1. Intent Life Cycle

An intent's lifecycle begins with PartyA (the trader) initiating a trade request on Symmio by specifying the trade's key parameters. This request, the "intent", is broadcast on-chain through the core contracts. Once posted, it's visible to PartyB, the hedgers or market makers, who can review and respond.

Hedgers and solvers monitor these on-chain requests with tools like event listeners or subgraphs. They evaluate each intent against their strategy, risk profile, and market conditions. If a hedger decides to proceed, they claim the intent and respond with a transaction on-chain. That transaction signals agreement to the terms, or any modifications they want, such as an adjusted price or collateral requirement.

PartyA sendQuote flow

• Create a sub-account through the AccountLayer.

• Deposit and allocate collateral to the sub-account.

• Call sendQuote() with the desired parameters. This requires two things:

  • A Muon signature verifying PartyA's ability to open a position and the price of the asset (usually handled by the frontend builder).

  • The transaction encoded via the _call() function on the Account Layer contract, which forwards to sendQuote() on the Diamond contract.

After being whitelisted as a PartyB by the SYMMIO developers, hedgers can use the Cloverfield interface to send quotes with the sendQuote functionality. This lets hedgers verify their service and test their strategies and workflows in real time.

More documentation on sendQuote is available here.