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DapDap x NEAR: Seamless Crosschain Transactions with Bintent Express
Recorded: April 8, 2025 Duration: 1:00:00Space Recording
Short Summary
DapDap's integration with Nier's cross-chain intent protocol marks a significant project launch aimed at enhancing user experience in DeFi. The rebranding of RIA Finance and the introduction of innovative technologies like Chain Signatures are set to streamline cross-chain transactions, reflecting a growing trend in the crypto space.
Full Transcription
Thank you. Hello, hello.
Can you hear me? Jim?
Please confirm if my audio is working.
Awesome.
Awesome, awesome. Awesome, awesome.
Let's just give it a few more minutes while we wait for our partners and other hosts to come in. Okay. Hey, Annie, how are you?
Hi, Nick.
Okay, how are you?
I'm good as well.
Awesome.
I think we're just waiting on MeteorWallet.
Kendall will as well.
And BlackDragon, I'm not sure if you want to come up to the stage.
Oh yeah, awesome.
Awesome.
I think we have everyone here except Kendall at the moment.
We can go ahead and maybe do a round of introductions to begin with.
So first, hey everyone, this is Nick from DappDapp, I lead BD at DapDap.
And today we'll be talking about our integration with Nier's cross-chain intent protocol,
powering this Baruchain intent product that we have live on Baritown.
Everything that we're doing at DapDap and at Baritown is looking to provide a more seamless user experience.
We are aggregating protocols specifically on the front-end side of things such that you can
navigate multiple protocols within a singular UI and platform, reducing fragmentation and solving
and solving a lot of these barriers to entry
a lot of these barriers to entry when it comes to exploring new ecosystems or new products.
when it comes to exploring new ecosystems or new products.
And we're really, really excited to have this protocol
powered by NIR to be integrated with us
because it not only provides you
with a more optimized cross-chain swapping experience,
but it beats most other bridges as well.
So without further ado,
I'm happy to hand over the mic to Meteor
Wallet, Black Dragon, or Annie to begin with. Please introduce yourself and introduce, you know,
the protocol or project you work for.
I'll go.
I'll go.
So, yeah, appreciate you having us here representing Black Dragon, top meme coin on Nier, but really
our focus is activating as the social and community layer and telling the story of Nier.
So we're working on some pretty cool things to help manage some communities on the product side
and also build out some of the content
for some of the larger Nier narratives.
So I appreciate you again having us.
Awesome, thanks.
Hi everyone. It's Mike behind Meteor Wallet.
I'm leading marketing for Meteor.
Pleasure to be here.
Thanks Nick for hosting from DevDev.
Yeah, that's pretty much the intro. Hello everyone, I'm Annie, Marketing League of Real Finance, our premier
Red Finance and Borrowed Finance. And I really thank you for have me here today with the dab dab and near protocol and our other partners
awesome thank you guys for um the introductions um i do wanna i do wanna wait a few more minutes before Kendall joins. But for now, let's take a view from what's happened so far
with integration. And I think we want to keep this conversation more product focused,
highlighting the technical and efficiency advantages of near intense. And so overall,
I think high level for everyone in the audience,
we're essentially eliminating gas fees with this integration.
And so you can go directly to Baratown at the moment
and click on the Bintent feature and protocol
to be able to cross-chain swap from a variety of different networks
into a variety of different assets.
And so we're providing currently the fastest cross-chain UX, a variety of different networks into a variety of different assets.
And so we're providing currently the fastest cross-chain UX,
beating other partners and other protocols out there,
given that Nier has been working on this for quite some time.
Now, before Kendall gets on,
I'm happy to give maybe Annie a bit more time, given that you guys have recently transitioned from the brand being Ref to Rhea.
Maybe talk a little bit more about that.
And if Meteor or Black Dragon has anything else to share, you guys can also give an update to the community.
So please take it away, Annie.
Yeah, thanks, Nick.
So yeah, we have recently gone through a major rebrand,
merging top decks with Redfinance and their landing protocol
borrow into one unified platform called RIA Finance.
And this isn't just a pre-brand.
It's our strategic move meant to lay the technical foundation for the next wave of defined innovation
on NIR.
So RIA is being built as a change abstracted liquidity solution where users can access lending trading and
liquidity seamlessly of course near bitcoin and evm ecosystem by focusing on deep integrating
and abstracting away the complexity of bridging and gas fee. We we now streaming like the cost train experience to make it faster
and more cost efficient.
Like we like, for example, we supported by Satoshi Ram for Bitcoin
onboarding and a led user can access with only
with only single BTC wallet and actively
working with partners to enhance our aggregator bridge and cross chain tollings. So in short, we want to build a unified
platform to enable users to move assets, land, and transactions across
chains really simply in really seems like it's experienced.
Awesome. Yeah, thanks for sharing. I'm really, really excited to see this transition and
Really, really excited to see this transition and excited to hear what happens next.
Yeah.
Awesome.
Now, I know Kendall has just joined.
Kendall, if you can, on my screen, it's a bit laggy saying that you've requested to speak.
