From dbfae7e73be96732416fd40b2e083d2e491d3b5f Mon Sep 17 00:00:00 2001 From: gogonimago <78171199+gogonimago@users.noreply.github.com> Date: Sat, 3 Feb 2024 00:04:47 -0800 Subject: [PATCH 1/8] Update additional-benefits.md --- .../concepts/benefits/additional-benefits.md | 16 +++++++++++++++- 1 file changed, 15 insertions(+), 1 deletion(-) diff --git a/docs/cow-protocol/concepts/benefits/additional-benefits.md b/docs/cow-protocol/concepts/benefits/additional-benefits.md index 834eb1a2..76142b1c 100644 --- a/docs/cow-protocol/concepts/benefits/additional-benefits.md +++ b/docs/cow-protocol/concepts/benefits/additional-benefits.md @@ -4,10 +4,24 @@ sidebar_position: 4 # Additional benefits -CoW Protocol's [intent-based trading model](../introduction/intents) provides a number of benefits, including support for expressing any intent, MEV protection, and price improvement. There are also a handful of additional benefits unique to CoW Protocol thanks to its specific architecture: +CoW Protocol's [intent-based trading model](../introduction/intents) and [batch auctions mechanism]((../introduction/batch-auctions)) come together to provide provides 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) - 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 - Slippage protection on all orders + +The protocol's architecture also provides important "passive" benefits and supports niche trading use-cases: +- Minimized smart contract risk as solvers take on the exposure to all on-chain AMMs +- Support for tapping straight into exotic tokens as solvers abstract away intermediate steps like depositing, minting, and staking +- Tighter spreads from private market makers thanks to fast settlement of off-chain orders +- Increased gas efficiency as all trades are credited directly to user accounts without withdrawals or deposits into an exchange contract +- Increased security as funds can only be transferred if a trader has approved the GPv2 contract and signed an order to sell the given token for another +- A guarantee that the limit prices and amounts of any given signed order will always be satisfied +- Signed orders have an expiry date and they can be cancelled on-chain, preventing exploits where orders can be re-executed by relying on old approvals +- Only solvers subject to slashing can execute the batch auction settlement +- In the case of multi-signature wallets, the execution quote is determined with the first signature, guaranteeing a minimum price regardless of when everyone else signs (or the transaction expires at no cost) +- Fair, decentralized settlement in which an open competition for order matching replaces a central operator or a constant function market maker + From d4d82d216521175f343a6b648862b12903873577 Mon Sep 17 00:00:00 2001 From: gogonimago <78171199+gogonimago@users.noreply.github.com> Date: Thu, 15 Feb 2024 20:07:48 -0700 Subject: [PATCH 2/8] Update additional-benefits.md --- 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 76142b1c..b04ffb43 100644 --- a/docs/cow-protocol/concepts/benefits/additional-benefits.md +++ b/docs/cow-protocol/concepts/benefits/additional-benefits.md @@ -18,7 +18,7 @@ The protocol's architecture also provides important "passive" benefits and suppo - Support for tapping straight into exotic tokens as solvers abstract away intermediate steps like depositing, minting, and staking - Tighter spreads from private market makers thanks to fast settlement of off-chain orders - Increased gas efficiency as all trades are credited directly to user accounts without withdrawals or deposits into an exchange contract -- Increased security as funds can only be transferred if a trader has approved the GPv2 contract and signed an order to sell the given token for another +- Increased security as funds can only be transferred if a trader has approved the contract and signed an order to sell the given token for another - A guarantee that the limit prices and amounts of any given signed order will always be satisfied - Signed orders have an expiry date and they can be cancelled on-chain, preventing exploits where orders can be re-executed by relying on old approvals - Only solvers subject to slashing can execute the batch auction settlement From a0a6165bb5a93afa195e68158be5082c4f8daaef Mon Sep 17 00:00:00 2001 From: gogonimago <78171199+gogonimago@users.noreply.github.com> Date: Mon, 26 Feb 2024 12:44:17 -0500 Subject: [PATCH 3/8] Update docs/cow-protocol/concepts/benefits/additional-benefits.md Co-authored-by: mfw78 <53399572+mfw78@users.noreply.github.com> --- 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 b04ffb43..40e74db7 100644 --- a/docs/cow-protocol/concepts/benefits/additional-benefits.md +++ b/docs/cow-protocol/concepts/benefits/additional-benefits.md @@ -4,7 +4,7 @@ sidebar_position: 4 # Additional benefits -CoW Protocol's [intent-based trading model](../introduction/intents) and [batch auctions mechanism]((../introduction/batch-auctions)) come together to provide provides a number of benefits, including support for expressing any intent, MEV protection, and price improvement. +CoW Protocol's [intent-based trading model](../introduction/intents) and [batch auctions mechanism]((../introduction/batch-auctions)) come together to 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) From f11f32d686a64cbaf2a498f7f5c5bc61d35c6514 Mon Sep 17 00:00:00 2001 From: gogonimago <78171199+gogonimago@users.noreply.github.com> Date: Mon, 26 Feb 2024 