Study Shows CoW Swap Leads Intent-Based DEXes in Decentralization and Volume

馃惍 DEX Battle: David vs Goliaths

By CoW DAO
Mar 31, 2025, 4:32 PM
CoW DAOTwitter

A comprehensive 6-month trading analysis reveals CoW Swap's dominance among solver-based DEXes:

  • Higher Trading Volume: ~$200M daily vs $60M (1inch Fusion) and $30M (UniswapX)
  • More Decentralized: Top solver only controls 25% market share, with next five at ~10% each
  • Better for Large Trades: Shows best execution improvement for trades over 100 ETH

The study compared CoW Swap, 1inch Fusion, and UniswapX, finding solver-based DEXes generally outperform traditional alternatives through optimized routing and off-chain liquidity access.​

Try CoW Swap: swap.​cow.​fi

Sources

Want to know why CoW Swap is the king of intent-based DEXes? 馃 This report from @sui414 and friends is a good place to start! A 馃У

danning
danning
@sui414

Excited to share our latest paper with @ballsyalchemist @dex_chen_V from @thelatestindefi TLDR fellowship - measuring Execution Welfare on solver-based DEX (CoWSwap, 1inch Fusion and UniswapX). So which DEX has better price 馃憫 for users? A thread 馃У: Paper Link:

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