I'm not sure if you have the ability to speak yet.
If you do, put a thumbs up or just say hello.
Awesome.
Okay.
Here you are.
Hey, Kendall.
How are you?
I think I just got at it.
Nice timing.
Awesome.
Sorry, what was the question?
Nothing yet.
Why don't you give a brief introduction about yourself and Proximity Labs.
And then we want to keep this conversation more product focused.
So I would love if you could go in and sort of highlight the technical aspects of Near Intense.
And then I know we can carry the conversation from there.
But just a brief intro.
Yeah.
Yeah, sure.
Hey, everyone.
My name is Kendall.
Yeah, as mentioned, I founded a company called Proximity Labs that contributes in a few different ways to the Near Eek system.
We're mainly focused on taking new products to market
and helping support the teams, including all of the ones here that help build with it. ways to the near ecosystem we're mainly focused on taking new products to market and like helping
support the teams including all of the ones here that help build with it so uh yeah near intense
is definitely one of the ones we're i think extremely excited about and you know have been
for some time because it really unlocks i think a lot of new routes for users on pretty much every
blockchain um so as you probably anyone who's used
BinTense has seen, it makes it really, really easy to swap from chains, even like Bitcoin or
Dogecoin or XRP that are pretty underutilized compared to the rest of the broader crypto
ecosystem to swap into Baruchain or swap into other chains. And one of the core pieces about
how that works is this tech called Chain
Signatures, which is basically a way for smart contracts on Nier to sign transactions for
any blockchain. And that's a core piece of the tech stack that has unlocked a product like
Nier Intense, because this means that basically you can have a user with assets on Bitcoin and
a user with assets on Baruchain.
And both of those assets can be temporarily locked while the trade between the two happens. And then both of those users can then withdraw to their respective, basically from the exchange account to their respective accounts on those different chains.
on those different chains.
So yeah, we're extremely excited about it.
Bintense has been one of the first,
or Barrettown by DaptApp
has been one of the first implementers of it
and one of the ones I'm extremely excited about.
Yeah, and I think it's only getting started,
so excited to see where it goes
and all the different teams they build using it.
Likewise, I'm super excited to see as more teams adopt
the protocol and embed that into their products.
I think it's fantastic because I think a lot of users
and a lot of people that navigate on-chain dApps
are traditionally just more used to bridging.
And frankly, like cross-chain swapping is a bit ironic because most people swap,
obviously, as they use on-chain products. And this adds a level of user friendliness and a
better UX when it comes to navigating assets and improving asset velocity across different chains.
across different chains. Could you go into how, you know, intense abstract gas fees and streamlines,
you know, cross-chain transactions versus traditional bridging? Just to paint a picture
for people that, you know, are more used to bridging versus using a cross-chain swap your protocol.
Yeah, sure thing. So typically, the biggest difference is going to be that instead of,
well, usually when you're bridging, you start with one asset.
Let's say in this case, it's Ethereum, it's ETH.
If you're going to bridge to bear chain,
I'm probably using Stargate and you're going to get basically a wrapped version,
basically like a kind of representation of the fact
that you have ETH on Ethereum
that you've now locked into a smart contract on Ethereum.
And that locking action will then be kind of transmitted
in some way or passed to Baruchain
through a variety of different mechanisms.
And then you'll be able to take that representation of Ethereum and do things.
And you could potentially trade that to someone.
And then obviously they can go and they can kind of unwrap it.
Whereas with a swap, in a lot of ways, I would say it's actually just a lot simpler
in the sense that all of this kind of wrapping and message passing and all of that doesn't
actually have to happen.
The only thing that has to happen is basically that control,
because in this case, you'll go from, say, Ethereum to Bera.
And the only thing that actually has to happen is that the control of your ETH
as the person who's holding ETH and the control of the other user's Bera
as the person who's going to sell you that Bera, that control just needs to swap.
But that control swap actually just needs to happen on the
ethereum side it happens on ethereum on the baritone side it happens on like it happens with
with the barra um and so yeah i mean basically you the way that that control swap is is managed is
is what that's what near intense is doing is near intense is basically taking temporary control of
uh your eth and um and the other users bar, via a near smart contract, so it still
remains non-custodial. And then it's basically executing on that swap. And the way it does that
is it basically just changes who controls the asset on each respective chain. And so in a lot
of ways, it should be faster because the cool thing is you don't have to worry as like you don't have to worry as
much about the differences between the two blockchains all you're worrying about is is
changing the the control of the respective assets um and that actually like the way that control
swap actually happens is on near and so you you actually uh one of the things we tell people
that's really interesting about this is that you can settle the trade
between two users on two chains
with different block times at near block time.
And this gets most pronounced,
I don't know what Barrett chain's block time is,
it's probably, I'm just saying like a sec,
one to three seconds.
But if you're going from Bitcoin
where the block time is 10 minutes,
that's obviously pretty substantial.
So rather than having to wait
for the 10 minute finality,
you're actually only waiting for the near finality,
which will soon be under a second.
