NEAR Intents: A Guide for Users and Developers

a DEX using NEAR-Intents – simply swap BTC to Dogecoin in a few clicks! Powered by NEAR!

Why You Need NEAR Intents

First, let’s start with a simple question: why should you care about NEAR Intents?

Have you ever tried swapping BTC to Doge, or Ethereum to NEAR using a DEX?

The typical steps look like this for ETH to NEAR:

1. Prepare $ETH in your wallet.
2. Bridge ETH to NEAR (don’t forget to save some ETH for the bridge fee).
3. Ensure you have NEAR as a gas token.
4. Swap ETH to NEAR.

Seems complex, right? It still works, but takes a lot of times and efforts.
So what if you want to exchange Bitcoin <> Dogecoin, Doge <> XRP, or Ethereum <> Dogecoin? These chains have no DEX and the only option? Centralized exchanges like Binance or Coinbase.

NEAR Intents solves all of this!

With NEAR Intents, you can:

• Deposit tokens from any wallet.
• Swap to any token on any chain.
• Simply sign to swap—no need for a gas token (saving time and money).
• Withdraw to any wallet on the native chain with just a signature.

For example, you can swap $BTC on the Bitcoin network to $NEAR in under 30 seconds!

NEAR Intents works like a CEX but is decentralized like a DEX—easy to use, cheaper, faster, and permissionless, all powered by the NEAR blockchain!

Slick, right? Think of it as a Coinbase-like experience but decentralized and ultra-smooth!

There are interesting applications leveraging NEAR-Intents you can try right now:

• NEAR Intents DEX
• Solswap for Solana users
• Dogecoin Swap: the first DEX for Dogecoin
• Turbo Swap

🤖📈 INTEAR – A Telegram trading bot powered by NEAR Intents:
https://x.com/intelnear/status/1869461097646104620

🧠 Bitte Wallet – AI Wallets
https://x.com/BitteProtocol/status/1868682419785605630

Happy using! Now you’re curious about how all this works. Let’s dig deeper! 🤓
https://x.com/i/status/1855475653283594591

One token, any chain.

All liquidity, one chain.

NEAR Intents is launching as part of the NEAR Tech Stack.

True crosschain DeFi is here, and it’s powered by NEAR 🧵 pic.twitter.com/qB5HqiS9QG

— NEAR Protocol (@NEARProtocol) November 10, 2024

“NEAR Intents are a new type of transaction that allows information, requests, assets, and actions to be exchanged between AI agents, services, and end users.”

In simpler terms, NEAR Intents let you describe what you want to achieve without worrying about how to do it. Instead, a decentralized network of solvers (AI agents, web2 and web3 services, etc.) does the work for you in an open, secure, and decentralized manner, powered by the NEAR blockchain.

The earlier demo you saw, It’s just an interface showcasing the power of NEAR Intents. But the potential use cases are vast. For example, with Bitte Wallet, you can instruct AI to handle swaps, staking, or even finding the best validators for you.

How Does NEAR Intents Work?

Here’s a simplified overview of how NEAR Intents work:

1. User Defines an Intent: You want to swap 10 ETH for USDC and ask, “How much USDC can I get for 10 ETH?”
2. Solver Bus Queries: The Solver Bus sends your request to multiple solvers to find the best USDC offer for 10 ETH.
3. Solver Responses: Solvers calculate their offers (e.g., Solver 1: 40,100 USDC; Solver 2: 40,000 USDC) by sourcing liquidity from anywhere.
4. Best Offer Selected: The Solver Bus picks the best quote (40,100 USDC) and informs you.
5. User Approval: You approve the swap by signing a message on your wallet—no need for a costly transaction, save a lot of money on expensive chains like Ethereum or Bitcoin.
6. Swap Execution: The Solver Bus sends your signed data to a verifier contract, which executes the swap on-chain.

This ensures users get the best rates securely and efficiently, with the price you got quoted is the exact the price you get.

Beyond crypto assets, upcoming updates will enable exchanging web2 services like Netflix subscriptions, tickets, online payments, or fiat on/off-ramps. As long as there’s a solver ready to fulfill your intent, the possibilities are endless!
A Solver could be an exchange, an AI agent that willing to process your order!

I highly recommend watching Alex Shevchenko’s talk on Intents Layer at [REDACTED] 2024 to learn more.

NEAR Intents: Key Advantages

NEAR Intents, a core part of NEAR’s Chain Abstraction stack, offers numerous benefits:

• Bring smart contract functionality to supports all chains: including non-smart contract chains like Bitcoin, XRP, Doge… , users of these chains can finally using DeFi with DEXs, Lendings…!
• Instant support for new chains without manual integration: NEAR-Intents can already work with all EVM chains instead of have to wait for team to manual integration for each new EVM chains because they have the exactly same infrastructure.
• AI-Driven Execution: A network of solvers, including AI agents, analyze your intent and execute it in the most efficient way possible. This means you benefit from the best liquidity sources, whether on-chain, off-chain, from centralized exchanges (CEXs), or decentralized ones (DEXs), all optimized for speed and cost.
• Unified Liquidity: NEAR Intents bring AI participants together with financial services, commerce, and end users, unifying liquidity across different platforms.
• New Possibilities and Use Cases: By combining any intent type with AI agents, you can explore new primitives and reimagine trading, auctions, tokens, and more.
• Secure Handling of Assets: Transfer, stake, and manage a wide range of assets, including NFTs, FTs, SBTs, and non-transferable assets, with security and compliance in mind.
• Open and Permissionless: The decentralized, cross-chain infrastructure allows you to build or launch new financial products easily.
• Reliable and Fast Experience: Cross-chain settlement between agents and users happens in seconds, ensuring a smooth experience.
• Combined Liquidity: Bridging the gap between DEXs across chains, CEXs, and even outside crypto ensures participation and innovation from various stakeholders

“Intents are a universal interface for global commerce, enabling DeFi, TradFi transitions, and more. Think of them as cryptographically settled multi-party legal contracts.” – Illia Polosukhin, NEAR Co-Founder

Integration with NEAR-intents

NEAR Intents simplifies blockchain development, enabling seamless cross-chain functionality and AI-powered solutions. Whether you’re building DeFi apps, cross-chain wallets, or innovative services, NEAR Intents provides the tools to make it happen!

Resources for Developers:

• NEAR-Intents homepage: https://near.org/intents
• Docs, APIs and the SDK: https://docs.near-intents.org/
• NEAR dev group: https://t.me/neardev
• NEAR Intents group: https://t.me/near_intents
• NEAR docs: https://docs.near.org/
• [REDACTED] 2024 | Alex Shevchenko – Intents layer
• [REDACTED] 2024 | Omnibridge: How it Actually Works

Dive in and start building today!

In closing

NEAR Intents is changing the game by making blockchain interactions smoother, faster, and smarter. No more jumping through hoops to swap tokens or manage assets—everything is just a few clicks away, without the hassle of gas fees or complex setups.

With AI-driven solvers, unified liquidity, and cross-chain support for even non-smart-contract chains like Bitcoin and Doge, NEAR Intents unlocks endless possibilities. From swapping tokens in seconds to using DeFi for any chain, it’s fast, secure, decentralized, and insanely easy to use.

Think of it as a Coinbase-like experience but decentralized, cost-effective, and permissionless. It’s time to experience blockchain the way it was meant to be—effortless and magical.

For developers, NEAR Intents simplifies building decentralized applications by handling cross-chain complexity, enabling you to focus on what matters most— your apps. You can integrate NEAR Intents into your projects to unlock new opportunities and offer seamless, secure experiences for users.

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