NEAR Intents: Streamlining Cross-Chain Transactions for the Next DeFi Era

Intent-Driven Trading: Reducing Complexity

NEAR Intents introduces an intent-centric approach to transactions:

• Users specify the desired outcome, e.g., converting 100 USDT to BTC or transferring an NFT across chains.
• The platform automatically determines optimal paths and pricing.
• Third-party solvers compete to execute the transaction efficiently.

Benefits:

• Eliminates manual bridging or token wrapping.
• Enhances security and transaction speed.
• Simplifies the user experience for both beginners and advanced DeFi participants.

Key Advantages of NEAR Intents

1.Native Cross-Chain Support: Operates across 10+ major blockchains, including Ethereum, Solana, and Bitcoin L2, enabling frictionless asset mobility.

2.Ultra-Fast Settlement: Transactions reach final confirmation in 2–3 seconds, dramatically reducing wait times.

3.Automation-Friendly: Designed for DeFi agents, enabling portfolio rebalancing, strategy execution, or even physical payments.

4.Developer Access: Provides JavaScript and Rust SDKs, allowing simple integration into existing applications.

Litecoin Integration: Expanding Liquidity

NEAR Intents recently added Litecoin (LTC), allowing cross-chain swaps with 120+ assets, including BTC, ETH, and SOL.

Impact:

• Enlarged liquidity pools
• Lower transaction fees
• Faster execution

(Image source: NEARProtocol)

NEAR co-founder Illia Polosukhin notes future plans include supporting additional blockchains and possibly Litecoin’s MWEB privacy features, further extending cross-chain capabilities.

Why NEAR Intents Matters

By abstracting complex cross-chain steps, NEAR Intents:

• Lowers entry barriers for new users
• Streamlines operations for DeFi enthusiasts
• Provides developers with a unified framework for multi-chain applications

With the expansion of supported assets and blockchains, NEAR Intents is poised to become a new standard for cross-chain trading, accelerating the evolution of decentralized finance ecosystems.

Conclusion

NEAR Intents streamlines cross-chain trading with its intent-driven framework, enabling fast, secure, and seamless transactions across multiple blockchains. As more assets and chains are added, it is poised to set a new standard for cross-chain DeFi.

Disclaimer:

This is not investment advice. This information is provided for informational purposes only and should not be construed as a recommendation to buy, sell, or hold any asset. Cryptocurrency trading involves a risk of loss. Gate US services may be restricted in certain jurisdictions. For more information, please see our legal disclosures: https://us.gate.com/legal/disclosures