So yeah, it basically is just going to be a bit simpler, a bit faster, or even a lot faster.
And rather than having to bridge and then go swap for Barra somewhere, you're just going to get Barra immediately.
And so you mentioned gas fees as well.
I think there's a few ways that that can be managed, but I think the cleanest is, especially if you're swapping from ETH to Bera,
you're obviously already going to have the asset you need to pay gas fees in,
so you don't even have to do anything at all.
But, you know, it's also very possible to bundle swaps together,
and so you can just as easily swap from USDC on Ethereum to maybe USDT on Bera,
and then also swap for a little bit of the Bera token so that you can easily go and execute a trade.
And users do not pay any gas fees directly on Near Intense itself.
All of that is abstracted away.
And so this is how you can, once you've deposited assets into Near Intense, you can, or in
Bintense in this case, you can execute as many trades as you want between as many different assets on different chains
as you want without having to think at all about anything other than are you getting
the price that you are after and the conversion fee that you're looking for.
So bullish.
Yeah, I'm super excited for us to finally reach a state where there are truly some chain abstracted products available.
So thank you guys for pushing that.
Speaking of price, I do want to highlight the second pinned post in the space.
between other competitors in the space, Shogun and Universal X, moving assets from Solana,
Bitcoin, Ethereum to Bera. And you can see that at a variety of different price points or the
amount of assets in terms of volume you're looking to transfer, we beat or near intense beats, you know, these competitors at every single price point from every single chain.
And I think that's really, really important to highlight.
And that's because of, I guess, the solvers that you guys are using, Slash to Liquidity, that's available.
that's available. Maybe can you go into that aspect of how solvers play that role of
operating the cross-shade intent protocol, and perhaps what a solver is as well,
for those in the audience? Yeah, great question. So, I mean, mean yeah there's basically two major components to
intents uh one is the intent itself and like to unpack that that's basically a user intent
to do something and you know in this case we're talking to swaps so it makes it even easier it
you can give a lot like almost a limit order you're just like i have one if i want to buy
how many bear would that be like i don't know, 80 barra, let's say that, 80 barra tokens.
That's basically a limit order.
And they go and propose that, hey, I want to do at least this.
And then, well, that's one way it can work, is limit.
There are potentially two different order types,
just like an order
book that you should be able to use. So they could say that. And then the solver is basically
going to be whoever's going to take the other side of that trade. So right now, there are,
I believe, two solvers that are live on Near Intense. And either of the solvers could see
that limit order and say, cool, that's an acceptable price for me. I'm going to go ahead and I'm going to basically agree
to swap that ADBAR for that 1 ETH.
So that's one way that solvers can interact
with these user intents.
And the other would be, like you say,
I just want to buy as much BARA as I can get
for this 1 ETH.
And in that case, you'll have potentially,
I mean, especially if you have a multi-solver system,
you could have a few different people
who are going to offer to take that order from you
who are going to put up whatever price
they're basically willing to quote there.
So, I mean, in a lot of ways,
a solver is more or less a market maker.
They don't necessarily have to be,
although I think in practice,
that's what we've seen across
even other intent protocols
is that solvers tend to be
pretty sophisticated operations.
And the reason for that is that,
so on near intents, for instance,
there's quite a few tokens
across different chains that are available.
And so in order to create that liquidity
and that good trading experience for users,
these solvers actually have to maintain,
right now they have to actually maintain balances
of these assets on a few different chains
that are available within the near-intense protocol.
And so that's actually one of the big, I think,
challenges that us and other intense protocols,
when anyone says to me, the near-intense team,
are working through, which is like, how do you ideally make this more capital efficient and also
a better experience for market makers? So there's actually quite a few, like if you look at the
near intense roadmap, there's actually most of the upcoming things. It's basically either, you
know, improve the UX even more or improve liquidity. And the way to improve liquidity is actually by
improving the solver experience
and making it even easier and more capital efficient
for these solvers to provide these price quotes
and provide the best quotes that they can.
But yeah, backing up and doing the TLDR,
basically solvers are effectively liquidity providers.
The big difference from being an LP
on something like an AMM
is that they have to actively quote pretty much the whole time.
Although that actually itself will change because Near Intense team is working on, at least for a few of the major assets, an order book type experience.
Because they actually want to make it even easier for solvers to basically these, basically provide quotes up front, right?
Which is effectively what an order book does
is you can have both sides,
both the user intent creators
and the solvers to be quoting.
And you can just,
the protocols can match those orders together
rather than right now
where it's basically the flow is user
provides a quote
and then solvers like both,
you know, kind of compete to fulfill
that quote makes sense um i'm curious from like an internal perspective is there like an ideal
amount of solvers that you guys want to like achieve say like five to ten that are available? And slash, like, what's the onboarding process
when it comes to, say, a market maker or a solver
that's supporting Near Intense?
Are these, like, teams that need to have a specific background
of experience, or can sort of, like, any market maker slash,
you know, solver participate and work with you guys?
