Intention: The Revolution Towards a New Phase of Web3

With the successive approval of BTC and ETH spot ETFs, the blockchain industry has entered a new stage of development. At the same time, both direct and indirect holders of blockchain assets have shown rapid growth. However, the actual number of users in the crypto space has not seen a corresponding increase.

Users still face high barriers when entering the application ecosystem of the crypto world. The circulation of users' assets, data, and tokens appears extremely fragmented under the constraints of various public chains and applications. This limits the explosive growth of users and prevents the full release of the potential of the Web3 industry.

Intention, as an emerging field, is a concept that promises to revolutionize the Web3 user experience and truly unleash the potential of Web3. This Bing Ventures research article will take dappOS as an example to explain and analyze this new direction.

Decoding Intention: A Paradigm Shift in the Blockchain World

In blockchain, intention represents the desired outcome of the user rather than the specific execution steps. For example, traditional transaction methods on Ethereum require users to specify every step of the transaction in detail, including interactions with smart contracts, random number management, and gas payments. This approach can be complex and inefficient. The introduction of intention aims to alleviate these burdens on users, allowing them to outsource the transaction creation process to third parties while maintaining control over the transaction process.

By abstracting the inherent technical complexities of blockchain transactions and focusing on user-defined goals, the intention model aims to make blockchain technology as simple and direct as traditional web browsing. The ultimate goal is to ensure that interactions with blockchain and dApps are as seamless as any traditional Web2 service, thereby promoting broader adoption of these technologies.

Essentially, an intention-centric model is not just a technological innovation; it is a philosophical re-examination of user empowerment and inclusivity in the blockchain space. By emphasizing the consistency of the Web3 experience with the usability familiar to Web2, it aims to eliminate entry barriers, laying the foundation for explosive growth in the number of Web3 users.

Technical Pillars and Implementation Pathways

The implementation of intention-centric systems allows users to clearly express their intentions for transactions and operations through declarations, without needing to determine specific execution steps. Through relevant mechanisms, users can delegate the execution of their intentions to the system, smart contracts, or third-party service providers. Whether executed automatically or manually, the execution process should align with the user's original intention and provide sufficient flexibility and optimization space when appropriate.

We will use the technical architecture of dappOS as an example to demonstrate the transaction mechanism of intention:

Source: dappOS Doc

1. Open Market Mechanism:

dappOS adopts an open market mechanism, where service providers need to stake collateral when providing intention task execution services.

Service providers register as service nodes by staking tokens and selecting all the services they are willing to offer. This mechanism ensures dynamic allocation of services and efficient utilization of resources.

2. Optimistic Minimum Staking (OMS) Mechanism

The OMS mechanism allows service providers to execute tasks first and then validate the results. This "execute first, validate later" approach significantly enhances the speed of task execution.

Each intention task has a specific value, meaning users agree to accept predefined compensation in case of task failure. Service providers only need to stake collateral slightly above the total value of the current intention task being executed.

3. Service Providers

Service providers are a core component of the dappOS intention execution network. To become a service node, registration is required. Registration involves staking a predetermined amount of tokens in the RegisterManager contract. The staked tokens serve as collateral, allowing nodes to undertake tasks, with the volume of tasks a service node can handle being proportional to the value of the staked collateral.

This flexible architecture of dappOS enables service providers to support various tasks with specific values. These tasks follow certain templates and include the following elements:

• Comprehensive Task Description: Outlines the end user's goals and the conditions for task completion.
• Completion Standards: Establishes standards for execution verification to validate task status.
• Required Collateral Amount: The collateral amount required for the service node to complete the task. Task arrangers assess the current collateral amount of each service node based on this information and exclude those with insufficient amounts.

1. Execution Validators

Execution validators play a key role in the network, responsible for verifying the execution of tasks. Once a task execution failure is detected, validators have the right to vote to penalize service nodes, ensuring user compensation.

Through the POS (Proof of Stake) network mechanism, validators stake tokens to maintain the security and integrity of the network. Active and diligent validators will receive rewards, incentivizing their continued participation and maintenance of the network.

5. Task Frameworks:

To facilitate pricing and verification of intention tasks, dappOS organizes tasks into different frameworks. Each framework can be custom-designed according to specific needs, including pricing, verification, and compensation mechanisms.

