Making DeFi Efficient Again: BarterSwap’s Intent-Based Engine with Nikita Ovchinnik

Sam kamani

September 5, 2025

In a space constantly pushing boundaries, one of the biggest hurdles in DeFi remains surprisingly simple: liquidity fragmentation. Billions of dollars move through decentralized exchanges, yet users still lose value to slippage, inefficient routes, and MEV extraction. In Episode 181 of Web3 with Sam Kamani, Nikita Ovchinnik, co-founder of BarterSwap, breaks down how their platform is solving these problems by rethinking how we swap tokens—starting with user intent.

With over 450,000 trades and $3 billion in volume already processed, BarterSwap is proving that intent-based trading isn’t just theoretical—it’s a working solution.

The Road to Intent-Based DeFi

Nikita's Web3 journey started back in 2017 with Ethereum, eventually leading to a role at 1inch, one of the original DeFi aggregators. There, he saw firsthand how fragmented liquidity and rigid routing limited user experience. That insight inspired BarterSwap—a system designed not to just find the best route, but to find the best match, based on what users actually want to do.

At its core, BarterSwap operates as a peer-to-peer engine that matches user intents on-chain. This approach removes the need for centralized order books and reduces reliance on traditional automated market makers (AMMs), making swaps cheaper and more direct.

Understanding How BarterSwap Works

Most decentralized exchanges require users to interact with liquidity pools. That means slippage, front-running, and unpredictable pricing. BarterSwap flips this model. Instead of routing through pools, it allows users to express intent—say, “I want to swap token A for token B”—and then matches those intents with others on the platform or via external solvers.

This opens the door to significantly more efficient trades, especially in long-tail token pairs where liquidity is thin. According to Nikita, the platform has already saved users over $1 million in slippage and other costs—evidence that there’s demand for a smarter way to trade.

Facing the Challenges: MEV and Beyond

One of the biggest pain points in DeFi today is MEV—miner extractable value. It often creates a hostile environment for users, who unknowingly lose funds to bots and block producers. BarterSwap tackles this head-on by designing a more transparent system where trades are less exposed to manipulation.

Another hurdle? The fragmented nature of DeFi liquidity. Nikita acknowledges this as a persistent issue, but one that intent-based systems are uniquely equipped to handle. By matching orders directly and tapping into a network of solvers, BarterSwap avoids the inefficiencies of fragmented pools.

Solvers, Builders, and the Future of DeFi

Solvers are emerging as a key component of the next wave of DeFi infrastructure. These off-chain agents compete to fulfill user intents in the most cost-efficient way, essentially acting as decentralized routers. Nikita believes solvers, block builders, and intent-based protocols will become the foundation for a more user-centric DeFi stack.

As for what’s next? The BarterSwap team is focused on expanding to more Layer 2 networks, increasing liquidity sources, and enhancing the intent-matching engine. It’s all part of their plan to make DeFi not just usable—but optimal.