Yeah, that's a great question.
But with the caveat that I am not the near intense team,
I'd say as far as number of solvers go, that's actually still kind of to be determined.
I think there's a couple of things to be balanced.
You know, one is the user experience.
And I think there's, if we look across the broader ecosystem
and like which intended protocols,
I think are doing really well,
you'll actually find that a lot of them have single solvers
or a very small number.
And the reason for that is that,
you know, one of the things users care about,
like they care about usually two things,
speed and cost.
And ideally, you want to be as low on both of those as possible.
And so the more solvers that you have, the reality of it is you're going to have, it's going to be slower.
You need to bake in some time for basically the solvers to compete on price.
And basically, that just is latency. But one of the benefits of having multiple solvers is that, you know, theoretically, you can get better prices because there is a
little bit of competition there. You don't have, you know, some kind of like monopoly.
And also resiliency, right? Like you don't want to be reliant on a single solver because,
you know, if for whatever reason, if there's a bug in the solver code, or if that solver is just
like, actually, I don't like where the market is, because some crazy macro stuff has been happening,
which has been, you know, a reality the last few days, then, you know, you just can't trade at all,
which is obviously, you know, that's a huge problem. So I think the ideal now is still very
much figured out. I don't think that, you think that it's necessarily a specific number, but rather is a mix of reliability and priceability and all these different aspects.
So I think that's where the order book approach that will likely be implemented. In that case,
it's a lot easier for a variety of solvers to participate without actually sacrificing on speed because all the solvers are doing is actually just updating their positions on the order book as fast as they can.
So I think that is more conducive to having both multiple solvers or even any number of solvers and being still very performant and fast for users.
So yeah, that's kind of where things are going.
As far as with the all-solver onboarding experience today for Near Intense,
it does require working very closely with the Near Intense team for right now,
just because they're trying to kind of thread the needle
of maintaining a quality user experience
while also building out a proper solver experience.
And so that's why I think right now, yeah, there are the two that are live.
But, you know, especially as they get further into the roadmap and, you know, once there's a potential for an order book,
then I think that's when you're going to see, you know, the floodgates kind of open of like, hey, now anyone is able to solve for this.
But in the meantime, if anyone's interested in running a solver,
they do have a very well-documented API,
including what they call a solver bus,
which is basically an API to kind of provide liquidity
and provide potential quotes to users.
And so it is possible to get,
like actually start building out
kind of a solver for Near Intense
and then can work with the Near Intense team in order to get onboarded.
And yeah, before too long here,
it would be possible for anyone to onboard as a solver.
Makes sense. Thanks for sharing.
I do want to give some room to anyone in the audience.
If they have any questions, feel free to request and come up.
We'll also leave some time at the end as well
if anyone has any things that they want to ask. But I think you've done a great job at giving an
overview of near-intense, how solvers work, and really highlighting the fact that users can
benefit from these gasless transactions. And in the current state of DeFi, this is a significant
step towards a more chain-abstracted experience. So I'm super excited, and I think the product is
fantastic. If anyone has any questions, feel free to request. Otherwise, let's transition a little bit to some of the Nier ecosystem partners.
So Mike from Meteor, I'm wondering how is Meteor going at the moment?
How is Meteor's UX and development at the moment aligning with Nier Intense?
And if you guys are working more closely with the team to maybe embed that into the wallet somehow. How is that going?
So for me here, utilizing the new intent, we integrated on our bridge solution.
Previously, we working together with some other entity called RocketX and
SimpleSwap to support our bridge.
But once new intent is live, we integrated new intent support our bridge. But once NearIntent is live,
we integrated NearIntent as our bridge product
supported in our upcoming launch on the while app.
And also the extension and also the browser wallet,
it's all supported with our
NearIntent bridging solutions yeah we we we take it as part of the bridge
because we want to provide the users a best crosschain solution in that case right um
to bring more liquidity into near uh that's that's kind of like the goal for us
um so yeah that's how we align with a cross-chain narrative
that we try to do within time.
Makes sense.
Thanks for sharing.
Annie, I think for Rhea,
you guys are building some cross-chain chain abstraction tooling.
Would you mind sharing a bit more on that as well?
Yeah.
Yeah, right.
We are building and we're working with some partners
to improve our chain abstraction tooling,
especially that we also noticed that Near Intense
is really effective right now.
And it's a cool solution to have soft fragmentation in DeFi, especially that we can see that
a couple of different tokens seamlessly transferred across chains.
token seamlessly transferred across chains. And yeah, to share a bit more about this, we garner
integrate with the intense directly into our aggregator bridge to improve their experience,
their experience of our user. And with the narrative to remove the fragmentation of DeFi, I think it's a good solution for us in future.
And it's going to be a potential for potential bridging
from other chains to near and from near to other chains
like BSE or EVM chains.
Yeah, everything can happen smoothly behind that scenes,
giving user access to the best liquidity all in one place.
Awesome.
