what's cowswap?
CoW Swap is an intent-based DEX aggregator on Ethereum and beyond, using batch auctions and peer-to-peer matching to deliver optimal swap prices while protecting users from MEV attacks and slippage. Powered by the CoW Protocol, it enables gasless orders settled by solvers, fostering a secure, efficient trading environment. The platform emphasizes user protection through coincidence-of-wants (CoW) mechanisms, reducing fees and risks in DeFi.
Cowswap attacked via custom recipient address vulnerability and UI/DNS compromise.
contract
ethereum
xdai
base
polygon-pos
arbitrum-one
Experienced an attack where the attacker exploited a vulnerability related to custom recipient addresses on trades.
Paused backend, APIs, and swap endpoints after DNS hijacking compromised UI and DNS on April 14, 2026, identified by Blockaid; advised users to revoke approvals made after 14:54 UTC and avoid all interactions. Llamaswap users not impacted.
Featured on r/Base subreddit with explanation of MEV-protected swaps and intent-based trading.
Integrated with Auto (autodotfun_) to provide MEV-protected swaps, limit orders, and cross-chain swaps within the Auto platform.
Integrated with Lido Finance to route fast swaps through CoW Protocol, enabling instant liquidity for unstaking across ETH, WETH, USDC, USDT, USDS, and WBTC without withdrawal queues.
Replaced Velora (previously Paraswap) as the swap provider for Aave Labs, resulting in a sharp drop in fees for Velora.
Built CoW Protocol, mentioned in a Bankless tweet highlighting Gnosis's track record alongside Safe multisigs, Conditional Tokens format, Gnosis Chain, and Gnosis Pay as examples of credible infrastructure development.
Opened CIP-85 governance vote on March 31, 2026, concluding April 7, 2026, to overhaul solver rewards for liquidity and execution quality.
Joined the Ethereum Economic Zone initiative alongside Ethereum Foundation, Safe, Aave, Spark, Centrifuge, Linea, and other protocols to un-fragment the Ethereum ecosystem.
Launched a new Solvers page displaying solver teams and supported networks information.
Included in Grayscale Research's Q1 2026 Top 20 list in the Financials sector, based on volatility-adjusted returns, with a market cap of $0.1B.
Integrated with ENS DAO treasury permission system via Zodiac Roles Modifier for whitelisted GHO and FLUID token trading, supporting Karpatkey's non-custodial operations alongside Aave and Fluid protocols.
Connected to Bitget Wallet's liquidity network, with Bitget Wallet becoming a CoW Protocol solver, enabling access to CoW Swap's MEV protection for Bitget Wallet's 90M+ users.
Supports trading of newly released assets from Ondo Finance through CoW Protocol.
Collaboration with IRS is scheduled to launch soon.
Processed a $50.4M USDT to AAVE swap on Ethereum, generating $619K in protocol fees.
Aave refunded $600K in fees on March 13, 2026, for a $50.4M aEthUSDT to AAVE swap with 99% slippage from a March 12, 2026 sandwich attack using its integrated swap widget.
Proposes CIP-84 affiliate program rewarding new wallet trading volume, paying referrers USDC weekly on-chain with no application requirements; voting ends 2026-03-12.
Provides deep liquidity for EURe/USDC trading pairs on Ethereum, enabling seamless swaps of 100,000 USDC into EURe with minimal slippage.
Integrated with ArcadiaFi for LP automations, enabling reward token compounding, profit-taking in any token, stop losses, and debt repayment with yield via CoW Protocol batch auctions.
A whale purchased over $1.5 million worth of CVX through CoW Swap over a two-day period.
Used by Spark protocol to execute SPK token buyback through TWAP (Time-Weighted Average Price) functionality, with approximately $36K worth (1.84 million SPK tokens) already purchased as of March 7, 2026.
Integrated with xStocksFi for tokenized stock trading, providing onchain liquidity for bToken to xStock swaps on Ethereum Mainnet during Backed's transition.
