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Mechanism Overview

Reiy Finance is an intent-based meta DEX aggregator on Sui. It escrows protected user intents on-chain, lets solvers compete through Fisherman auction rounds by aggregating liquidity across Sui venues, and enforces settlement through Move contracts.

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Abstract

Users submit intents that define the tokens, amount, minimum payout, deadline, slippage tolerance, and partial-fill preference. Fisherman groups open intents into auction rounds, asks enabled solvers for executable solutions, validates the replies, ranks by score, signs the winning certificate, and hands settlement to the winning solver. Contracts verify the certificate and settlement checks before escrow can move.

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Mechanism

  1. Intent submission: users lock sell tokens in protocol escrow.
  2. Admission protection: SBBO checks the minimum payout against an oracle-anchored fair price after slippage tolerance.
  3. Round creation: Fisherman groups indexed open intents by directed pair and target epoch.
  4. Solver competition: solvers return SolveResponse payloads with fills, gross payouts, protected minimums, scores, and expiries.
  5. Winner ranking: Fisherman validates replies and selects the highest valid score, with deterministic tie-breaking by solver endpoint id.
  6. Certificate signing: Fisherman signs the winning settlement certificate for the current epoch.
  7. Settlement: the winning solver settles on-chain, with contracts verifying the certificate, solver registration, payouts, fees, epochs, deadlines, and atomicity.

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Key invariants

  • Escrowed custody: user sell tokens remain in protocol contracts until cancellation or valid settlement.
  • Protected minimums: settlement cannot pay less than the signed protected minimum after the volume-fee floor check.
  • Partial fills when enabled: a solver may fill part of an intent only when the user allows it.
  • Solver accountability: settlement requires the signed solver to remain registered and above the minimum active stake.

Reiy Protocol

Read the product overview.

Solution Validation and Ranking

Review the current validation rules.
Last modified on June 23, 2026