill the intent.Auction process:
Breaking draws
Solvers with a higher staker score than the solver with the best quote have a 5-second window to match the quote.
- No acceptance: The best-quote solver wins.
- One acceptance: The accepting solver wins.
- Multiple acceptances: The solver with the highest staker score wins.
Settlement: User-side execution
User initiation
The user must initiate settlement by creating a signed transaction message for the intent.
Relayer broadcast
The signed message is submitted to a relayer, which broadcasts it on the blockchain.
On-chain processing
The transaction is processed on-chain, and the user’s funds are locked or transferred to the relevant contract or wallet.
Settlement: Solver-side execution
Receive confirmation
The solver, upon receiving confirmation of the user-side transaction, initiates the corresponding transaction on their end.
Execute on destination
This step involves the solver locking funds on the destination chain, earmarked for the user.