In summary, intention belongs to declarative constraints, allowing users to create and delegate transactions to a specialized network of third-party participants while retaining complete control over the process. Simply put, if a transaction specifies how to carry out an operation, intention clarifies what the expected outcome of an operation is. Through intention, users can easily express their desired outcomes. This stands in stark contrast to the current imperative transactions, where each parameter must be explicitly specified by the user.

Intention-Centric DAPP Interaction

Since the launch of the V2 Beta version of dappOS, it has integrated with over 15 DAPPs, including GMX, Stader, KyberSwap, Equilibia, BENQI, SyncSwap, and more.

GMX

The unified account feature of dappOS allows traders and liquidity providers to seamlessly access GMX based on Avalanche and Arbitrum from other chains without manually bridging assets. Benefiting from the solutions provided by dappOS V2, users can trade and purchase GLP or GM (the liquidity provider token for GMX) through an intention-centric user experience. The streamlined workflow optimizes execution time by 90% and reduces execution fees by up to 20%. Users can deploy their entire asset balance, regardless of distribution, using a single signature to confirm complex, interdependent transactions across different chains and pay fees with any token.

Stader

The unified account feature of dappOS allows users to directly manage their total asset balance, enabling them to confirm complex, interdependent transactions across different chains with a single signature, whether these transactions are sequential or parallel. With the support of dappOS, Stader users can stake ETH and receive ETHx, then deposit ETHx and ETH into the Curve pool to obtain LP tokens, and continue staking in Convex Finance to earn CRV and CVX rewards, all completed with a single click through 15 complex steps. dappOS supports using ETHx as gas fees and seamlessly operates in multi-chain applications. The rewards generated from staking and farming are collected by dappOS, allowing users to claim rewards from Curve and Convex without having to visit each platform separately, just with one click.

KyberSwap

The unified account feature of dappOS enables users to trade directly on different chains deployed by KyberSwap without manual bridging, enhancing asset composability. For example, Ethereum users can directly borrow assets from the Avalanche-based lending protocol BENQI and seamlessly use them on KyberSwap. Additionally, dappOS supports paying gas fees with any token and executing task-dependent operations with a single signature.

BENQI

The collaboration between BENQI and dappOS aims to enhance the DeFi user experience by integrating the Avalanche-based BENQI DeFi protocol with the user-friendly interface of dappOS. BENQI provides liquidity unlocking for assets such as BTC, ETH, AVAX, and stablecoins, while dappOS simplifies the typically complex Web3 operations, such as wallet setup and gas fee management. This collaboration enables users to seamlessly manage and utilize assets across multiple chains without manual bridging. By providing a single interface for cross-chain transactions and supporting gas fee payments with any token, dappOS significantly reduces operational steps, making DeFi more user-friendly and intuitive.

Equilibria

The unified account feature of dappOS allows users to seamlessly interact with high-yield pools deployed by Equilibria on Arbitrum without manually bridging assets. With the support of dappOS V2, users can seamlessly deposit aUSDC and rETH into pools from any chain, with an intention-centric user experience increasing yields to an annual percentage rate (APR) of 28%. Users can directly deposit ETH into the rETH pool without minting or purchasing rETH on decentralized exchanges. PENDLE rewards can be claimed and converted into mainstream tokens like USDT, USDC, ETH, and DAI with a single click. dappOS users can deploy their total asset balance, regardless of distribution, and confirm complex, interdependent transactions across chains with a single signature, using any token to pay fees.

Intention Assets: A Revolution in Crypto Asset Utilization

Intention assets are a new type of asset launched by dappOS. Intention assets provide high yields while also being available for on-chain use at any time.

Intention assets leverage the unique capabilities of the dappOS execution network to efficiently handle complex settlements in multiple scenarios, reducing complexity and operational burdens at the user level. When users utilize intention assets, they can provide either conventional assets or intention assets as input assets and outsource the settlement tasks to service providers, expecting specific execution results, such as earning yields, completing interactions with DAPPs, or withdrawing assets to centralized exchanges. The conversions and management required before achieving the desired outcomes will be handled by service providers within the network, ensuring users are free from these complexities.

The first intention assets include intentBTC, intentETH, and intentUSD. For example, by holding intentUSD, users can earn USDT yields while retaining complete flexibility. They can withdraw in real-time as USDT on exchanges or immediately use it as USDC to supplement margin on Arbitrum GMX. Using these assets incurs no additional losses aside from gas fees.