Yeah, I just want to drive home as well for everyone here. Right now you can go to Baratown and essentially either connect your MetaMask wallet, your Phantom wallet from Solana, your Meteor wallet from Near, and be able to deposit assets from those chains and then directly cross-chain swap into the desired asset on another chain,
which is fantastic. So you can literally move Seoul to Bera in a minute or two at a great price
and at a great speed. So give it a try think, obviously, it'll take some education and some time for people to get used to cross-chain swaps, but ultimately, you know, we're simplifying this user experience and truly working towards chain interoperability, right?
it's fantastic in any case um black dragon um do you have any updates on your end um keen to hear
a little bit more from the community side um maybe have any users or community members provided
feedback on near intense slash have you guys tried out um the product that we have built um
yeah anything yeah i think just a couple updates on our end.
And we were definitely excited to see the Baruchain cross-chain collaboration because one of the things that we are working on, we're working on some larger marketing and content creator initiatives.
And that's one of the things that I personally have always looked up to on the Barachain side. So looking to be able to bridge that gap, work with some of those
content creators, nothing formally in the works yet, just as far as the Barachain goes, but it
does align with our overall marketing and content initiatives that we are going to be working on. And then on some of the builder and developer side,
we have a few games under our wings at the moment.
We've been teasing the Spear on Near collaboration for a while and also a
casino and betting pool.
And that peer-to-peer betting pool is currently live on the blackdragon.casino website at the moment.
So a little soft shill and a little bit more into what we're doing.
But would love to be able to connect more about what's going on in Bear Town.
Try to combine, see what the world of characters and dragons and bears can look like. But as far as Intense
goes, I've used it personally. It was something that I geeked out about as a personal crypto
user and just kind of one of those formative moments in my crypto journey, just being able
to use something that I urgently needed it to at the
moment. I don't remember exactly what I was buying at the time, but I do remember just it being a
very like aha feeling whenever I did get to use it for something that I needed it to do, which
I think is always great and something that I'm always kind of screaming on the rooftops for is things to use.
So shout out to y'all for giving us a product that I've needed and the rest of the ecosystem
industry has also needed. So really excited to be able to test out some things. As you mentioned,
trying to tell the story of Nier through content, give things use cases and context. So I'm definitely going to be diving deeper into BitTense and in Baritown,
and hopefully we can do some cool things with it.
Awesome. Thanks for sharing.
Yeah, if you have any ideas in general of how we can work more closely together,
shoot us a DM and we can chat async.
I want to give a brief overview again
on sort of like why did we integrate Bintense
and why is this important for Baratown as a product.
Ultimately, as a team, Adapted,
we're building products that are experimenting
on changing the UI UX for how users interact on chain.
And so Baratown is this all-in-one gateway to Barit chain.
We've aggregated a number of core protocols, a number of primitives, and have essentially
changed the way you interact with these on-chain protocols in a more gamified, fun, and engaging experience.
And so positioning ourselves as this gateway,
it's really, really important to have new products such as this
that can look to increase other users' asset velocity
and bring over more liquidity into BearChain and slash cross-chain as well.
And so we want to position BearTown as this entry point.
We have a number of interesting features,
including a town hall page for governance,
a vault aggregation feature, a token marketplace,
and all the core dApps that you generally need to use within the eco.
And so for us, this is a really, really powerful integration
because it means that we can help users come to Baratown
and help users come to Barachain
from other ecosystems much easier
and then directly have them complete a user journey
that means exploring other protocols in the same page
and in the same platform.
And so we wanna make your experience as seamless as possible.
And that's everything that we're doing.
So if anyone in the audience uses Baritown and they have any questions or product feedback,
you know, jump into our Discord and open a ticket or just send us a message.
Now, Kendall, I want to drive some attention back to Proximity Labs as well.
Sorry.
I'm wondering, you know, how's everything going?
You know, what are you guys focused on at the moment?
Is there anything that, you know, this audience from NIR can be excited to, can be expected to hear from the Proximity Lab side of things, maybe this quarter or the next?
Yeah, great question. So there's basically a few things that we're primarily focused on right now.
So obviously, you know, near intense and part of its core functionality that chain signatures,
that ability for smart contracts to sign, transacts to other chains is a top focus as it is a very unique product that solves a lot of
problems in this space. So there's a couple of areas that that's being used. So
Near Intense and cross-chain being one of them. So Near Intense is just the first product of many
that are being built that basically can be these kind of chain abstracted experiences.
Primarily, I think what's important is actually enabling users to do things that they couldn't do
at all before so to me what's most exciting about near intense is the fact you can swap from all
these new chains well not even new chains these old chains that just because they don't have
smart contracts were kind of inaccessible without going through a centralized exchange before, you know, Bitcoin being obviously the largest and most important of that.
Another use case that is, you know, very much about to be more widely available is the ability
to borrow against those assets on those chains. So it was actually several teams that are building
lending protocols, both for the cross-chain space like Templar,
who's going to support a bunch of different chains like Bitcoin, XRP, Doge, etc. as collateral.
