CoW Protocol December 2022 Highlights
Welcome back to another CoW Update, where we break down the most notable developments of the last few weeks at CoW Protocol.
- For the month of December, CoW Protocol handled a volume of $645M, with the total amount of surplus generated for that month was $2.2M
- In regard to exciting news, CoW Protocol had a hectic month with two MAJOR launches 🚀🐮 with Limit Orders, and Native ETH Flow!
- The exciting news does not end with product updates. Additionally, in December, CoW Protocol added a new partnership by having Shapeshift integrate CoW Protocol
- We made key hires across biz dev, engineering, and ops — and we’re still hiring even more core team members! Find our latest job openings at https://cow.fi/careers
In December, CoW Protocol settled a total of $645M
This month, the top 3 batches to highlight are the following:
- Batch with the highest % of CoW trades (Transaction details): The Batch Total volume was $198,528.73, and it was created by three traders who were perfectly CoWed for 99.6% of their volume. One trader was selling USDC for DAI and another trader was selling DAI for USDC
- Batch with the highest Volume in it (Transaction details): The Batch Total volume was $9,773,653.18M and it was created by a single trader who was swapping USDC to WBTC
- Batch with the highest amount of surplus (Transaction details): The Batch Total volume was $2,376,900 and it was created by a single trader who was swapping APE to ETH. This trader achieved the largest surplus for the month of December, by getting $48,721.50 extra (2.04% surplus)
During the month of December, the top 10 traders have traded a total of $21M
In the table below you can see the # of trades they have executed as well as the total volume for all their trades. Our most active trader made a whopping 668 (!!!) trades with CoW Protocol in December.
In December, we saw two new external teams add a new solver to our staging and production environment. These solvers are named Quasilabs and Raven, and the CoW Protocol team is looking forward to seeing how they perform in the competition.
Looking at this table, we can see that on average, for the month of December Solvers were able to generate a total of $2.2M, which all traders got to enjoy in their pockets.
In regards to the Solver Statistics, one can find all sorts of information in the following table like total value settled, number of batches solved, trades and surplus. The highest generated surplus by a solver was $691K.
It has been a relaxed month in terms of governance!
This month was all about the holidays and our CoWs were busy wrapping up presents
This month, there were two new proposals asking for feedback before they move into the next phase, a final CIP, and one even made it to voting before EOY.
- CIP-17: Making slippage symmetric was moved for voting: proposes that the protocol treats slippage incurred by solvers symmetrically; in the case of negative slippage, a solver would be penalized with an amount equal to the negative slippage incurred (as is the case now), while in the case of positive slippage, the protocol would reimburse the solver with an amount equal to the positive slippage generated
- CIP-Draft: Karpatkey DAO Proposal to Create a Core Treasury Team: proposal to have KarpatkeyDAO create, train, support, and audit a Core Treasury Team within CoW DAO that would work jointly with KarpatkeyDAO to develop CoW DAO’s treasury, allowing CowSwap to efficiently provide its own liquidity, fund its operations, development, and evolution while optimizing yield for idle funds
If you are interested in submitting a proposal to the CoW DAO, make sure to check the following template.
- CoW Protocol allows anyone to experiment with automated trades onchain!! Eg, every time a contract accumulates at least x ETH, trigger a swap for ETH-USDC
- CoW Protocol was excited to announce that @ShapeShift integrated with CoW, providing its users with the best prices and protection from MEV in Ethereum
- New significant updates were made to the CoW Swap UI!. It was decided to abandon the hard outlines in our core swap module, in favor of a sleeker new experience
- Our friends at Gnosis Chain merged! Congratulations to everyone involved :)
- CoW said hello to the most UN-limited limit orders in DeFi. Limit orders from CoW Protocol are officially live!
CoW Swap Limit Orders Launch
Introducing surplus-capturing limit orders from CoW Protocol, now accessible through the CoW Swap UISurplus-capturing…
- CoW Protocol and Yearn Finance held one of a heck of a CoWmunity call, where Yearn shared the alpha that all vaults will go through CoW Protocol. If you missed it, listen to the recording
- CoW Protocol launched a new feature to allow CoW Swap traders to swap ETH natively without having to wrap it
- Christmas(Easter)Egg was deployed. CoW Swap trades were able to enjoy a new Christmas UI designed specifically for the holidays!
- 2022 was an incredibly successful year for @CoWSwap, read the highlights of what the protocol achieved throughout the year
The backend team has been working hard to improve the product infrastructure. In December we:
- Added support for paying ETH to smart contract wallets. (Ie buying native ETH (not WETH) with Safe.)
- Restarted solver + driver colocation for development from pre-limit order
- Made small fixes and improved metrics for limit orders feature in preparation for the launch
- Launched support for limit orders
- Launched support for native ETH sell orders
The frontend team has been pushing hard for several improvements in the UI front, as well as the overall UI infrastructure. In December we:
- Deployed a first version of Limit orders on barn.cow.fi
- Released the new CoW Swap design
- Launched support for limit orders with a completely new independ UI
- Launched support for native ETH sell orders
- Deployed a new version of the UI with a Christmas-Holiday theme!
Open Job Positions
The CoW Protocol team is currently looking to hire:
CopywriterRemote — Lisbon — Berlin
Data Engineering Team LeadRemote — Lisbon — Berlin
Mechanism Design Research EngineerRemote — Lisbon — Berlin
Senior Frontend Engineer (React.js/Web3)Remote — Lisbon — Berlin
Name Your RoleRemote — Lisbon — Berlin
For more information on our latest job openings, visit: https://cow.fi/jobs
That’s all for December — the January update will be here before you know it. 👋
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.
Check out our website https://cow.fi/
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