BREAKDOWN OF “AN ANALYSIS OF INTENT-BASED MARKETS”

Summary from the TLDR Crypto newsletter

Gauntlet founder Tarun Chitra's recent paper about intents researches how effort, congestion, and entry costs affect intent markets. To receive the most tokens during an intent swap, reduced competition helps since it increases the win rate of solvers, reducing their cost. A system similar to a Dutch auction can be used to maximize user utility when there's no possible arbitrage between an onchain AMM and a solver.