12:44:26 -0500 Subject: [PATCH 4/8] Update docs/cow-protocol/concepts/benefits/additional-benefits.md Co-authored-by: mfw78 <53399572+mfw78@users.noreply.github.com> --- docs/cow-protocol/concepts/benefits/additional-benefits.md | 1 - 1 file changed, 1 deletion(-) diff --git a/docs/cow-protocol/concepts/benefits/additional-benefits.md b/docs/cow-protocol/concepts/benefits/additional-benefits.md index 40e74db7..3c4ad148 100644 --- a/docs/cow-protocol/concepts/benefits/additional-benefits.md +++ b/docs/cow-protocol/concepts/benefits/additional-benefits.md @@ -22,6 +22,5 @@ The protocol's architecture also provides important "passive" benefits and suppo - A guarantee that the limit prices and amounts of any given signed order will always be satisfied - Signed orders have an expiry date and they can be cancelled on-chain, preventing exploits where orders can be re-executed by relying on old approvals - Only solvers subject to slashing can execute the batch auction settlement -- In the case of multi-signature wallets, the execution quote is determined with the first signature, guaranteeing a minimum price regardless of when everyone else signs (or the transaction expires at no cost) - Fair, decentralized settlement in which an open competition for order matching replaces a central operator or a constant function market maker From da69476f6ea0a019b0aec49246d39e9bf937614f Mon Sep 17 00:00:00 2001 From: gogonimago <78171199+gogonimago@users.noreply.github.com> Date: Thu, 29 Feb 2024 13:46:35 -0500 Subject: [PATCH 5/8] Update additional-benefits.md --- 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 3c4ad148..be6ec2a2 100644 --- a/docs/cow-protocol/concepts/benefits/additional-benefits.md +++ b/docs/cow-protocol/concepts/benefits/additional-benefits.md @@ -4,7 +4,7 @@ sidebar_position: 4 # Additional benefits -CoW Protocol's [intent-based trading model](../introduction/intents) and [batch auctions mechanism]((../introduction/batch-auctions)) come together to provide a number of benefits, including support for expressing any intent, MEV protection, and price improvement. +CoW Protocol's [intent-based trading model](../introduction/intents) and [batch auctions mechanism](../introduction/batch-auctions) come together to 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) From 347c93f7816fd467b480c315a2ebddd1f038bd2d Mon Sep 17 00:00:00 2001 From: gogonimago <78171199+gogonimago@users.noreply.github.com> Date: Thu, 29 Feb 2024 13:47:30 -0500 Subject: [PATCH 6/8] Update additional-benefits.md --- 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 be6ec2a2..a6552fd3 100644 --- a/docs/cow-protocol/concepts/benefits/additional-benefits.md +++ b/docs/cow-protocol/concepts/benefits/additional-benefits.md @@ -4,7 +4,7 @@ sidebar_position: 4 # Additional benefits -CoW Protocol's [intent-based trading model](../introduction/intents) and [batch auctions mechanism](../introduction/batch-auctions) come together to provide a number of benefits, including support for expressing any intent, MEV protection, and price improvement. +CoW Protocol's [intent-based trading model](https://docs.cow.fi/cow-protocol/concepts/introduction/intents) and [batch auctions mechanism](https://docs.cow.fi/cow-protocol/concepts/introduction/batch-auctions) come together to 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) From d8a2428e98b3396b200557738be11ff42842e855 Mon Sep 17 00:00:00 2001 From: gogonimago <78171199+gogonimago@users.noreply.github.com> Date: Tue, 23 Apr 2024 09:37:34 -0700 Subject: [PATCH 7/8] Update additional-benefits.md --- 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 a6552fd3..c13a41c9 100644 --- a/docs/cow-protocol/concepts/benefits/additional-benefits.md +++ b/docs/cow-protocol/concepts/benefits/additional-benefits.md @@ -4,7 +4,7 @@ sidebar_position: 4 # Additional benefits -CoW Protocol's [intent-based trading model](https://docs.cow.fi/cow-protocol/concepts/introduction/intents) and [batch auctions mechanism](https://docs.cow.fi/cow-protocol/concepts/introduction/batch-auctions) come together to provide a number of benefits, including support for expressing any intent, MEV protection, and price improvement. +CoW Protocol's [intent-based trading model](/cow-protocol/concepts/introduction/intents.md) and [batch auctions mechanism](/cow-protocol/concepts/introduction/batch-auctions) come together to 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) From 577568deb96f4b6e19e7c890b8b7fed67da85e7e Mon Sep 17 00:00:00 2001 From: mfw78 <53399572+mfw78@users.noreply.github.com> Date: Wed, 24 Apr 2024 07:38:36 +0000 Subject: [PATCH 8/8] Update additional-benefits.md --- 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 c13a41c9..7309fc45 100644 --- a/docs/cow-protocol/concepts/benefits/additional-benefits.md +++ b/docs/cow-protocol/concepts/benefits/additional-benefits.md @@ -4,7 +4,7 @@ sidebar_position: 4 # Additional benefits -CoW Protocol's [intent-based trading model](/cow-protocol/concepts/introduction/intents.md) and [batch auctions mechanism](/cow-protocol/concepts/introduction/batch-auctions) come together to provide a number of benefits, including support for expressing any intent, MEV protection, and price improvement. +CoW Protocol's [intent-based trading model](/cow-protocol/concepts/introduction/intents) and [batch auctions mechanism](/cow-protocol/concepts/introduction/batch-auctions) come together to 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)