Coincidence of Wants · /kōˈinsədns əv wônts/ · (noun): An economic phenomenon where two or more parties each hold an item the other wants, then exchange directly. Also known as a CoW. 🐮
In crypto, CoWs happen when traders swap assets peer-to-peer, as part of a batch auction.
CoWs provide a number of benefits to traders, including:
💸 Better prices: CoW trades don't pay liquidity pool fees
🤖 MEV protection: CoW trades don't use AMMs to source liquidity
⛽️ Less gas: CoW trades are bundled and occupy less blockspace
And if it wasn't clear yet, Coincidences of Wants are the reason we're called CoW DAO! 🐄
CoWs are an exciting innovation at the forefront of DeFi, enabled by CoW Protocol's batch auctions.
Read more about CoWs here: medium.com/@cow-protocol/what-are-cows-on-cow-swap-e72baaa4678a
CoW DAO
@CoWSwap
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