DeFi Intents

Overview

SyncAI introduces DeFi intents to simplify interactions in the DeFi ecosystem. These intents encapsulate a user’s specific action into a structured, off-chain message. A core feature of these intents is the use of intelligent action buttons, which are automatically generated when users receive notifications through the Sync Mobile app. These buttons allow users to take immediate actions (e.g., approve swaps, provide liquidity, or stake assets) without needing to interact directly with complex smart contracts.

DeFi intents enable users to express their desired outcomes without delving into the complexities of decentralized finance protocols or smart contract execution.

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Key Features of DeFi Intents:

• Simplified Interaction: Users specify what they want to achieve (e.g., swap assets, provide liquidity), and SyncAI manages the transaction complexity, including counterparty discovery, execution, and providing intelligent action buttons for users to approve or trigger actions based on pre-defined conditions like price alerts, time-based triggers, or specific events.

• Automated Execution with Triggers: SyncAI automatically completes transactions when specified conditions are met. Whether triggered by price changes, time-based events, or specific alerts, the system ensures seamless execution of the user's intent. Action buttons make it easy for users to approve the execution when the right trigger is activated. Detailed transaction summaries are provided, giving users clear insights into actions taken, conditions met, and outcomes achieved—keeping every step transparent and easy to understand.

• 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.

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Examples of DeFi Intents:

• Asset Swaps (Price Trigger):

  • Example Intent: "Swap 50 ADA for an equivalent value in USDM when ADA reaches 2 USD."

  • How It Works: The user specifies that they want to swap 50 ADA for USDM, but only when ADA reaches a price of 2 USD. SyncAI monitors the market price of ADA and triggers an alert when the price condition is met. The user receives a notification on their Sync Mobile app with an intelligent action button to confirm the swap. Once the user clicks the button, SyncAI facilitates the swap, executing the transaction on-chain.

  {
    "intentType": "swap",
    "sourceAsset": "ADA",
    "targetAsset": "USDM",
    "amount": 50,
    "conditions": {
      "priceTrigger": {
        "asset": "ADA",
        "targetTriggerPrice": 2.0
      },
      "slippageTolerance": 0.5
    }
  }

• Yield Farming (Time-Based Trigger):

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

  • How It Works: The user specifies their intent to provide liquidity on a regular basis (e.g., monthly). SyncAI tracks the time interval and, when the specified date approaches, it sends a notification with an intelligent action button allowing the user to approve the liquidity provision. Once approved, SyncAI identifies the relevant liquidity pool and executes the necessary transactions to add liquidity.

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

• Lending and Borrowing (Alert-Based Trigger):

  • Example Intent: "Lend 500 ADA for interest when lending rates reach 7% or more."

  • How It Works: The user specifies they want to lend 500 ADA, but only if the interest rate reaches 7% or higher. SyncAI monitors lending platforms and triggers an alert when the specified rate is available. The user receives a notification with an intelligent action button to approve the loan. Once approved, SyncAI handles the on-chain execution of the loan terms.

  {
    "intentType": "lend",
    "asset": "ADA",
    "amount": 500,
    "conditions": {
      "interestRateTrigger": 7.0
    }
  }

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By integrating intelligent action buttons and enabling various triggers such as price changes, time-based events, or alerts, SyncAI makes it easier for users to navigate the complexities of DeFi. Users are empowered to automate their DeFi interactions while maintaining control over key decisions, ensuring they can act at the right time with minimal effort. SyncAI's intent-driven model enhances user experience and simplifies participation in the DeFi ecosystem.