CoW DAO Monthly Recap: March 2026
March moved fast. New integrations, a governance win, a transparency moment on tokenomics, and a platform upgrade - here's everything that happened across the CoW ecosystem this month.
Let's get into it.
Product & Integrations
Arcadia Integration: CoW Protocol Powers LP Automation
CoW Protocol is now powering swaps for Arcadia, bringing intent-based execution to LP automation strategies. For liquidity providers, this means better routing and MEV protection baked directly into their automation workflows - not bolted on after the fact.
Bitget Wallet Integration Ships
CoW Swap is now accessible through Bitget Wallet, one of the fastest-growing wallets in the space. More wallets, more users, more protection. Simple as that.
Solvers Page Launches on Explorer
We launched a dedicated Solvers page on Explorer, surfacing real-time information on solver teams, their networks, and deployment status.
This is transparency in action: you can now see exactly who is competing to give you the best execution on every trade.
Docs Go LLM-Ready
Our documentation is now structured for LLM consumption at docs.cow.fi/llms - making it meaningfully easier for developers and AI tools to build on, integrate with, and reason about CoW Protocol.
If you're building with AI agents or intent-aware tooling, this one's for you.
CoW Swap v3.0.5 & Explorer 4.0.5 Released
Several releases shipped across CoW Swap and Explorer this month. Highlights include:
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Orderbook API version now visible in the footer
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BTC/Solana address handling added (not yet enabled)
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Reworked address handling and bug fixes throughout
Full changelogs:
Governance
CIP-84: CoW Swap Affiliate Program Framework - Approved ✅
The CoW Swap Affiliate Program passed governance last month month. The framework creates a permissionless referral structure with clear reward mechanics and governance oversight - built for growth, designed to last.
Watch this space.
Tokenomics Transparency
Setting the Record Straight on Buybacks
The community had questions about our buyback program. We answered them - publicly and in full.
Here's the short version:
CIP-38 mandated converting protocol fees into $COW to offset solver emissions, targeting net zero. Our Treasury Committee set the operational target at weekly emissions plus a 20% buffer.
The reality? We've consistently gone further than that.
Since April 17, 2024:
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Buybacks executed: 74.6M $COW
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Solver emissions: 61.7M $COW
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Net emissions: -12.9M $COW
Emissions are negative. The gap has grown every quarter.
When we said "aiming for net zero," that was the mandate. The operational reality has been better. That's something we should have been saying louder - and we will going forward.
A broader value distribution framework is coming in the next few weeks. Treasury allocation targets are published in KPC communications and managed by the Treasury Committee.
Thanks to everyone in the community who pushed on this. Accountability like this is what makes CoW DAO stronger.
A trading incident post-mortem
A trading incident occurred this month, and we published a full post-mortem with transparent communication across all channels. You can read the full breakdown here.
We believe in saying what happened, why it happened, and what we're doing about it. That commitment doesn't waver.
Community & Visibility
The herd keeps growing. March also saw continued growth in teams building on top of CoW Protocol, using intents, solver competition, and MEV-protected execution as core infrastructure for their products.
Team
We've welcomed a new Research Team Lead to the herd this month. 🐮
And we're still hiring. Open roles:
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Integration Engineer
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Lead Visual & Brand Designer
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Senior Backend Engineer (Rust)
Not just a job - an opportunity to shape the infrastructure that protects DeFi users at scale.
👉 Careers: https://cow.fi/careers
Know someone great? Refer them and earn up to $6,000 in USDC or USD.
👉 Refer-to-earn: https://cow.fi/careers/refer-to-earn
March was a month of shipping, transparency, and governance wins. The protocol keeps getting stronger - and so does the community around it.
See you in April.
CoW DAO 🐮
