DENVER, CO — December 6, 2022 — ShapeShift DAO, a decentralized, non-custodial cryptocurrency platform and community, announced today that their open-source web app is now integrated with CoW protocol, a “Meta DEX aggregator” that searches among other DEX aggregators to consistently find the best prices, gas fees and options for eliminating gas and slippage entirely. As a free, community-owned application, ShapeShift’s mission is to provide its users with the most affordable options for trading the most expansive host of assets; the integration with CoW protocol greatly expands users’ flexibility while also helping them find the best rates for swaps.
CoW protocol integrates well-known industry DEX aggregators 0x, ParaSwap and 1inch, but also includes its own “Coincidence of Wants” (CoW) engine. The platform’s unique approach enables it to search among options and find the best DEX rates, as well as execute token transfers via signed messages once a token is approved (cutting out gas fees). The engine also searches for other traders wishing to make a compatible trade when possible, so no fees are incurred at all. Combined, these capabilities help users of CoW protocol find the most competitive rates, and users of the ShapeShift App—which is always free—trade in one of the most user-favorable environments available.
“I’m very excited about this integration with CoW protocol,” said Willy Ogorzaly, head of decentralization for ShapeShift DAO. “We have been on a continual path of expanding our trading assets and helping our users find the best rates. CowSwap really helps our application take big strides in that direction—and it’s also a very innovative approach we appreciate. Their ethos of helping users avoid hidden and high fees is a perfect fit for ShapeShift.”
CoW protocol is focused on security for users as well. They are a fully permissionless Meta DEX aggregator that replaces a central operator or constant function market maker on which anyone can trade any tokens and build integrations. The trades that route through CowSwap have increased protection from different types of Miner Extractable Value (MEV) attacks, such as front/back running and sandwich attacks.
About ShapeShift
Since 2014, ShapeShift has been pioneering self-custody for digital asset trading. Today’s ShapeShift DAO is an engaged community of builders working to advance the state of crypto trading, investing and access to open, decentralized financial systems. Our web and mobile platforms empower users to safely buy, hold, trade, invest and interact with thousands of digital assets such as Bitcoin, Ethereum and Cosmos.
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