Coinbase suspended COW-PERP perpetual futures trading on Coinbase Advanced and Coinbase International Exchange on 2026-03-16 at 13:00 UTC with final settlement at $0.24464 USDC.
Integrated with MontraFinance's autonomous quant trading control plane for onchain execution alongside XMTP, x402, and A2A protocols.
Engaged Aragon Project to design a COW Value Distribution Mechanism focusing on how protocol value is captured, managed, and distributed to COW tokenholders.
Vitalik Buterin sold 1,286 ETH (approximately $2.55M) through CowSwap on February 21, 2026.
A team member's X account was compromised, prompting warnings to ignore unexpected messages, token announcements, fundraising requests, or external links from that account.
Deployed COW token on Solana blockchain, enabling cross-chain participation and broader ecosystem access.
Integrated with Tydro on Ink blockchain.
Ranked #10 on CoinMarketCap's Weekly Top Gainers list with a +29.46% price increase.
Integrated into Clawlett agent wallet on Base through the Confidence of Wants (CoW) Protocol for autonomous trading execution optimization.
Processed 73.3 million transactions across 4.6 million users, protecting $365 billion in total trading volume.
Reached 4.6 million users on the platform.
Achieved $365 billion in total volume protected from MEV.
Vitalik Buterin sold 3,100+ ETH via CoW Swap to fund the Ethereum ecosystem.
CoW DAO hires Senior Visual Designer for full-time remote, and Senior Smart Contract Engineer for full-time remote contract.
Reduced fees on correlated asset pairs (including all stablecoin-to-stablecoin transactions) from 2 basis points to 0.3 basis points on 2026-02-03.
Ethereum Foundation converts 5,000 ETH (~$11M) to stablecoins at ~$2,240 per ETH via CoW DAO TWAP from DeFi multisig wallet on April 8-9, 2026, for R&D, grants, and donations.
DAO proposes a 5% base team token allocation, plus up to 10% in performance-based rewards tied to revenue milestones and capped per tranche.
Integrated private swap functionality with RAILGUN_connect, enabling 0zk address interactions using CoWSwap frontend on Polygon in January 2026.
Participated in NEAR Intents Day livestream panel discussion on apps and intents on 2026-01-22.
Listed in DappBay on BNB Chain, increasing visibility on that platform.
Launched on Plasma Network, a stablecoin-native L1 blockchain for real-world payments.
Listed on Kraken exchange in 2025.
Listed on Upbit exchange in 2025.
Listed on Bithumb exchange in 2025.
Listed on AscendEX exchange in 2025.
Partnered with Arcana Network in 2025.
Partnered with Infinex in 2025.
Collaborated with WalletConnect during 2025.
Collaborated with Morpho during 2025.
Collaborated with Palmera DAO during 2025.
Collaborated with Bankr Bot during 2025.
Implemented FCBAs (Frequent Batch Auctions) for fairer execution and better prices in 2025.
Processed $87 billion in total trading volume during 2025, more than double the 2024 total.
Reached trading volume in 45 days equivalent to Polymarket's lifetime volume as of December 2025.
Gnosis Protocol v1 (predecessor to CoWSwap) retains approximately $1.4 million in deposited funds in its contract.
Aave founder Stani Kulechov responds that Aave Labs is entitled to monetize its frontend and earlier revenue sharing was voluntary, while analysis shows ~$200K/week in fees now flow to a separate address instead of the Aave DAO. Concerns expand beyond the CoWSwap integration to other Aave Labs products including vaults, Horizon, and the planned v4 liquidation engine.
Octav integrates CoWSwap directly into its platform, allowing users to access swap functionality without switching tabs.
Aave Labs receives a grant payment for implementing the CowSwap integration on their platform.
CoWSwap's newest budget proposal gets rejected with Gnosis voting no, potentially triggering organizational reform.
Lost $50.4 million on March 13, 2026, from an MEV bot exploit involving Aave and a CoWSwap solver error that selected a $73K liquidity pool for a $50M Aave trade, routing 17.96k ETH through Sushiswap. Published post-mortem.
