NEAR Intents

NEAR Intents is a decentralized trading protocol developed on the NEAR blockchain that facilitates multichain spot trading through intent-based architecture. Rather than relying on centralized order books or custodial asset management, NEAR Intents enables users to express trade intentions that are fulfilled by market makers who provide liquidity.

The protocol is designed to serve as an infrastructure layer for decentralized finance applications—referred to as distribution channels—that onboard users interested in spot trading. These applications integrate with NEAR Intents to access a growing ecosystem of liquidity providers and intent settlement tools, eliminating the need for direct exchange interfaces or asset custody.

At the core of the system is a mechanism called Intent Settlement, which facilitates the execution of trades through a novel off-chain communication and on-chain validation process. When a user expresses an intent to trade, that intent is signed and routed via a Message Bus—an off-chain communication layer—to a network of participating market makers. These market makers respond with quotes and commit liquidity to execute the trade. Each distribution channel can operate its own Message Bus, maintaining autonomy while still participating in a shared settlement ecosystem.

On-chain verification is handled by a Verifier smart contract deployed on NEAR mainnet. This component verifies that each proposed trade intent reflects a valid and permissioned state change—described in terms of diffs—across involved wallets and token balances. The Verifier ensures that token deltas net out to zero across all changes before committing the transaction on-chain, thereby maintaining the integrity of trades and preventing unbalanced settlement outcomes.

To simplify adoption for applications, the protocol includes 1 Click, a swapping agent that abstracts the complexity of quoting and routing. This component enables distribution channels to offer token swaps with minimal integration effort, effectively turning any application into a decentralized trading interface backed by NEAR Intents.

As a protocol, NEAR Intents does not hold user funds or operate as a traditional exchange. Instead, it facilitates peer-to-peer settlement between intent creators and liquidity providers, making it suitable for integration across wallets, aggregators, and DeFi platforms. Key components of the system include: * Distribution Channels: Front-end applications with user bases interested in spot trading. * Market Makers: Entities that deposit liquidity and fulfill user intents. * Message Bus: A decentralized message-passing system for quotes and commitments. * Verifier: A smart contract validating on-chain settlement outcomes. * 1 Click: A simplified agent for integrating intent-based swaps into apps.

With its multichain design and focus on decentralization, NEAR Intents offers an alternative to centralized exchanges by enabling intent-based trading across diverse applications, while preserving user custody, transparency, and settlement finality.