CoW DAO
Headquarters
Lisbon Portugal
About us
To create a fairer, more-protective financial system by building products that enable users to exchange digital assets in the most user-friendly and price-effective way possible.
Built as a decentralized trading protocol for Ethereum, CoW Protocol protects users from MEV attacks through intent-based batch auctions. Users sign trading intents rather than executing transactions directly, and professional "solvers" compete to find optimal execution paths across on-chain liquidity, private market makers, and peer-to-peer matching. The protocol eliminates frontrunning through uniform clearing prices and has become one of the largest intent-based exchanges by volume. CoW DAO governs the protocol as an open collective — anyone can participate by holding COW tokens and voting on proposals. The organization maintains over 100 open-source repositories and funds mission-aligned projects through its grants program.
Products
The core offering is CoW Protocol — an intent-based DEX aggregation protocol using batch auctions and competing solvers. CoW Swap serves as the primary trading interface, while CoW AMM protects liquidity providers from loss-versus-rebalancing. MEV Blocker provides transaction protection and integrates across the Ethereum ecosystem. Recent additions include Atomic Bundles for complex DeFi operations and various order types (market, limit, TWAP, programmatic). Developer tools include TypeScript/Python SDKs and REST APIs.
Funding
CoW Protocol raised $23 million in March 2022 from approximately 57 investors, including 1kx, Delphi Ventures, Blockchain Capital, Cherry Ventures, and Dialectic Capital. The fundraising notably included community participants alongside institutional investors. The protocol generated $16.2 million in revenue over the past 12 months, though recent data shows a 51.8% decline in gross revenue over the past 90 days.
Recent news
In June 2026, CoW DAO launched 'Atomic Bundles,' a significant product update that allows developers to execute complex, multi-action DeFi strategies via single signed intents, with early integration by Euler Finance. Additionally, the DAO implemented a new value distribution strategy in May 2026 that includes token buybacks and burns, successfully achieving a net deflationary state for the COW token in the immediate term. The protocol maintains a strong market position, capturing a 16.8% share among DEX aggregators as of May 2026.
Technology
Backend services run on Rust with Tokio for async execution and Axum for HTTP servers. PostgreSQL with sqlx handles persistence, while Alloy manages Ethereum interactions. Infrastructure uses Pulumi for deployment on AWS with Docker containers orchestrated by Kubernetes. Monitoring relies on Grafana and Prometheus, with Elasticsearch for logging. The broader codebase includes TypeScript for frontend work, Python for tooling, and Solidity for smart contracts.
Benefits
Fully remote team with optional access to the Lisbon hub. Token compensation aligns you with the protocol's mission, plus flexible work and vacation policies for work-life balance. Conference budget keeps you current with ecosystem developments, while learning and hardware budgets support your growth. Regular team gatherings create connection across the distributed team. On-call production work receives additional compensation. The referral program pays 6,000 USDC for successful hires.