CoW Protocol Launches Fair Combinatorial Batch Auctions (FCBA)

**CoW Swap has released a full post-mortem** following the April domain hijacking incident that temporarily compromised cow.fi. **What happened:** - An attacker used social engineering to hijack the cow.fi domain from the registrar - The attack deployed a phishing site with wallet drainers and fake modals to steal credentials - CoW Protocol's backend and APIs were not compromised **Response:** - Team recovered domain control and communicated in real-time throughout the incident - Proposed a discretionary grants program to compensate affected users - Published detailed post-mortem covering the incident and preventive measures The team emphasized accountability and transparency in handling the security breach. A governance vote is required to approve victim compensation due to the high sums involved. [Read full post-mortem](https://x.com/CoWSwap/status/2044924940886163780)

CoW Protocol's DAO has successfully passed **CIP-85**, continuing its deflationary token model. **Key Metrics (April 2024 - April 2026):** - Total buybacks: 77.8M $COW tokens - Total rewards distributed: 66.2M $COW - Net emissions: **Negative every quarter** - Cumulative net reduction: 11.6M $COW The protocol has maintained a **deflationary token supply** for eight consecutive quarters, with buybacks consistently exceeding emissions. This marks a continuation of the trend established in March, where the gap between buybacks and emissions has grown each quarter. The governance proposal CIP-85 passed, setting the framework for continued buyback operations through May 2026. [Read the full April recap](https://cow.fi/learn/cow-dao-monthly-recap-april-2026)

**CoW Protocol's April Performance:** - **292,947 trades** executed across the platform - **47,700 active wallets** participating - **$4 billion** in monthly trading volume The protocol launched new integrations and partnerships during April, continuing its expansion as execution infrastructure across multiple chains and ecosystems. This follows September's $11.2 billion volume on Ethereum, marking the protocol's second-largest month on record.

CoW Protocol continues expanding its ecosystem with several key integrations: - **Lido Finance** now routes fast swaps through CoW Protocol - **xStocks** brought 50+ tokenized stocks and ETFs to BNB Chain via CoW Protocol settlement - **auto.fun** users gained access to MEV-protected swaps, limit orders, and cross-chain functionality - **cbMEGA** launched on Base with Day 1 CoW Swap support These integrations build on recent infrastructure upgrades, including Atomic Bundles - a smart contract template enabling complex, multi-step DeFi workflows. The feature supports lending loops, collateral swaps, perpetual trading flows, and payment operations. All trades benefit from CoW Protocol's solver competition model, which finds optimal prices while protecting users from MEV exploitation.

CoW Swap celebrated its fifth anniversary in April while crossing $200 billion in cumulative trading volume. The decentralized exchange, which launched with a focus on fairer trading, has grown steadily over the years. **Key Highlights:** - Platform turned 5 years old - Reached $200,000,000,000 in total volume - User base continued expanding The milestone represents significant growth for the protocol, which finds optimal prices across multiple exchanges while protecting users from MEV (Maximal Extractable Value). The platform previously set a monthly volume record of $9 billion in July 2025. CoW Swap's approach differs from traditional aggregators by routing trades through multiple sources including Uniswap and 1inch, while adding MEV protection that other platforms don't offer.