CoW Protocol is a decentralised trading protocol focused on providing efficient and MEV (Miner Extractable Value) protected trades. CoW Protocol utilises batch auctions and conditional orders to optimise trade execution and aims to provide the best possible prices for users.
CoW Protocol's core innovation is its use of "CoWs" (Coincidence of Wants), where multiple orders are matched directly peer-to-peer or through batch auctions before routing to external liquidity. This mechanism allows for efficient price discovery and reduces the need for reliance on traditional order books. The protocol is governed by its community and aims to create a fairer and more efficient decentralised trading experience.
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