Use treasury funds to invest in IntentX seed round.

IntentX seed round details can be found here: Seed round details

Check their Medium article here for more info on how IntentX works. (click me)

PROPOSAL: Use $5k - $10k of treasury funds to invest into IntentX's seed round.

At the time of writing this we only have $3,500 contributed and we have to hit a minimum ticket of $10k. Assuming nobody else contributes before the deadline, we will use treasury funds to fill out the remainder ($6,500) to hit the $10k ticket.

• Contribute 2 ETH ($3,250) OR no investment if we don’t hit $10k ticket.
• Fill out remaining to hit $10k OR contribute $5k to the seed round.
• Contribute $7.5k to the seed round.
• Contribute $10k to the seed round.
• 'Against' if you vote to not utilize treasury funds to make a contribution at all.

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PROS

• UI looks clean based off of the sneak peeks on their twitter, website, and articles.

• IntentX team just closed with a VC to fill out the seed round.

• IntentX will launch with 180+ tradeable pairs. I think the most pairs I could find on a DEX was 81 on Gains?

• People seem to be bullish on this "intent architecture". I haven't done the best research on it ngl, but their article goes more indepth on how it works.

IntentX, with its RFQ / intent-based architecture, solves the liquidity dilemma and can effectively “bridge” CEX liquidity on-chain through a solver. The trades on-chain are completely permissionless, secure, and isolated. Meaning there is no risk of custody or insolvency.

• Launching on Base which is obviously a hyped L2 to play on. If they don't completely deny a future token then we can assume airdrop speculators and degns will come play.

• The only perps DEXes on Base at the moment are GMX forks (still no sl/tp functions) and only allow ETH & BTC trading. Compare to 180+ tradeable pairs @ launch for IntentX.

• The only other RFQ/intent-based perps DEXes I've seen are based.markets, which is also on Base, and Thena, which is on BNB. Compare their website, docs, trading UI, to IntentX's and you'll see IntentX blows them out of the water. $BASED currently sitting at $2.2m market cap.

• PRINT3R is another GMX fork that will be launching on Base. At launch they will only support ETH and BTC. UI screenshot on their website shows it looks like a reskinned GMX v1 fork, but focusing on community and trading incentives.

• I don't know much about their team but their founder, Levy, is active, answers questions in Discord, and has been researching DeFi for a while based off his twitter.

• With LayerZero tech, users will be able to use and trade on IntentX from different chains in the future. No need bridge to Base, trade on the chain where your liquidity is.

• IntentX utilizes Symm_io's intent-based architecture. Saw this asked in their Discord - "is IntentX a frontend for Symmio?"

Response from a community member: IntentX can be thought of as a frontend for Symmio. It's an application layer built on top of Symmio's perps consensus layer, which is the backend orchestration architecture. It effectively connects MMS to traders on IntentX's frontend. What this means is that IntentX connects traders to the intricacies of Symmio via our frontend. Additionally, IntentX employs its proprietary logic, often referred to as 'Solvers,' to automatically deliver the best quotes from MMs to our users. This ensures that our users have access to optimal trading opportunities and liquidity. In summary, IntentX acts as a user-friendly interface that not only connects to Symmio but also enhances the trading experience by providing real-time, competitive quotes through our unique Solvers.

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CONS

• too many perp dex, will be tough to capture market share till fees/ trading UI is at least comparable to cex to attract users.
• long vesting, by the time DAO gets the full allocation, 10 other intent architecture perp would’ve pop out and eat into intentX market share.
• Not sure if Coinbase will want to launch their own perp dex platform on base which will directly outcompete intentX (this risk changes if there’s clear support from Coinbase for intentX)
• Need more concrete evidence of "CEX-like liquidity"

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Thade's thoughts: Obviously this is a high-risk bet! We're making a bet on the team and that traders will come on-chain and utilize IntentX's platform. I recommend reading their pitch deck and docs thoroughly.

IntentX gaining users and trading volume ultimately depends on marketing, making noise on CT, good tokenomics, incentives, and good UI/UX to keep traders on their platform. Investing in this seed round is making a bet that they will succeed with their roadmap and gain market share in the ever expanding on-chain perps DEX market.