Upbit, South Korea's largest crypto exchange, announced it will list a new project: Cow Protocol (COW). The event prompted a notable price increase for the token.
Upbit’s COW Listing Details
In its official [announcement](https://upbit.com/service_center/notice?id=4906), Upbit revealed that it will list the following trading pairs for COW: COW/KRW, COW/USDT, and COW/BTC. The trading pairs will be listed at 20:30 South Korean time. COW’s price surged following the exchange’s announcement.
COW Price Is UP by 30% Today
At the moment of writing this article, COW is trading above $0.42 and the coin is up by 30% for the day. Before Upbit’s announcement, COW was trading at $0.29 and its price spiked above $0.46 afterward, reaching a market cap above $192 million. Currently, following a cool-off for the price, the coin has a market cap of almost $174 million.
What is Cow Protocol (COW)?
Cow Protocol claims to be a DeFi innovation, operating on the Ethereum mainnet, defined to optimize trading outcomes for users via a mix of strategies. Instead of directly executing trades on-chain, users can delegate execution to so-called 'solvers', who bid on the best exchange rates. They save on gas costs, AMM fees, and execution risks by batching multiple trades into CoWs (Coincidence of Wants) for better prices. In the absence of CoWs, solvers fall back to using the best on-chain route by comparing quotes from leading aggregators. The COW coin allows holders to govern the Cow Protocol ecosystem via CowDAO and receive fee discounts when trading on CoWSwap.
The announcement of Cow Protocol’s listing on Upbit garnered investor attention, leading to a price rise for COW. The project offers innovative DeFi solutions and benefits for its users.
