DeFi Intents

Overview

DeFi intents in SyncAI are designed to simplify interactions in the DeFi ecosystem by encapsulating a user’s specific intent into a structured, off-chain message. These intents enable users to express their desired outcomes without delving into the complexities of smart contract execution or directly interacting with decentralized finance protocols.

Key Features of DeFi Intents:

1. Simplified Interaction: Users specify what they want to achieve (e.g., swap assets, provide liquidity), and SyncAI manages the transaction complexity, including counterparty discovery and execution.

2. Automated Execution: Once all complementary parts of an intent are identified, SyncAI executes the completion of the transaction, ensuring that all conditions are met before execution.

3. Voice and Messaging-Enabled Smart Contract Execution: Users can execute smart contracts through a voice call or text messages, leveraging SyncAI’s natural language processing capabilities to interpret and act on commands seamlessly across multiple platforms.

Examples of DeFi Intents:

• Asset Swaps:

  • Example Intent: "Swap 50 ADA for an equivalent value in USDM."

  • How It Works: The user specifies the amount of ADA they want to swap for USDM. SyncAI then identifies the best available liquidity pools or direct trading partners to fulfill the request. Once a suitable counterparty is found and all conditions are met (e.g., exchange rate, slippage tolerance), SyncAI facilitates the swap, executing the transaction on-chain.

{
  "intentType": "swap",
  "sourceAsset": "ADA",
  "targetAsset": "USDM",
  "amount": 50,
  "conditions": {
    "slippageTolerance": 0.5,
    "maxExchangeRate": 1.5
  }
}

• Yield Farming:

  • Example Intent: "Provide 200 ADA and 100 USDM as liquidity in the ADA/USDM pool."

  • How It Works: The user defines their intent to provide liquidity in a specific pool with a particular asset allocation. SyncAI identifies the relevant liquidity pool and executes the necessary transactions to add liquidity. The user receives liquidity provider tokens in return, which entitle them to a share of the pool's rewards.

{
  "intentType": "provideLiquidity",
  "liquidityPool": "ADA/USDM",
  "assets": [
    {
      "type": "ADA",
      "amount": 200
    },
    {
      "type": "USDM",
      "amount": 100
    }
  ]
}

• Lending and Borrowing:

  • Example Intent: "Lend 500 ADA for interest" or "Borrow 100 USDM using 500 ADA as collateral."

  • How It Works: For lending, the user specifies the amount of ADA they want to lend and SyncAI connects them with potential borrowers, handling the on-chain execution of the loan terms. For borrowing, SyncAI identifies potential lenders and manages the collateralization and loan execution process based on predefined conditions.

{
  "intentType": "lend",
  "asset": "ADA",
  "amount": 500,
  "interestRate": "variable"
}

• Staking:

  • Example Intent: "Stake 1000 ADA with a specific pool."

  • How It Works: The user defines the amount of ADA they wish to stake and the target staking pool. SyncAI then manages the staking process, ensuring that the ADA is delegated to the specified pool and the user starts earning rewards.

{
  "intentType": "stake",
  "stakingPool": "POOL_NAME",
  "asset": "ADA",
  "amount": 1000
}

By translating user desires into actionable intents, SyncAI makes it easier for users to navigate the complexities of DeFi, providing a streamlined and user-friendly experience.