CowSwap
Swap any ERC-20 token at the best possible rate — with MEV protection built into the core, not added as an afterthought.
Begin TradingNo sign-up required. Just connect your wallet and trade.
Why CowSwap
Most swaps on Ethereum end up costing more than the displayed quote — MEV bots siphon value before your transaction ever lands. The CowSwap platform was engineered to prevent exactly that. Here is what sets it apart:
Genuine MEV protection
Sandwich attacks and front-running are stopped at the architectural level. Solvers compete off-chain; your order only touches the blockchain once the outcome is secured. You keep what you earn.
Direct peer-to-peer matching
When two traders need opposite sides of the same pair, CowSwap's protocol connects them directly. No AMM fees, no slippage from pool depth. It simply works.
Pooled liquidity from everywhere
Uniswap v3, Curve, Balancer, and many more — all evaluated every batch. You receive a single quote that reflects the whole on-chain market, not just one pool.
Gas paid in your sell token
Transaction fees come out of the token you are selling. You do not need ETH on hand to cover EIP-1559 base fees — a real convenience, especially for newer users.
How it works
The CowSwap settlement process works differently from a typical AMM. Here is the condensed version — each step completes quickly, usually within one Ethereum block.
You sign an off-chain order specifying the token you want to sell, the token you want to receive, and your minimum acceptable price. Nothing reaches the blockchain at this stage.
A network of independent solvers — specialized routing engines — receive your order and compete to find the best fill. They scan Polygon-compatible routes, Gnosis Chain bridges, and Ethereum mainnet pools all at once.
Orders from many traders are bundled into one on-chain transaction. CoW (Coincidence of Wants) matches execute first; remaining volume is routed to AMMs. One batch means lower aggregate gas costs.
If solvers secure a price better than your limit, the extra flows directly to you — not to the protocol. The team behind CowSwap calls this "Coincidence of Wants surplus."
All done. Your wallet reflects the updated balance. You can verify the settlement on Etherscan or through the CowSwap explorer. Have questions? Check the full Q&A.
Core features
Limit orders
Specify a target price and step away. Your order stays active until the market reaches your level or the expiry time passes — no gas wasted on failed attempts.
TWAP orders
Average into any token over hours or days. The protocol splits your position into timed segments, each filled at the best available rate within its window.
Token approval management
Partial approvals let you cap your exposure precisely. You decide exactly how much a contract may access — a sensible safeguard that most DEXs still overlook.
Custom hooks
Advanced users can attach pre- and post-swap hooks to their orders. Chain a swap with a lending deposit or an NFT purchase in a single atomic transaction.
Referral programme
Share your referral link and earn a share of fees generated by traders you introduce. The rewards system is integrated directly into the swap interface — find the Refer button at the top.
Multi-network support
Trade on Ethereum mainnet and Gnosis Chain today. The solver framework powering CowSwap is built to expand — Forge-based testing has already validated the contracts across several testnets.
Open-source contracts
Every contract is verified on-chain and the source is publicly available on GitHub. You can read precisely what happens to your tokens — no hidden logic.
CowSwap by the numbers
These figures are approximate and reflect cumulative activity since the protocol launched in 2021. They shift daily — typically upward.
Interested in a deeper look at the technology? Read about CowSwap's protocol design.
FAQ
Concise answers to the most common questions. For a more detailed breakdown, visit the complete Q&A page.
How do I start trading on CowSwap?
Connect any ERC-20 compatible wallet, choose your sell and buy tokens, enter the amount, and confirm. CowSwap takes care of everything else — routing, MEV protection, and settlement — with no extra steps required from you.
What is CowSwap and how does it differ from other DEXs?
CowSwap is a meta-DEX aggregator built on CoW Protocol. Rather than routing directly to AMMs, it batches orders and settles them through a competitive solver network, frequently matching trades peer-to-peer and cutting unnecessary gas costs from EIP-1559 transactions.
Is CowSwap safe and has it been audited?
Yes. The smart contracts have been reviewed by several independent security firms. The protocol has processed billions in volume since 2021 without a contract-level exploit. DeFi always involves risk — consult the official docs and trade responsibly.
Can I use CowSwap if I am on Polygon or another L2?
CowSwap currently supports Ethereum mainnet and Gnosis Chain. The solver architecture is built to scale to more networks. In the meantime, bridge your tokens to a supported chain and you are ready to trade.
Why should I choose CowSwap over a standard DEX aggregator?
Most aggregators still leave you exposed to sandwich attacks. CowSwap's protocol uses batch auctions and Coincidence of Wants matching — solvers fight for your best price while front-running is structurally eliminated. You get real, built-in protection.
What tokens and networks does CowSwap support?
Thousands of ERC-20 tokens on Ethereum mainnet and Gnosis Chain. Liquidity is sourced automatically from Uniswap, Curve, Balancer, and more. If a token has on-chain liquidity anywhere, CowSwap can typically locate it. Learn more about decentralized exchanges on Wikipedia.