Ecological Synergy: The Ripple Effect of Intention-Centric Architecture

The collaboration between dappOS and the five protocols mentioned above demonstrates the expected benefits that an intention-centric system can bring to DAPPs.

1. Unified Account Management: The unified account feature of dappOS allows users to directly manage their total asset balance, making it universally applicable across any dApp on different chains. This centralized management greatly simplifies asset management and enhances asset liquidity and utilization efficiency.
2. Seamless Cross-Chain Operations: Whether collaborating with GMX, Stader, KyberSwap, BENQI, or Equilibria, dappOS enables users to operate directly across different chains without manually bridging assets through its seamless cross-chain functionality. This seamless experience reduces operational steps, saving time and costs.
3. Simplified Complex Operations: dappOS allows users to confirm complex, interdependent transactions across chains with a single signature, regardless of whether these transactions are sequential or parallel. This feature significantly enhances the security and efficiency of transactions, reducing the operational burden on users.
4. Flexible Fee Payments: Users can pay gas fees with any token, eliminating the need to hold specific tokens on specific chains. This flexibility enhances operational convenience, allowing users to conduct cross-chain operations more freely.
5. Reward Management and Conversion: dappOS enables users to claim rewards generated from staking and liquidity mining with a single click and convert them into mainstream tokens like USDT, USDC, ETH, and DAI. This functionality simplifies the reward management process, improving operational convenience and efficiency.

The intention-based system is quietly igniting a revolution. This new concept is not just a tool for simplifying user operations; it is a catalyst that is reshaping the interaction and value flow patterns of the entire Web3 ecosystem. We believe that the ripple effect of intention systems, represented by dappOS, will manifest across several key dimensions:

1. New Frontier of Financial Innovation

Intention systems and intention assets are opening up new frontiers for financial innovation. Imagine a derivatives market based on user intentions: traders could speculate or hedge on intentions like "users will transfer over $1 million in assets across chains within the next 30 days." This not only provides investors with new risk management tools but could also give rise to an entirely new ecosystem of prediction markets.

2. New Engine for the Data Economy

Intention data is becoming one of the most valuable assets in the Web3 world. By deeply analyzing user intention data, we can gain insights into market sentiment, predict capital flows, and even identify emerging DeFi trends. These insights hold immeasurable strategic value for DeFi protocols, DEXs, and CEXs.

3. Super Glue for Cross-Chain Ecosystems

Intention architecture and intention assets will become key links connecting different blockchains. Through standardized intention protocols, users can seamlessly execute complex cross-chain operations without worrying about the underlying technical details. This not only improves capital efficiency but also paves the way for true cross-chain DeFi applications. We anticipate that the volume of cross-chain transactions processed through intention protocols will dominate the total cross-chain transaction volume.

Conclusion

Intention is still a concept full of potential that is in its very early stages. Building an intention layer for a fully intention-centric world faces significant challenges, and the current obstacles go beyond just system complexity. As the underlying blockchain technology evolves and various projects mature, future development will shift from infrastructure-focused to application and user-friendly approaches, with intention-centric projects becoming a focal point for the entire industry's growth.

The key lies in the network effects of the intention architecture: as the number of DeFi protocols accessing the intention network increases, the improvement in user experience will be exponential. Our model predicts that when the number of accessing protocols reaches a critical mass (expected to be 50-100 mainstream DeFi protocols), the user growth rate will experience a significant inflection point. Based on current growth trends, we expect this inflection point to occur around the third quarter of 2025. More importantly, intention assets are creating a new layer of value: the intention data layer. This layer not only connects different blockchains but also deeply integrates on-chain and off-chain data. This will provide significant alpha opportunities for market makers, traders, and DeFi protocols.

From a technical perspective, AI-driven intention parsing and execution represent the next breakthrough. We anticipate that by the next bull market, simple cross-chain operations will largely be automated by AI systems, significantly reducing user operational difficulties and transaction costs. This will not only boost the activity of existing crypto users but also attract a large number of Web2 users into the Web3 world.

Overall, intention assets represent the next evolutionary stage of Web3. They not only simplify the user experience but, more importantly, are creating a new value capture model. For investors, early positioning in the intention asset ecosystem will be key to capturing this enormous opportunity. We strongly recommend closely monitoring developments in this field, especially those projects that are leading in cross-chain operations, AI-driven execution, and intention data analysis.