diff --git a/README.md b/README.md
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+++ b/README.md
@@ -6,5 +6,6 @@ The purpose of the repository is to store and discuss intent specifications that
 The specifications are intended to be used as a reference for developers to understand how to create and interact with
 the intent.
 
-| Number | Title | Author | Status | 
-| ------ | ----- | ------ | ------ |
+| Number | Title                    | Author | Status | 
+| ------ |--------------------------| ------ | ------ |
+| [0001](intents/dip-0001.md) | NEP-141 Token Exchange Intent Specification | @gonchar1987 | Draft |
diff --git a/intents/dip-0001.md b/intents/dip-0001.md
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@@ -0,0 +1,128 @@
+
+| DIP    | Title             | Author                              | Status | DiscussionsTo | Version | Created     | Last Updated |
+|--------|-------------------|-------------------------------------|--------|---------------|---------|-------------|-------------|
+| 1 | NEP-141 Token Exchange Intent Specification | Alex Gonchar <alex.gonchar@aol.com> | Draft  | [#1](https://github.com/defuse-is-near/DIPs/pull/1)| 0.1.0 | 2024-06-20 | 2024-06-20 |
+
+## Overview
+
+This document specifies the intent for an exchange mechanism that enables the transfer of NEP-141 tokens within the [Defuse](https://defuse.org) 
+ecosystem. NEP-141 is the standard for fungible tokens on the NEAR blockchain, and this intent aims to facilitate 
+seamless and secure token exchanges between users and solvers.
+
+## Scope
+
+- Token Standard: NEP-141
+- Blockchain: NEAR Protocol
+- Participants: Users and Solvers
+
+## Intent Interaction
+
+All interactions with the intent (creation and execution) are performed by sending the `ft_transfer_call` transaction to
+the corresponding NEP-141 tokens which are involved in the exchange process.
+
+### Creation 
+
+For the creation of the intent the initiator needs to create `Action::CreateIntent` action, serialize it with the 
+[Borsh](https://borsh.io) library, and encode given bytes with base64. After that, send the `ft_transfer_call` 
+transaction to the NEP-141 token, which the initiator wants to exchange with such arguments:
+
+```json
+{
+    "receiver_id": "intent.near", // Intent contract account id
+    "amount": "1000", // Amount of tokens the intent initiator wants to exchange
+    "msg": "base64_encoded_borsh_create_action" // Base64 encoded serialized in Borsh create action
+    "memo": "Create intent: NEP-141 to NEP-141"
+}
+```
+
+### Execution
+
+For execution the intent the solver needs to create `Action::ExecuteIntent` action, serialize it with the 
+[Borsh](https://borsh.io) library, and encode given bytes with base64. After that the solver needs to send the 
+`ft_transfer_call` transaction to  the NEP-141 token which the intent initiator wants to get with such arguments:
+
+```json
+{
+    "receiver_id": "intent.near", // Intent contract account id
+    "amount": "2000", // Amount of tokens the intent initiator wants to get
+    "msg": "base64_encoded_borsh_execute_action", // Base64 encoded serialized in Borsh execute action
+    "memo": "Execute intent: NEP-141 to NEP-141"
+}
+```
+
+The exchange of the token will happen after successful intent execution.
+
+### Rollback
+
+If the intent initiator changes his mind he can roll back the intent after [minimum TTL](#minimum-ttl) by sending the 
+`rollback_intent` transaction to the intent contract with the intent id as an argument. After successful rollback, the
+tokens will be returned to the intent initiator and the solver.
+
+### Minimum TTL
+
+The minimum TTL defines after what time the intent can be roll backed by the intent initiator. The default value 
+of minimum TTL is one minute, however the owner of the intent can change the value by sending `set_min_ttl` transaction
+to the intent contract. 
+
+## Data Structures
+
+The action for creation or execution an intent represented by the following enumeration:
+
+```rust
+pub enum Action {
+    /// Action to create an intent
+    CreateIntent(
+        String, // intent id
+        Intent, // intent
+    ),
+    /// Action to execute an intent
+    ExecuteIntent(
+        String, // intent id
+    ),
+}
+```
+
+The intent is represented by the following data structure:
+
+```rust
+pub struct Intent {
+    /// Initiator of the intent
+    pub initiator: AccountId,
+    /// Tokens the initiator wants to exchange
+    pub send: TokenAmount,
+    /// Tokens the initiator wants to get instead
+    pub receive: TokenAmount,
+    /// Intent expiration
+    pub expiration: Expiration,
+    /// Referral for getting a fee
+    pub referral: Option<AccountId>,
+}
+```
+
+The `TokenAmount` structure is defined as follows:
+
+```rust
+pub struct TokenAmount {
+    /// Account id of token
+    pub token_id: AccountId,
+    /// Amount of tokens
+    pub amount: U128,
+}
+```
+
+The `Expiration` is the enumeration and defined as follows:
+
+```rust
+pub enum Expiration {
+    /// No expiration
+    None,
+    /// Expiration time in seconds.
+    Time(u64),
+    /// Expiration block.
+    Block(u64),
+}
+```
+
+## Copyright
+
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).