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About Cowswap
CoW Swap is a DEX aggregator that protects traders from MEV (Miner Extractable Value) through batch auctions. Instead of instant execution, orders are collected and settled together, eliminating front-running opportunities.
The protocol's unique Coincidence of Wants (CoW) system matches traders directly when possible, providing peer-to-peer settlement without AMM fees. When direct matching isn't possible, solvers compete to find the best execution.
With the COW token for governance and solver incentives, CoW Swap has become the go-to choice for MEV-conscious traders seeking fair execution.
Key Features
Batch Auctions
Orders settled in batches for MEV protection
Coincidence of Wants
Direct peer-to-peer matching
Solver Competition
Solvers compete for best execution
Gasless Trading
Sign orders, solvers pay gas
COW Token
Governance and solver incentives
MEV Blocker
Built-in front-running protection
Use Cases
MEV-Protected Trading
Trade without front-running fear
Gasless Swaps
Trade without paying gas upfront
Large Orders
Execute size with batch protection
Solver Integration
Become a solver for rewards
DAO Governance
Vote on protocol with COW
Project Info
Frequently Asked Questions
Traditional DEXs execute instantly, allowing bots to front-run. CoW Swap collects orders into batches, then solvers compete to find optimal settlement. Since all batch orders execute at the same price, there's no front-running opportunity.
When two traders want opposite sides (one selling ETH for USDC, another buying ETH with USDC), CoW matches them directly. This P2P settlement avoids AMM fees and slippage. It's like finding a direct trade partner automatically.
Solvers are specialized actors who compete to execute CoW Swap batches. They find the best routes across DEXs and settle orders. Solvers stake COW tokens and earn fees for winning batches. Anyone can become a solver.
Yes, batch auctions take 1-2 minutes vs instant. This delay enables MEV protection. For most trades, the better execution outweighs the wait. If you need instant execution, use traditional DEXs.
COW is the governance token for CoW Protocol. It's used for voting on protocol upgrades, solver staking, and fee discounts. COW was distributed via airdrop to early users and can be earned through various programs.