From 8d5f2485dcc19d3427a75665a502ccc68da90ac5 Mon Sep 17 00:00:00 2001 From: odranme <149141580+odranme@users.noreply.github.com> Date: Tue, 28 Jul 2026 10:22:15 +0100 Subject: [PATCH 1/3] Update README.mdx Intro --- docs/cow-protocol/README.mdx | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/docs/cow-protocol/README.mdx b/docs/cow-protocol/README.mdx index d61cb6008..ccf46d6dc 100644 --- a/docs/cow-protocol/README.mdx +++ b/docs/cow-protocol/README.mdx @@ -1,6 +1,6 @@ # CoW Protocol -CoW Protocol is a meta-DEX aggregation protocol that leverages [trade intents](/cow-protocol/concepts/introduction/intents) and [fair combinatorial batch auctions](/cow-protocol/concepts/introduction/fair-combinatorial-auction) to find users better prices for trading crypto assets. +CoW Protocol is an intent-based trading protocol whose off-chain services run fair combinatorial auctions in which independent solvers propose settlement solutions using on-chain liquidity and other available inventory. ![What is CoW Protocol](/img/what-is-cow-protocol.png) From bf7927ffd43c3f6e133de3091cc2fac25dcb0ccc Mon Sep 17 00:00:00 2001 From: odranme <149141580+odranme@users.noreply.github.com> Date: Tue, 28 Jul 2026 10:24:57 +0100 Subject: [PATCH 2/3] Update additional-benefits.md Overstatement --- docs/cow-protocol/concepts/benefits/additional-benefits.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/docs/cow-protocol/concepts/benefits/additional-benefits.md b/docs/cow-protocol/concepts/benefits/additional-benefits.md index 028c6b5ed..b42f601e8 100644 --- a/docs/cow-protocol/concepts/benefits/additional-benefits.md +++ b/docs/cow-protocol/concepts/benefits/additional-benefits.md @@ -7,7 +7,7 @@ sidebar_position: 4 CoW Protocol's [intent-based trading model](/cow-protocol/concepts/introduction/intents) and [its auction mechanism](/cow-protocol/concepts/introduction/fair-combinatorial-auction) that allows for batching provide a number of benefits, including support for expressing any intent, MEV protection, and price improvement. There are also several additional benefits unique to CoW Protocol that every order inherits: -- Gasless trades (users pay settlement fees in their sell token; settlement fees can be lower than gas fees if the trade is included in a batch) +- Gasless order signing and submission for standard ERC-20 orders (separate approval or other setup transactions may still require gas) - No fees for failed or cancelled orders (most exchanges make users pay gas fees regardless of whether their order executes or not) - Order settlement at Ethereum Best Bid Offer or better - Support for placing multiple orders at once From c5944816fb98f3e450c4462fd72af9700b6acba4 Mon Sep 17 00:00:00 2001 From: odranme <149141580+odranme@users.noreply.github.com> Date: Tue, 28 Jul 2026 10:29:22 +0100 Subject: [PATCH 3/3] Update mev-protection.md Overstatement --- docs/cow-protocol/concepts/benefits/mev-protection.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/docs/cow-protocol/concepts/benefits/mev-protection.md b/docs/cow-protocol/concepts/benefits/mev-protection.md index 78c8ff2b1..aa91a3e4d 100644 --- a/docs/cow-protocol/concepts/benefits/mev-protection.md +++ b/docs/cow-protocol/concepts/benefits/mev-protection.md @@ -11,7 +11,7 @@ MEV, or maximal extractable value, is a form of price exploitation that affects MEV attacks happen on most major exchanges. However, CoW Protocol's unique trading model protects users from MEV in three main ways: - **Uniform Clearing Prices**: If the same token pair (such as ETH-USDC) is traded multiple times in the same [batch](../introduction/fair-combinatorial-auction), the assets will clear for the same market prices for each trade in the same direction. - This mechanism is called a "uniform directed clearing price" and it makes transaction order irrelevant, so MEV bots cannot re-order trades in order to extract a profit. + This mechanism is called a "uniform directed clearing price" and it Within each selected solution, uniform directed clearing prices reduce order-dependent price differences for same-direction trades, subject to the documented hook exception; they do not create an across-solution guarantee.. Uniform directed clearing prices enable the Ethereum DeFi ecosystem to establish consistent prices for identical directed token pairs within the same block, addressing the inconsistency caused by the design of Constant Function Market Makers (CFMMs) like traditional Uniswap liquidity pools. - **Delegated Trade Execution**: On CoW Protocol, independent bonded [solvers](../introduction/solvers) compete to find and submit settlement solutions for batches of user-signed intents. Because users do not submit their swaps directly on-chain, they are not directly exposed to public mempool MEV in the same way as ordinary on-chain swaps. The winning solver must provide at least the price accepted by the user’s signed intent, and bears the risk of sourcing a valid settlement under those constraints.