CoW Protocol October 2023 Highlights
TL;DR
- During the month of October, CoW Protocol handled a total volume of $998M, and generated a surplus of $6.3M
- In exciting news, CoW Protocol launched fully gasless transactions, dressed up for Halloween, got some love from Binance Research, and much more
Protocol Stats
This month, CoW Protocol settled a total of $998M.
The top 3 batches worth highlighting are the following:
Batch with the highest % of CoW trades (Transaction details): The total batch volume was $3,078,084.40, and it was created by two traders who were perfectly CoWed for 51% ($1,576,169.65) of their volume. One trader was buying DAI for FRAX, and the other trader was buying FRAX for DAI.
Batch containing the highest volume (Transaction details): The total batch volume was $9,150,950.72 and it was created by three traders who were swapping DAI to USDC, DAI to ETH, and ETH to JOE.
Batch with the highest amount of surplus (Transaction details): The total batch volume was $9987,355 and it was created by a single trader who was swapping USDC to ETH. This trader achieved the largest surplus for the month of October by getting 62 ETH, which was roughly $100K (11% surplus), extra.
During the month of October, the top 10 traders traded a total of $71M.
In the table below you can see the total volume for this month’s biggest trades. The most active trader executed a whopping $66M in trades with CoW Protocol this month.
Solvers
In October, solvers generated a total of $6.3M in surplus, which is money in the pockets of traders.
Below you can find a breakdown of how each solver performed in October.
Governance
It has been a hectic month in terms of governance. CoW DAO executed 3 proposals! After a relaxing month in September, the CoWs came back in force for October 💪.
Executed Proposals
This month the DAO executed three important proposals:
- CIP-31: Change CoW DAO’s (cow.eth) Snapshot space settings (As well as CIP-31.2: Change CoW DAO’s (cow.eth) Snapshot space settings)
- CIP-32: MEV Blocker Funding
- CIP-33: Should the CoW Treasury Core unit be added to the MEVBlocker Rebates Safe?
Draft Proposals
This month, there was one new proposal asking for feedback before moving into the next phase, a final CIP, in its current form:
Make sure to read the CIP draft proposal and leave comments — your feedback is highly appreciated and helps move these important topics forward. If you are interested in submitting a proposal to the CoW DAO, make sure to use the following template.
CoWmunity News
- Announced gasless approvals, reducing CoW gas emissions and enabling fully ETH-less trading for a wide range of tokens
- For Halloween, the CoW Swap website got a spooky makeover including a custom theme, Halloween-themed fortune cookies, and a special Layer3 Quest
- Stackly launched a DCA solution built on top of CoW Protocol to Mainnet
- CoW Swap received coverage in a Binance Research report on intents
- The team hosted an Intent.wtf Twitter space with Particle Network and the Enso solver
- The team hosted a happy cow-hour on Discord unveiling the new solver-driver architecture. As a special community treat, the team waived all CoW Swap fees for the duration of the hour
- A grant proposal for the development of a Milkman Safe App passed in voting on Snapshot
- The CoW Protocol team published several articles to the blog: Announcing Gasless Approvals on CoW Swap, What is Backrunning? — MEV Attacks Explained, and Understanding Order Flow Auctions
Open Job Positions
The CoW Protocol team is currently not hiring
About CoW DAO
CoW DAO is an open organization of developers, traders, market makers and many more community members aligned with its vision. CoW DAO is focused on fair and decentralized trading systems — in particular, building, maintaining and advancing the CoW Protocol. CoW Protocol technology powers a network of traders and solvers, enabling trustless and efficient peer-to-peer trading. Leveraging batch auctions as a key concept uniquely positions CoW Protocol as native trading infrastructure for discrete-time settlement layers like Ethereum and enables fair and accessible trading to its users.
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