ParaSwap launches intent-based protocol to curb MEV attacks

Decentralized exchange aggregator ParaSwap is launching an intent-based trading protocol aimed at mitigating the problem of MEV attacks, which cause losses of millions of dollars in cryptocurrency trades every day. ParaSwap founder Mounir Benchemled said, "MEV has already caused billions of dollars in losses to users, resulting in a decline in user experience and a reduction in the efficiency of DeFi protocols." In early 2024, the ParaSwap team began researching an intent-based trading model to provide MEV protection. According to Benchemled, the protocol allows users to define their trading "intent" rather than exposing the original transaction to the memory pool. Benchemled believes, "The existence of MEV not only affects individual transactions, but also the overall fairness, accessibility, and decentralization of the DeFi ecosystem, making it one of the most urgent issues to be addressed." ParaSwap's Delta protocol aims to solve this problem by submitting expected trades in three steps. The process starts with preprocessing, where the user's intent (such as price range) is defined. This intent is then submitted to an auction where AI agents compete to propose the most effective execution strategy while considering factors such as liquidity and timing. The winning agent executes the trade through the Portikus Swap module, following the user's intent and minimizing MEV exploitation risks.