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Trade on CowSwap

The Settlement Layer for Decentralized Trading

CoW Protocol lets people swap assets MEV protected at the best exchange rate by leveraging its batch settlement layer built on top of DeFi’s favorite AMMs and DEX Aggregators. Instead of directly executing trades on-chain, users only sign their swap intention and delegate the execution to so-called solvers (aka relayers in other protocols). Solvers bid on the best possible exchange rate in order to win the right to settle trades. By batching multiple trades together in order to create CoWs (Coincidence of Wants), solvers can save on gas costs, AMM fees and execution risk. Therefore CoWs lead to structurally better prices than on any existing DEX aggregator. In the absence of CoWs solvers fall back to using the best possible on-chain route, by comparing quotes from leading aggregators.

Batch Settlement Example
  1. Trades: 4
  2. Saved fees: $1,392
View on Etherscan
Full CoW
Partial CoW
No CoW

Traders swapped 99.39% peer-to-peer, while the remainder was executed on Sushiswap

If they had traded by themselves, they would have paid $1,396 in liquidity fees in Sushiswap; instead they paid 8$.

Partial CoW
A fast growing protocol

A fast-growing trading protocol

Trade on CoW Protocol for
better prices, gas cost savings and extra secure MEV protection View analytics

$4B+Total Volume
165K+All Time Trades
$27M+Surplus generated for users
Meta DEX Aggregator

More than a Meta DEX Aggregator

  1. Best On-Chain Prices

    By leveraging any on-chain liquidity sources we are able to provide the best on-chain prices.

  2. Professional Transaction Execution

    Meta-transactions ensure that traders do not pay for failed transactions. They also facilitate automatic resubmission of failed orders.

  3. Coincidence of Wants (CoWs)

    CoWs, simply put as peer-to-peer trades, improve the prices by reducing the need for liquidity pools. This saves the traders money spent on protocol fees, slippage, and gas fees.

  4. MEV Mitigation

    Trades are protected against MEV in multiple layers: via Coincidence of Wants (CoWs) and leveraging both Flashbots Protect RPC and the Eden Network.

  5. Same Block, Same Price

    All trades within the same block are guaranteed to receive the same price regardless of their execution order.

  6. ETH-less Trading Experience

    Traders pay fees in their sell tokens. No need to spend your precious ETH.

The life cycle of a CoW order

The protocol improves prices for traders by batching trades, finding Coincidence of Wants (CoWs)
and tapping into all on-chain liquidity, including aggregators. Read More

Get a price quote

Example, how to get a price and fee quote for selling 10 ETH for USDC.

curl 'https://api.cow.fi/mainnet/api/v1/quote' -H 'Content-Type: application/json' -d '{
 "kind": "sell",
 "sellAmountBeforeFee": "10000000000000000000",
 "sellToken": "0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2",
 "buyToken": "0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48",
 "from": "0xAb5801a7D398351b8bE11C439e05C5B3259aeC9B",
 "receiver": "0xAb5801a7D398351b8bE11C439e05C5B3259aeC9B",
 "appData": "0x0000000000000000000000000000000000000000000000000000000000000000",
 "validTo": 2524608000,
 "partiallyFillable": false

Plug-n-play trading protocol with just a few lines of code

Directly interact with the CoW protocol to place, manage and settle your orders through a documented API interface.

  1. Fetch Quotes.
  2. Create and cancel limit orders.
  3. Manage orders across Ethereum, Rinkeby and Gnosis Chain.
Guardian in the dark forest

Your Guardian in the Dark Forest

Join the CoWmunity

Learn more about CoW Protocol, chat with the team, others in the community, and have your say in shaping the future of decentralized finance.

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