Orders

Overview

Instead of submitting a transaction that executes immediately on-chain, users create orders by signing an off-chain intent. Each order specifies the desired trade, such as which assets to exchange and under what conditions, without committing to a particular execution path. Once signed, the order can be fulfilled by executors who carry out the trade on the user’s behalf, strictly within the defined parameters.

Flow of an order

The lifecycle of an intent, from creation to execution, consists of four steps:

• Order creation The user submits a swap order, which is then recorded in Carina’s orderbook.

• Batch formation The Autopilot aggregates multiple orders and groups them into a batch for processing.

• Solver competition Solvers evaluate the batch and compete to find the most efficient execution strategy, aiming to deliver the best possible prices for users.

• On-chain execution The winning solver submits the batch on-chain and executes the trades on behalf of all users in the batch.