MetaMask will launch intent transactions to improve user experience

MetaMask will introduce the intent transaction function to improve the efficiency and accuracy of transactions. This feature allows users to clearly express their intentions when sending transactions, thereby providing users with a more convenient and intelligent trading experience. This will also further promote the development and application of Web3 technology.

According to an investigation by CoinDesk specialists, MetaMask is planning to bring intent trading functionality to Smart Swap. In the future, users will be able to use the built-in transaction function directly in the MetaMask wallet to submit intended transactions. It is expected that this feature will be rolled out within a few months.

MetaMask will introduce intent trading functionality

MetaMask is rumored to be testing a new technology that combines intent-driven design with in-wallet token trading functionality to provide simpler transactions experience. The new feature leverages third-party transaction routing systems to enable users to trade more easily. This will make MetaMask the leader in the Web3 wallet space.

Consensys acquires routing technology company

The routing technology was developed by the blockchain technology company Special Mechanism Group (SMG), which was acquired by Consensys last year. We are now trying to integrate it into the existing token exchange function - Smart Swap.

Redesign the Smart Swap function

MetaMask’s built-in token exchange function Swap is originally designed to provide users with a way to compare prices on authorized decentralized exchanges on the chain through aggregate transactions. Provides a cheap and safe transaction path.

The default supports Smart Swap function, which improves the success rate and privacy of user transactions by adding additional metadata to transaction information, while reducing transaction fees and MEV losses, and optimizing user token trading experience. Users can turn off this function by themselves and operate according to personal needs.

Metamask Swap function setting page

If a new path developed by SMG is introduced in the future, Smart Swap will be able to accept transactions provided by third-party operators Path also means that it can accept users’ more diverse and customized intention-oriented transaction needs. Compared with the original design, users will be able to enter order information more freely.

Does not use private liquidity

Consensys stated that the team deliberately designed the new routing mechanism to avoid certain risks, and that SMG’s technology is different from other intention-oriented design projects and involves a similar auction system. optimization methods and may not use private liquidity pools.

The transaction router design will be completely permissionless, and in theory anyone can participate in the order flow auction.

It may be open source in the future

The Consensys team stated that SMG’s intent-oriented transaction technology may be open sourced to other protocols. However, there are still many variables at this stage, but Consensys is inclined to create an open source ecosystem.

MetaMask promotes industry development

MetaMask is the leader in wallets. This update will set a precedent for other wallet vendors and bring healthy competition, prompting them to rethink the design of crypto wallets. MetaMask will take the lead in Pushing intention-driven design into the mainstream will help accelerate the growth of the industry.

Consensys said the plan will be integrated within the next few months.

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