TechFlow Insights
Essential focuses on building intent-based infrastructure and tools to address the issue of MEV (miner extractable value). Its core goal is to reduce the negative externalities caused by MEV, enabling users to achieve their intents at minimal cost. Essential plans to establish a network of solvers that capture user intents and compete to find optimal solutions, transforming profit-driven searchers into solvers dedicated to fulfilling users' best outcomes.
To achieve this goal, Essential is developing a suite of products:
A domain-specific language (DSL) for expressing intents: essentially a standardized intent language that makes it easier for solvers to understand and reason about user intents.
An intent-centric account abstraction standard for Ethereum and EVM: solvers require permission to perform on-chain operations, hence account abstraction is needed. The new standard will integrate ERC-4337, allowing solvers to be delegated the task of constructing valid transactions that satisfy intents.
A modular intent layer: designed to resolve the inevitable design compromises when aligning intent-centric architecture with underlying compatibility. Benefits include:
Simplified architecture: By embracing intent-only and abandoning the concept of transactions, solvers can focus purely on delivering solutions without needing to understand dependencies between intents and transactions;
Order flow aggregation: all orders are routed through the same solver network, ensuring transparency and leveraging multiple liquidity sources to optimize user outcomes;
MEV resistance: incentivizes solvers to return more value to users by rewarding those who deliver the best results;
Modular design: enables protocol deployment across multiple stacks and ecosystems, facilitating cross-chain intent execution.