Following integration, Aave implements 15-25 bps fees on swaps, but the generated revenues do not benefit Aave DAO.
Integration with RiftDex goes live, allowing users to on/off ramp BTC through CoW Swap with up to 52% reduced fees.
CoWSwap integration goes live on ShapeShift, enabling MEV-protected trading portals on the platform.
Liquidity for Ondo Finance RWA tokens on Ethereum improves dramatically, enabling $100k trades with essentially no slippage.
The project announces remote hiring for two positions: Research Team Lead and Senior Front-end Engineer.
Hiring for a Research Team Lead role on a remote basis.
The core team requests $34 million in USDC and COW tokens for 2026 operations.
Among the top advertisers on Base's advertising model, which has generated $57K in total revenue so far.
Hiring for a Senior Front-end Engineer role on a remote basis.
Deepened Aave integration with MEV-protected swaps and intent-based flash loans, powering swap, collateral rebalancing, and debt repayment. Launched swap and bridge functionality for multisig users, including DAOs and teams managing shared treasuries.
The protocol goes live on Linea L2, enabling gas-free trading and advanced order functionality powered by the solver network.
The protocol adds NEAR Protocol Intents as one of its main cross-chain providers for seamless execution across intent-based systems.
The protocol achieved $9.7B in trading volume on Ethereum in November.
CoWSwap is hiring a Senior Front-end Engineer for a remote position.
Partial approvals for market orders are now live, allowing users to approve only the exact amount needed for trades instead of maximum approvals.
Team member Odran Thomazo discusses MiCA and Genius Act regulatory frameworks and their impact on the DeFi landscape.
P/S ratio stands at 3.37 per DeFiLlama data, placing the protocol in mid-range valuation compared to other DeFi platforms including Hyperliquid, Jupiter, and ORE.
GnosisDAO community has an active proposal to terminate treasury manager kpk due to poor performance, excessively high management fees, and lack of transparency, with the DAO treasury standing at approximately $300M excluding GNO tokens.
Limit orders now display estimated fill price before commitment, providing users with clear price expectations upfront.
CoW DAO team member Anna M. George speaks at Aave's DeFi Day Del Sur event about developments in DeFi.
Co-Founder Anna George presents at Ethereum Day on "Making DeFi Truly Cross-Chain," sharing the vision to create one single auction that unifies liquidity orders across all different networks.
Gnosis unifies its products (Pay, Chain, Personal, Business) with CoW Swap and Safe as foundational infrastructure powering the ecosystem.
CoW Swap is hiring a Senior Backend Engineer focused on Solana development.
Partial approvals for market orders go live, allowing users to approve only the specific amount needed for swaps and permits instead of maximum approvals.
CIP-74 governance proposal is live for voting, proposing updates to solver rewards mechanism.
ShapeShift now uses CoW Swap to power limit orders on its platform.
CoW Swap now supports trading across 8 blockchain networks: Ethereum, Gnosis, BNB, Lens, Avalanche, Polygon, Arbitrum, and Base.
CoW Protocol records over $10 billion in mainnet volume for the third consecutive month.
CoW Swap now leads in trading volume, overtaking previous leaders Uniswap and 1inch.
CoW Swap now powers limit orders on Aave, the world's largest decentralized crypto lending platform.
The platform freezes two liquidity pools (EURe/sDAI and GNO/osGNO) and partially halts Gnosis Chain bridging in response to a Balancer v2 exploit, with trading still available via UniV3 pools.
CoW AMM confirms users are not impacted by reports of a Balancer v2 pools exploit, stating their implementation of Balancer's technology is isolated and secure.
The platform is proposed as the execution venue for Chainlink buybacks due to MEV protection and surplus benefits, with previous buyback services confirmed for Rollbit.
The platform opens a Senior Backend Engineer position focused on Solana development for remote hiring.
CoW Swap launches on BNB Chain, expanding its DEX operations to the BNB ecosystem.
Three RFPs launch to upgrade the CoW Protocol Playground, the testing ground for solver teams, eliminating expensive archive node requirements and enabling local development power, with a November 17 application deadline.