ParaSwap, a decentralized exchange aggregator, is launching an intent-based trading protocol aimed at mitigating the problem that costs crypto traders millions of dollars a day - MEV attacks. "MEV has cost users billions of dollars, resulting in a degraded user experience and reducing the efficiency of the DeFi protocol," said Mounir Benchemled, founder of ParaSwap. In early 2024, the ParaSwap team began work on an intent-based transaction model to provide MEV protection. According to Benchemled, the protocol allows users to define their transaction "intent" rather than exposing the original transaction to a memory pool. "The presence of MEV affects not only individual transactions, but also the overall fairness, accessibility, and decentralization of the DeFi ecosystem, making it one of the most pressing issues to be addressed," argues Benchemled. ParaSwap's Delta protocol is designed to solve this problem by submitting the intended transaction in three steps. The process starts with a pre-processing where the user's intent is defined (e.g. price range). This intent is then submitted to an auction where the AI agents compete to come up with the most effective execution strategy, taking into account factors such as liquidity and timing. The winning agent executes the transaction through the Portikus Swap module, adhering to the user's intent and minimizing the risk of MEV development.