NEAR Intents The Language of Trillions of Agents w Alex Shevchenko

Captions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.

1. 0:00

   okay hello everyone my name is Alex shenko I'm the CEO of Department of Neo efficiency um I'm the guy who is together with Bo and making sure that near protocol is working and we're going to talk today about new intents maybe some of you have been already hearing about this protocol and actually using it raise your hands if you did okay that's great so lots of people who already tried it and um um as always I would like to start with U some kind of

2. 0:30

   citation from a great person uh that I really admire and today this is the one there are two Infinities in the world the size of the universe and the number of agents that will be launched and I'm not 100% sure about the universe this is this is what Einstein said approximately 100 years ago and um that's actually I think this is actually the truth and um like many people like there were already couple of talks uh mentioned in Ai and and agents and I would like to start with you know a basic and a basis here

3. 1:05

   so what is an AI agent right so this is a system that is able to perceive the environment it is able to process this information then it is able to take actions towards some specific goals that are set and then it is able also to learn within this process right so it's going to this is something that we probably you know understand already now um it is very easy to Envision uh a future when these AI agents these systems that are trying to achieve their

4. 1:38

   goals uh they have different goals right so some of the systems are helping you to get food deliveries other systems are helping you with the transportation um some other systems are helping you to swap tokens and because of this it is very easy to see the future where we are not going to have just a single AI agent that is going to help us out but rather we're going to have a multitude of them right trillions

5. 2:04

   right and uh that's actually the case and if so then they are going to have their own specialization they are going to uh be experts in some domains and uh in order to uh to provide good services to the users who are going to use this agents they probably would need to have a place to cooperate if my agent knows everything about myself then maybe it is not very specialized in the food delivery um that

6. 2:37

   I like and then maybe it needs to cooperate with other AI agent who is specialized in this so the cooperation between the agencies is very very important thing they need to discover each other they need to negotiate in between themselves to figure out the deal who is going to pay whom or how it is going to be structured they need to settle this deal and in case there are some problems with the delivery of the services they also need to raise dispute cases and these disputes need to be resolved right this

7. 3:11

   is um this is like a thing that that actually need to exist and U the truth is is we are building it right and this is a near intense and this is a grand Vision behind the near intense so this is the protocol that contains and offchain message bus for communication and discovery of the eii agents this is a new type of action on the near protocol that is specifically existing in order to settle these negotiated

8. 3:43

   parameters of the deals in between the AI agent and then there is a payment uh Channel standard that is connected to it there is also a dispute resolution mechanism that is built in this thing so everything that I'm talking about up until this point is pretty generic and pretty forward looking right just because AI agents they are making their baby steps right now and in order for such a system to mature it is going to

9. 4:13

   take years um but what we can do right now well we actually can do a multi-chain DEX right now and this multi-chain deck is something that gives you a first very simple type of an intent uh that people want to do and also this is a use case that works in crypto right now right but if you would think of it um it is not very far from the general protocol that I was talking about couple

10. 4:47

    of slides ago people in order to trade multichain they need to discover a counterparty with which they need to trade they need to negotiate about the price of the asset and they need to settle it somehow so the actual exchange of the tokens need to happen the only thing that is not existent on the multichain Dex is the dispute resolution mechanism because the amounts of the tokens are tracked on the blockchain so this smart contract

11. 5:20

    can be a dispute resolution point that there will be no disputes because the smart contract is able to check uh the amounts that have been traded right so in fact multichain Dex though it sounds very different from the AI protocol um or AI agents protocol um it is actually not very far from that and that's why this use case is a great first use case for The Wider um Vision that we see for the future and it is live you are able to

12. 5:52

    try it out on near- in.org it is in a better stage at the moment so please be careful with you know your money and and stuff like that um make sure that you are not uh not kind know you are able to deposit there the things that you're able to lose now what we have right now with near intense in comparison to what we have been talking about uh on redacted conference uh just uh when three months

13. 6:22

    ago we do have lots of chains that are already integrated with the protocol we are adding These Chains rapidly so we now have Bitcoin salana ethereum near base arbitrum Ripple Dodge zcash Bara all of the Aurora virtual chains that are launched right now they are all integrated with new intense which are more than 70 virtual chains that are available and more chains are coming soon the list of the integration we are slowly starting to run out of chains for

