CowSwap — a proof of concept dapp (decentralized application), built on Gnosis Protocol v2 (GPv2). The project is offering the decentralized finance community a teaser of GPv2's capabilities by testing future features when placing no gas deals.
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Description of the CowSwap project
CowSwap allows you to trade match of wish (CoW) orders directly. Only the excess order amount, that cannot be settled directly with other CowSwap traders, goes to the underlying AMMs. CowSwap uses batch auctions with uniform clearing prices for all trades in one batch. With a single price, there is no need to order transactions within a single package. Since everyone gets the same asset price, it is impossible to get any value by placing transactions in a specific order.
Some features of the platform:
| 1 | Coincidence of Wishes (CoW) can be explained as an economic phenomenon whereby each of the two parties is holding an item that the other wants, so they exchange those items directly. |
| 2 | The project facilitates CoW between traders and their orders by using batch auctions as the main mechanism. |
| 3 | When two traders own an asset that the other wants, the trade can be settled directly between them without an external market maker or liquidity provider. This leads to better prices for individual traders. |
Packages are decentrally calculated by an external independent party (called "solvers") in the chain. Solvers are individuals or legal entities who provide order settlement solutions that maximize the trade surplus for a given batch. Solvers are encouraged to implement professional transaction management techniques that allow them to set very tight slippage boundaries.
There is currently no plan for a dedicated CowSwap token. At the moment, the value is already fixed by the GNO token, since Cow Swap is built on top of the Gnosis protocol.
Additional data
At the moment, there are no White Paper and RoadMap on the site. Instead, the "About" section is available. You will find information about the project and answers to many questions there.
The community actively maintains social networks:
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