Going Beyond

ParaSwap’s mission has always been simple: deliver the best efficient and transparent access to Open Finance. For years, onchain aggregation was the best way to achieve this, but now the technology has matured enough to evolve past this old system and its hidden limitations. Now, with the transition to intent-based execution, we’re taking a leap forward for both users and liquidity providers.

More than Market Orders

In practical terms, aggregation is not much different from what is traditionally referred to as a market order. Since it has to fetch the rates at a specific moment from the best liquidity sources, the rate is only valid for a short time, and has to be executed within a block with some level of slippage. This is inevitable due to the way AMMs work and rebalance automatically based on the tokens on the pool, and as such orders beyond Market are not possible at the onchain level without fundamental changes from major AMMs.

This is where the changes introduced by Miró change everything, as the upgrades are done above the onchain level. Depending on the type of order an Agent has to execute, it can modify its onchain execution to suit the specific usecase. For instance, it can execute the order across different blockchains, or over a period of time instead of all at once.

With this new level of flexibility unlocked, new types of trades become finally available with all of the benefits of DeFi: Advanced limit orders, DCAs, perps and more.

Bringing the CEX experience on chain is an essential step for mass adoption, and with our evolution beyond aggregation we get one step closer.

Reducing Execution Risk

Besides trade types, accessibility and user experience are also some of the biggest challenges for web3 mass adoption. This not only applies to the visual side of interacting with web3, but also some of the hidden considerations which only advanced users are aware of.

When a user wants to place a traditional market order, there’s a variety of parameters which can cause the transaction to execute less efficiently, or even fail altogether. For example, an improper gas estimation can lead a user either overpaying for their order or not paying enough and the order failing after a peak in network activity. Even prior to execution, if the order is shared in a public mempool, the user can be vulnerable to some MEV attacks which extract value from their swaps. If we want mass adoption, we cannot expect users to have to be aware of all of these technical mitigations.

With intent-based execution, professional agents handle these complexities automatically. Instead of users estimating gas or worrying about MEV, agents compete to provide the best possible execution. This is similar to how the internet abstracts away IP addresses. DeFi needs to abstract execution complexities for mass adoption.

Endless Modularity

Up until now, we have discussed some of the immediate benefits of our evolution beyond aggregation, but the true power of this next step comes from one of the core aspects of DeFi: the ability to connect using financial building blocks.

With the introduction of intent-based execution , agents will now be able to integrate into different protocols seamlessly, allowing for an even greater level of interoperability than before. This, combined with the benefits of not being constrained by single-block execution, will unlock use cases which before would have been impossible.

Building the Future of DeFi with Miró

Project Miró has already integrated multiple agents into its infrastructure, actively executing the most efficient trades for our users. Over time, we aim to establish a robust agent network, making ParaSwap the most reliable trading source in Web3.

These agents, also known as solvers, will compete not only with each other but also with our Market API. If agents fail to provide a better price than the market, our fallback mechanism ensures users are automatically routed through the best available market quote. This guarantees that every trade is executed at the most competitive rate.

A New Identity for a New Era

As our vision expanded, we recognized that this evolution was more than just a technology upgrade, it was the foundation for something bigger. This is why we are rebranding: to align our identity with the future we are building.

Welcome to the Future of DeFi

Project Miró is more than just an upgrade, it’s a revolution in how decentralized trading works.

By moving beyond simple aggregation, we are setting a new benchmark for DeFi innovation.

This isn’t just ParaSwap evolving, it’s ParaSwap leading. The next chapter starts now. Are you ready? 🚀