Auctions

Overview

In Carina, batches of intents are auctioned to solvers, who submit candidate execution solutions. The protocol selects the solution that best satisfies the specified constraints, and the solver that proposed that solution executes it on-chain.

Auction mechanism

In Carina, multiple intents are grouped into batches and offered in an auction to a network of solvers. Each solver analyzes the batch and submits an execution solution that respects all user-defined constraints, such as asset amounts and limits. The protocol evaluates these proposals and selects the solution that provides the best overall outcome. The solver that proposed the winning solution then executes the batch on-chain on behalf of the users.

This auction-based execution model provides several benefits:

• Better prices through competition among solvers

• More efficient routing across multiple liquidity sources

• Lower execution costs enabled by batching and internal matching

• Fair execution incentives, as solvers are rewarded for maximizing user value

• Gas abstraction, removing the need for users to manage or pay gas directly