14. 6:57

    integration just because almost all of them are integrated right um near salana and ethereum wallets are supported so you able to log in with any of these wallets inside of the front end of the intents and you're able to execute transactions with this protocol which is also pretty great you don't need to have an year account in order to transact on intents multiple partners have already integrated the protocol directly into their front end because it is an open protocol anyone is

15. 7:31

    able to do you don't need to go directly to near- in.org in order to use the protocol that's that's good and even more Integrations are coming uh we have a natural more than half a million daily volume and it is steady growing we have seen the uh volume of swapping uh exceeding several million US Dollars uh daily trading volume uh already on this protocol uh but uh like every single day there is more than 500K um in comparison and this is like in three months right so three months ago

16. 8:03

    there was zero and now we have not been running any you know marketing campaigns around it we were not dropping people tokens anything people just started to use it because they see the value when they're able to permissionless trustless uh transact across chains and we have more than 50 tokens that are listed there but all of the major tokens that usually people are trading on centralized exchanges I'm talking about stable coins uh base tokens of the corresponding chains all

17. 8:35

    of these tokens are there available and uh the thing that I I I can tell you is that uh already right now you can drop using your centralized exchange and instead of It Go and using your intents now obviously obviously I would not be me if I would not bring some something new here to share with you and uh I'm glad that I am able to do this and all of this happening because of my tremendous team uh that is just building all the time and there are couple of things here and

18. 9:14

    the first one is the support of pasis now you're able to log in in near intense in the protocol and in the frent directly with a pass key you even don't need to have a crypto wallet and more in order to non-custodial store crypto that is located on different chains you're it is live right now you're able to go there log in with the pass key and here you go you have your crypto there and you're able to swap it and do whatever you want to do

19. 9:48

    there is no not a single transaction that the user is sending the only thing that user is doing is sign in the messages and it is able to do with the pass key cryptography which is different from the new cryptography that is used but it is working like that so that's the first thing yeah and the best thing I encourage everyone to try it out because what it gives to you also is the wallet lless experience where there is no

20. 10:15

    switch of the interface from the DAP to the wallet in order to sign something you are completely staying in the dep and it makes things so much simpler and that the flow is just straightforward forward so encourage everyone to to try it out and there's a second feature which is the OTC trades you can think of it as a peer-to-peer trading where instead of trading with the market makers that are providing liquidity inside of the protocol you can trade with your buddy you can create a trade

21. 10:48

    in which you specify the amount of tokens that you're selling and the amount of tokens that you getting back and you can send it as a link to your friend or to the counterparty with which you willing to trade and then this counterparty is able to click it and it is able and this person is able to counter sign the trade and then it is going to be settled so there is a true peer-to-peer

22. 11:11

    trading why this is important um for people who are caring about with whom they are trading like institutions um they now able to trade only with selected Partners um because they have passed kyc or KYB or something like this so all of these available in the um in the near Dash intense. org right now and together on top of this feature um um in the following days we are going to release a functionality of Link drops and this is functionality

23. 11:49

    that is uh that is even better um or like this is an additional step this is a kind of a a sub use case behind the OTC um where you are able to put inside of a link drop um uh you can you can say that I would like to transfer 10 usdc to the person who is going to redeem this link drop and then you can send this link to your mom and she is able to click it log in with the pass key get 10

24. 12:19

    usdc swap five of it into Bitcoin swap two of it into zcash keep the rest of it for for herself and then obviously sell everything into Aurora and hold it forever um but that's actually the thing that you're able to do she doesn't need to install a crypto wallet it is going to work like that it is going to work like magic with her face or her finger signing all of the requests from my personal opinion as a person who was always pushing towards the better user experience this is the

25. 13:02

    way how things should work because this is how web2 is working right now uh I'm getting my revolute account or my bank account I'm just looking at my phone I'm sending money to somebody else and then they are receiving this money this is natural it is not natural when I need to switch to some kind of wallets and do some complicated things right so so this is how things can work in crypto and the most important thing I I would like to

26. 13:33

    put an emphasis here uh this part is like this front end it is an open-source front end it is just a reference implementation for the front end uh what we would like to see is different protocols different distribution channels different wallets to incorporate this solution directly inside of their front ends so that their users are going to see absolutely the same user experience while they don't need to switch into other you know

27. 14:05

    applications into their browser in order to perform such a straightforward and simple action as just swapping tokens so I I encourage everyone to do this especially if you have a distribution channel uh we do have lots of partners that are in the process of integration of the near tense and uh all of them are loving it so in the following months you're going to see quite a number number of big announcements around these things