And then some that are laser-focused on Bitcoin, like Satoshi Port, Ivory, RIA.
RIA is actually probably the first lending protocol that's going to launch support for
native Bitcoin and products like that.
So yeah, I think that that's going to be the next wave of this kind of cross-chain available
product, but there's quite a few others that are out there building.
So that's like one area is cross-chain.
The other is basically smart contracts for non-smart contract chains.
And what I mean by this is that because Near smart contracts can sign transactions
for these chains and those custody assets, they can actually be used as kind of a pseudo smart
contract layer for primarily Bitcoin, which enables a lot of functionality that just wasn't
available before. And so the Satoshi protocol team has basically enabled this kind of Bitcoin
abstracted UX where you can use any Bitcoin wallet
to interact with these protocols that are built on Nier
in a way that just feels like using Bitcoin,
but obviously way faster
and doing things you could never do on Bitcoin itself.
So initially, this will be lending.
This will be meme coins.
There's a team called RuneShot or RuneMine.
So it's a product called RuneShot
that's basically trading Bitcoin meme coins,
but at near transaction speed, so sub-second, which is going to be really exciting.
We have cross-chain swaps teams, there's liquid-staked Bitcoin teams, and a few others.
So that's another key area is these smart contracts for non-smart contract chains.
And then the final area is one that's actually much newer and I think very exciting because
it aligns with what a lot of the rest of the New York system is working on with kind of decentralized AI.
And so, yeah, what we've been pushing there is this combination of products we call shade agents. It's an AI agent with no single points of failure and also the ability for multiple instances of this agent to manage the same set of keys in a non-custodial way.
So the way that that works is basically by combining two components.
One is a worker agent instance, which is basically just agent code that will be running inside of specialized trusted hardware called a trusted execution environment.
And then it'll be like those instances
will be tightly coupled with a smart contract
that basically will verify
that the code those agents are running is correct.
And basically that it matches a specific hash.
And that's done through basically
a clever bit of cryptography and hardware engineering
that is becoming a lot more popular in this space.
But what that enables is it enables these basically swarms of agents to collaborate and utilize the same set of keys. And these keys basically can be continually accessed if anyone anywhere decides to
spin up a new instance of this work region and prove they're running the right code. And so that
kind of removes this point of failure
where like an agent can go offline for any reason.
And so this unlocks a ton of different use cases
basically around like these agents
that can very safely and efficiently manage user funds.
And so we're seeing quite a few teams
who are actually looking to basically,
you know, kind of create net new DeFi protocols
that are actually using agents
as core parts of that protocol.
So we had the first launch last week,
which is actually these Twitter-based agents
that can create these single-use addresses.
And in this case, it was registering names on,
ENS names on base.
But basically, a user could tell the agent
it wanted to register a name,
and the agent would actually spin up
this single-use address
for that specific instance of registration, give it to the user and say,
hey, if you transfer this .001 ETH to this address, as soon as you do that, I'm going to go and
register the name for you and send it back to your address. And that's what happened. And that's a
very simplistic example. But the cool thing is this can be used for anything. It can even be used for near intent so that people could swap from Bitcoin on Binance to maybe an asset that's not
listed on Binance on a new chain just by withdrawing to an address provided by this agent.
So a lot of different use cases that are available there. So yeah, it's a little snippet in some of
the things that we're focused on at FlexiMe.
That sounds really, really interesting. I'm curious to know, generally, when it comes to agents, what are like the typical points of failure? Because you mentioned, at least with
shade agents, there wouldn't be any. And what are maybe some of the other examples of
single use addresses? Like if you could think of the other examples of single-use addresses?
Like if you could think of from the perspective of like general DeFi use cases besides, I guess, purchasing an ENS domain, what are some of the use cases that you think would be most used?
Yeah, so the two I'm most excited about, and we're only scratching the surface of what's possible, so people are going to surprise us for sure.
But one is like just staying on Twitter, you see, I think, you know, one of the probably the most kind of mainstream breakthrough crypto app of the last several years is polymarkets.
Like, you know, people who know nothing about crypto or don't care post regularly post polymarkets about different topics that they are trying to either make a point on
or express some signal on,
which I think is really, really broken through.
What I think would be really cool
is if just after seeing that post,
you can comment on that post
and then immediately start placing bets,
which could be a very social experience,
or placing predictions in this case.
And so that's actually a use case
that we haven't seen
who's currently looking into is like enabling that
so that from just from your X account
and, you know, inevitably,
I know X is working on a wallet product.
I don't know if it'll be crypto or not,
but I think there's a decent chance
they'll have some of that functionality.
You'll be able to basically place this bet
just by interacting with this agent underneath a,
you know, a poly market post.
So I think that could be really cool.
And then the other one I'm really excited about is,
you know, there's a growing segment of crypto users
who are basically only,
their only exposure to crypto
is through a product like Robinhood,
like not even a dedicated crypto exchange,
but rather like a, you know,
broader financial like fintech wallet type of product.
