Symphony's Intent-Centric RFQ System
Below is an overview of Symphony’s intent-based architecture and how it leverages an RFQ (Request-for-Quote) system to enable efficient, flexible, and user-friendly cross-chain transactions.
What are Intents?
Intents are a signed set of declarative constraints created by a user that express their desired outcome for a transaction. This approach differs from how users typically interact with blockchain networks in which they must create transactions that specify the exact execution-path they would like a transaction to undergo. An intent essentially allows a user to specify ‘the outcome’ a transaction should lead to (i.e. its goal), rather than the ‘what’ each step of a transaction should be.
In intent-based architecture, specialized third-parties (often referred to as Solvers or Executors) review intents in an ‘Intent-Pool’. They then compete with each other to return optimized execution paths based on the user's intent. The optimized execution path can occur between different networks and protocols that the solvers/executors have access to.
Intents transform DeFi from an imperative model in which each step of a transaction must be specified by the user to a declarative model in which the user’s desired outcome is used to create optimized solutions.
Symphony's Intent-Based Architecture
What does “Intent-Based” Mean?
Instead of requiring users to manually specify every single step of a transaction (e.g., bridging tokens, choosing which DEX to use, selecting which chain to operate on), Symphony allows them to simply express their end goal, or intent.
This could be something like, “I want to swap 10 ETH for USDC at the best rate across any chain,” or, “Open a short position on a specific perpetual platform using my collateral on another chain.”
How It Works:
User Intent: The user (or an AI agent like Sympson) states a desired outcome, such as a swap, a cross-chain deposit, or a complex DeFi strategy.
Symphony’s Core Infrastructure (no pun intended): Symphony’s backend automatically identifies the best paths to fulfill this intent. That might involve utilizing users' collateral, selecting the highest-liquidity DEX, or choosing among multiple protocols for an optimal route.
Seamless Execution: The user no longer needs to complete complex steps, bridging, or chain-hopping. They simply confirm the final transaction details, and Symphony handles the rest.
Why It Matters:
Simplicity: By focusing on what the user wants to accomplish rather than on how to do it, Symphony reduces friction and lowers the barrier to participating in DeFi.
Efficiency: The system can automatically find the best routes, liquidity, and fees across multiple chains without manual intervention.
Scalability: As new chains and protocols emerge, Symphony’s intent-based architecture adapts without forcing users to learn new bridging methods or wallet configurations.
RFQ (Request-for-Quote) System
What is an RFQ System?
An RFQ (Request-for-Quote) system allows Symphony to fetch live “quotes” or “bids” from different market makers, liquidity providers, or solvers.
When a user (or AI agent) initiates a transaction with a specific intent, that request goes out to a network of participants who can fulfill it. They respond with their best possible price, route, or strategy, and Symphony selects the most competitive option.
How It Works with Symphony:
Intent Broadcasting: Once the user’s intent is submitted, Symphony effectively “broadcasts” a request for quotes to our distributed solver network.
Solver & Liquidity Provider Responses: Solvers or market makers—who may hold liquidity or have special routing algorithms—return quotes indicating the price, slippage, or fees they can offer.
Best Quote Selection: Symphony compares all the incoming quotes to find the one that best matches the user’s requirements (e.g., best price or lowest slippage).
Final Execution: After selecting the top quote, Symphony executes the transaction automatically, facilitating any necessary cross-chain steps.
Why It Matters:
Optimal Pricing: Because multiple solvers compete to fulfill the user’s intent, users benefit from more competitive rates and lower slippage.
Transparency: RFQ responses can be compared, ensuring the user sees or receives the best available quote at the time of execution.
Scalable & Modular: As new liquidity sources or market makers join the network, they can seamlessly integrate by providing quotes when users express their intent.
Putting It All Together
User Simplicity: A user (or AI agent) doesn’t need to know which chain has the best liquidity or how to bridge tokens. They only need to communicate the outcome they desire.
Automated Routing & Quotes: Symphony’s backend parses the user’s intent, broadcasts an RFQ, and gathers responses from various liquidity sources.
Fast, Trustworthy Execution: Symphony picks the best route or quote, then executes the transaction—often in under three seconds—finalizing everything behind the scenes.
Conclusion
This combination of intent-based architecture and an RFQ system allows Symphony to deliver a smooth, intuitive DeFi experience that’s both powerful (due to its cross-chain breadth) and user-friendly (thanks to its simplified approach).
It ensures users get the best possible pricing and execution speed without having to manually navigate the complexities of multi-chain DeFi.
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