Introduction

Carina – The Intent-based Meta DEX Aggregator

Carina is a decentralized meta DEX aggregator built natively on the Sei Network. It uses an intent - based batched auction mechanism to optimize trade execution and reduce slippage and MEV risks.

When you submit a signed trade intent, it is collected and grouped with others in a batch. Competing solvers propose execution strategies that aim to achieve the best possible rate.

Whenever direct peer-to-peer matching is not possible, solvers route trades through decentralized exchanges (DEXs) or other aggregators. The winning solver then executes the batch on-chain, applying a uniform clearing price across all trades.

Limitations of Traditional DEX Aggregators

While traditional DEX aggregators help automate routing, they still rely heavily on direct on-chain execution, which introduces several challenges:

• Swaps often require multiple confirmations, making the process slower and less convenient.

• High gas fees and failed transactions remain common issues.

• Liquidity is spread across many DEXs, resulting in inconsistent prices and less efficient trades.

• You still need to choose pools, and compare routes manually.

• MEV bots can reorder transactions and profit from your transaction.

These issues make trading less efficient and more complicated, especially when the goal is simply to swap tokens quickly and reliably.

Carina's Solution

Carina improves on the traditional model by introducing intent-based batch auctions and solvers competition. This design ensures that every trade is executed efficiently, with optimal pricing and lower friction.

Key Advantages

1. Fair and Predictable Execution

Carina minimizes slippage and prevents MEV attacks by batching trades and executing them through solver competition. This ensures:

• Uniform pricing for all traders within a batch.

• Protection against front running and transaction reordering.

• Stable execution even during periods of high market volatility.

2. Gas Free Trading

Carina removes the need for you to pay gas fees directly. After a trade intent is submitted, solvers handle on-chain execution and cover the associated costs.

As a result:

• No failed transaction costs.

• No gas price management required.

• A smoother and more consistent trading flow.

3. Simplified User Interaction

Carina abstracts away unnecessary trading complexity. You no need to select liquidity pools or optimize routes. They simply specify their intent. For example, “swap 100 USDC for SEI”, Carina determines the most efficient way to execute it.

This approach combines technical efficiency with user simplicity, making DeFi trading more accessible to everyone on Sei Network.