And it's actually like a pretty big lift
for those users to, you know,
to start doing things on chain
because like not only do they have to get a wallet
and learn how to use it
and learn about gas fees and all of these things,
but then they have to go
and actually like learn the app itself.
So I think with this one-time address approach,
one really cool use case would be just
you have your Robinhood account,
you have maybe XRP,
and you want to borrow against it.
And so like Templar, for instance,
could utilize this one-time address
so that the user,
all they have to do is basically
they'll tell, you know,
interact with this agent or even a UI
and determine they want to take out a loan.
And then they can actually just
withdraw the XRP directly from Robinhood
and then receive USDC or USDT directly back to Robinhood
and then like, you know, leave her up
or do whatever it is they want to do with that.
And so they can actually start to take
kind of similar to what Coinbase has been
directly integrated with Morpho for CBBTC
and borrowing against that.
But this could work with any exchange or wallet
or any product that supports simple
transfers, which is all of them. I mean, I don't think there's any crypto product that pretty much
doesn't support at least that. So basically it condenses any complex workflow into just a simple
transfer. And so what this means is way more compatibility. So yeah, excited to see how we
can actually empower developers to reach net new audiences or at least reach them much faster and more efficiently through these one time addresses.
Really, really, really interesting.
I can't wait for that to be officially live.
When it comes to non-smart contract chains,
so you're essentially saying the user can interact with, say, Bitcoin
and have smart contracts be settled on Near.
What would the user experience look like?
As in, if someone is interacting with a platform that is running Nier, but you're interacting with assets on the Bitcoin network?
Take me through that user journey.
Yeah, that's the best part.
Specifically for the Bitcoin use case, that's definitely the one where the tooling is the most advanced.
In large part, thanks to the Satoshi Protocol team.
So basically, yeah, you have your Bitcoin wallet,
you have assets, you have Bitcoin,
and you want to borrow USDC and maybe buy more Bitcoin.
Very soon, you'll just be able to go to RIA
or a couple of other Bitcoin lending protocols
and basically connect your wallet.
You'll connect your Bitcoin wallet
like you would with any other wallet
on any other chain.
And then, you know,
you'll click deposit Bitcoin
and a transaction will pop up.
But in this case, it'll be a message,
like a BIP322 message that you'll sign.
It'll have, you know, kind of a JSON blob.
It'll show you all the details,
like, oh, I'm going to deposit one Bitcoin.
Sign that message.
And then you'll have to wait. You'll have to wait for Bitcoin finality,
which does take some time.
But yeah, it'll be the same as any other Bitcoin interaction.
And then you'll just see Bitcoin in this lending protocol.
And then you can borrow USDC against it.
That'll be clicking borrow, entering the details,
signing another message.
And then you'll see that you have a USDC bar
balance. And then you can, or especially if you're using RIA, you can actually then just swap that
USDC for more Bitcoin streak from within the same product by signing one more message. And then if
you want, for whatever reason, you want to have that Bitcoin back in cold storage, your kind of
leveraged Bitcoin, you can then kind of withdraw the same way you would from any other lending protocol on any smart contract
chain.
And after 10 minutes or however long it would take, just over the kind of Bitcoin black
time, you'll have that Bitcoin back on your address.
So basically, I mean, I think what's cool about it is that it'll just feel a lot.
Like even though you're using, what you're actually doing here is using Bitcoin plus near.
But from a UX perspective, it'll feel the same as using just just Ethereum or just near or just these, you know, like because the near part in this specific case will be completely abstracted away.
Like you do not actually have like we have a few teams like, you know, who are very much only targeting Bitcoin users.
And so they're actually going to hide Nier entirely in the background.
But for everyone on this call who obviously is a Nier fan, the cool thing is every single one of these interactions is going to involve Nier transactions.
And obviously Nier is used to custody these assets.
So there's a ton of benefits for Nier here too, which I think is really cool.
And, you know, the Nier bull case here is basically that by doing all doing all of this you know we have all these builders who are engaging all these different
ecosystems and they're actually just leading to more and more transactions on near uh even though
they're targeting these different communities um but but we don't have to make that trade-off of
like educating bitcoiners on like how do you get in your wallet and how to do these things i mean
we have great near wallets like meteoror and some of these other teams,
but we can keep those actually focused on the users
that make the most sense for them
rather than having to meaningfully complicate this UX.
We can make it really, really smooth.
Nice.
Bullish on the bull case.
Let's bring more transactions to near without people really realizing they're using it. Now, FinowlX, I know that I asked if anyone had a question and you obviously jumped up here to be a speaker. So feel free to take the stage and ask your question.
feel free to take the stage and ask your question.
Yeah, thank you.
First, I want to present a little bit about Finol.finance.
We are new to the NIR ecosystem,
and we are building on top of NIR and NIR intents.
And first, I want to just give you a brief story and what you are exactly doing
would you mind keeping it short since you only have nine minutes yeah sure awesome okay so our
goal is to attract users at scale we built famous top layer to become the go-to source for discovering alpha and market trends.
