Intimidated by cryptic jargon, bridging your assets across networks, or the complex process of token swaps?
This can be a rollercoaster of frustration for Web3 users, having to leap between different crypto networks through asset bridges. Not to forget the not-so-intuitive user interfaces, scams, fragmentation of ecosystems, and security concerns.
Enter Rivendell, an intuitive platform that simplifies Web3 tasks using an intent-based infrastructure. Let’s unravel this project for a smoother ride through the cryptocurrency cosmos. 🚀
What is Rivendell?
Rivendell is a user-centric platform that streamlines user intents with a modular agent framework. Let’s decode this to understand Rivendell’s objectives.
As discussed at EthCC, user intents are one of the major UX improvements that can help navigate the diverse Web3 infrastructures. Think of them as specific goals that you (the user) want to achieve. Like a smart assistant, “solvers” such as a person, protocol, or AI bot help you complete the task at hand.
With increasing complexity in the world of Web3, intents help you get your job done with ease. For instance, you can easily find the best rate for a token swap using intents, save on gas fees, and maximize trade profits. Rivendell uses intent-centric cross-chain and bridging to simplify transaction execution. All by forgoing complex contract details and without bothering with the technical tasks.
The concept of intent focuses on the “what” aspect of orders, letting users define their required on-chain outcomes, without focusing on the “how” to do them. This lets Rivendell swap cryptocurrencies with ease, execute orders like private transfers, and repay your crypto loans seamlessly.
Now coming to a modular agent framework. It’s a computational model that simulates user interactions to understand their behavior in various systems. They are flexible and extensible, letting developers customize and adapt to different scenarios.
How does Rivendell help you exactly?
Rivendell simplifies the process of digital currency dealings, letting users describe the transaction they wish to execute in their own words (natural language).
For instance, you want to create an intent call for a transaction, say, send ETH from your wallet to an address. All you have to do is type it out and hit “Execute”. A solver will then execute your intent by deciding on the best method to carry out the order.
- Enhanced user experience: Rivendell adopts a user-centric approach by focusing on the user’s intent, and taking action accordingly. While traditional blockchains are transaction-focused, Rivendell focuses on user intentions and meets their needs.
- Reduced transaction fees: Users are in control as they delegate transaction creation and execution, which reduces the complexity of user interactions with dApps. Rivendell helps minimize costs in cross-chain transactions through customization in trading, lending, or other DeFi activities.
- Education and support: Apart from an intuitive UI, Rivendell also offers comprehensive guides, FAQs, and support that make the world of Web3 more accessible and less daunting.
- Better safety: The use of intents achieves a certain level of abstraction and acts as a major safety enhancement. Rivendell focuses on user intent to determine the optimal path for executing trades/orders that minimise the risk of fraudulent activities.
Unlike the current systems in Web3, Rivendell uses an intent-based architecture that lets you execute your orders, thereby enhancing execution efficiency. You leave the execution intricacies to the blockchain protocol and interact seamlessly with decentralized systems. What’s not to love?!