{ Protocol
Intents
A signed tuple, not a swap transaction.
An intent is a signed tuple, not a transaction. The book stores the want. The chain only sees a fill.
The tuple
I = (s, ain, aout, qin, qmin, τ, σ)
| s | Signer. EOA or Circle Agent Wallet. |
|---|---|
| a_in, a_out | Token in, token out. Quote leg is USDC. |
| q_in | Maximum amount the signer will spend. |
| q_min | Minimum amount the signer will accept. |
| τ | Expiry. Block time after which the want is void. |
| σ | EIP-712 signature over the typed intent. |
Feasible fill
A fill F = (q′in, q′out) is feasible for I when all of these hold:
q′in ≤ qin ∧ q′out ≥ qmin ·q′inqin ∧ t ≤ τ
Limit price implied by the want
plim =qminqin
Solvers may improve on p_lim. They may not miss it. Improvement is surplus, and surplus is split.