So what we are doing right now, we have our agents, FinnoX, and we are showing the top trending coins.
We try to analyze mindshare engagement volume and show what's hot and why.
And we have our website, which is livefinal.finance,
where we provide a feed summary, updates every four hours.
We deliver the most relevant scripts and macro insights across X
and the new coins, the new projects, the new meme coins.
We try to cover everything through this account PhenolX.
And what we are now building on top of Incense is we want to make the creation of solvers easily.
And basically we are thinking how we can integrate trading using incense on phenols.
So for example, now we have only two solvers and for new meme coins or new projects, it's
a bit difficult to create a new solver and to give the possibility to anyone to trade using their intents.
But this is what we are building on top of Phenol.
We attract users, we give them the alpha, and we want to provide them the solvers which can use to trade,
and everything will be powered by new intents.
So this is
exactly what we are doing and
the question is
especially
about the solvers. Now it's
a bit complicated to create one and
we are thinking how we can
provide a
frontend to do so.
So I don't know if someone can help.
We can talk maybe later.
But the idea is for example, a new pump.fun project,
which can launch and become successful and want to like right away to
create its solver and to provide to near-intense users the ability to trade.
We want to help on that.
Yeah, I'm not sure if you want to take this, Kendall, if you guys are open to having some sort of frontend
be built on board solvers, I guess.
Yeah.
That's a great question.
I'd have to refer to the Near Intense team
because they're going to be a lot more in a place
to enable that.
I think that based on what I know,
what I would, based on what I know, what I would surmise is that, especially once they get closer
what I would surmise is that,
to this open solver experience, that they would definitely want that, you know, especially once
it's more like an order book, for sure, there's going to be, I mean, need to be very robust UIs
that'll kind of facilitate that experience. Because I don't think it'll look exactly like
a traditional order book initially, even though it might gravitate towards that and and obviously once it is just an order
book then uh there's going to be a ton of appetite from their side through support teams that are
building uh you know really really user-friendly and solver you know market maker friendly uis and
experiences around that so basically i would say yes i i My suspicion is there absolutely is appetite. I think timeline-wise is probably a few months away.
But I'm actually not the best person to answer that.
I'll definitely check with the Near Intense team on that.
Okay, amazing.
Because we want to build that and we already start some...
Maybe we can reach directly to the Near Intense team.
Okay.
Yeah, I can definitely shoot me a message
and I'm happy to make some interest.
Okay.
Thanks.
Awesome.
Thanks for that.
Yeah, we've got five minutes left.
So I just want to drive home Baintense
and the fact that we're currently serving as this front end to use NeurIntense.
You can use a variety of different chains and move assets from those chains directly to Barra or vice versa.
And we really want more users to test out the product and come and complete a thoughtful user journey on BarraTown.
We have a variety of different features available.
Frankly, you can complete and explore the Baritain ecosystem within Baritown.
And we've put a tremendous amount of product resources
into streamlining that user experience as much as possible.
Namely, one of them being vaults.
And frankly, I think generally a lot of people when they come
to explore on-chain yield find it quite confusing find it quite fragmented and difficult
because you either have to go through multiple different websites or
look through different aggregator dashboards to find this this yield opportunity and what we've
done is we've essentially um we've aggregated
probably close to nearly 100 vaults now um with a variety of different deposit and reward assets
that you can choose from um and and you can essentially minter lp um deposit into a vault
restate that lp obviously with with pol um into a validator such as infrared or something else
to earn BGT or IBGT. So we've really completed this user journey and solved a lot of the pain
points that we noticed in the last few weeks when it comes to on-chain yield. And so I would urge
everyone, if you do have assets on a variety of different chains and you are farming on-chain yield, whether it's for like stable coins, maybe ETH, USDC, you know, who knows what.
I do think that Baruchain at the moment is providing some of the best on-chain yield, if not the best compared to a variety of different ecosystems.
compared to a variety of different ecosystems.
And so if you do plan on checking out
Baruchain and the vaults available,
use Bintense, right?
Cross-chain swap your assets over,
explore the yield opportunities,
and we're making it really, really easy
for you guys to do that.
So that's my little ending piece.
With the last two minutes left,
if Meteor, Black Dragon, or Rhea,
if you guys have anything else to share,
the floor is yours.
I'll just say use, yeah, use Bintents.
It's awesome.
It's super, super slick. definitely try it out yeah and again like I mentioned earlier
Bintents are literally beating every other
competitor out there at the moment so don't use Shogun don't use Universal X
Nier's got an extra solver
versus the typical one solver for for these competitors
and so you're probably getting better prices and better speeds um so yeah um thank you guys i think
um we're gonna wrap it up here unless um anyone else has has a chance to um share anything else
but otherwise thank you um thank you all and uh hope everyone has a great day share anything else. But otherwise, thank you.
Thank you all.
And hope everyone has a great day or a great night ahead.
And check out Baritown, check out DapDap,
use Bintense, and CrosschainSwap moving forward.
Awesome. Thank you.
Host
NEAR Protocol
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