Intents
· 2 min read
incorporate the clarification regarding the execution frequency of the sell intents, making the distinction between the Bulk Sale (multi-fill) and Signed Sale (single-fill) explicit.
🤝 Revised Overview of Decentralized OTC Protocol Scenarios
| Scenario | Maker (Post Intent) | Taker (Accept/Confirm Intent) | Intent Parameters & Constraints | Permit2 Mechanism |
|---|---|---|---|---|
| Bulk Sale | Seller posts the intent, defining the constraints of the trade. | Buyer accepts the intent, defining their own intent within the seller's constraints. | Price: Fixed or Market-Following; Quantity: Total quantity authorized; Execution: Allows multiple fills by counterparties until quantity or time is exhausted; Counterparty Range: min & max; Time: Intent validity deadline. | Permit2.permit & Permit2.transferFrom; Authorization for the spender & spender initiates the fund transfer call. |
| Signed Sale | Seller posts the intent, defining the constraints of the trade. | Buyer accepts the intent, defining their own intent within the seller's constraints. | Price: Fixed or Market-Following; Quantity: Max quantity allowed per counterparty transaction; Execution: Limited to a single transaction per intent; Counterparty Range: min & max; Time: Intent validity deadline. | Off-chain Permit2 signature & Permit2.permitWitnessTransferFrom (requires Permit2 signature verification); Authorization for the spender & spender initiates the fund transfer call. |
| Buyer Intent | Buyer posts the intent. | Seller accepts the intent, defining their own intent within the buyer's constraints. | Price: Fixed or Market-Following; Quantity: Max quantity allowed per counterparty transaction; Execution: Limited to a single transaction per intent; Counterparty Range: min & max; Time: Intent validity deadline. | Off-chain Permit2 signature & Permit2.transferFrom (requires Permit2 signature verification); Authorization for the spender & spender initiates the fund transfer call. |