CoW DAO

**CIP-86 has concluded**, with CoW DAO successfully reimbursing all eligible victims of the April DNS hijacking incident. **Key details:** - Reimbursements were made voluntarily from the Legal Defense Reserve - The protocol itself was not compromised - The DAO chose to compensate users despite no protocol-level breach This action demonstrates CoW DAO's commitment to user protection, even when technical infrastructure remains secure. The decision to make users whole after a DNS attack—rather than a protocol exploit—sets a precedent for how DAOs can respond to incidents affecting their community. The completion of CIP-86 marks the end of the compensation process that began following the April 14 DNS hijack.

CoW DAO's Core Team published a comprehensive value distribution strategy on May 15, marking a significant shift in tokenomics. **Key Changes:** - Stricter solver bond requirements - Trial 1:1 token burn from DAO treasury (6,085M COW) - Flexible buyback program implementation **Results:** - 78.6M COW tokens bought back - 66.6M COW tokens emitted - Net deflationary: 12M tokens The protocol now operates with quarterly deflationary pressure, with plans to strengthen this mechanism further. The proposal emerged from community research and collaboration with Aragon Project on value distribution mechanisms. [Read the full proposal](http://forum.cow.fi/t/cow-daos-path-to-value-distribution-core-team-view/3454)

CoW Protocol has released **Atomic Bundles**, expanding intents beyond simple swaps to complex DeFi operations. **What's New:** - Developers can now bundle looping, repay-with-collateral, and flashloan strategies into a single intent - One signature executes multiple coordinated actions atomically - Solver-protected execution handles the complexity **How It Works:** Atomic Bundles pair solver-settled swaps with downstream protocol actions. Users sign one intent, solvers handle execution, and position updates follow automatically—no manual steps required. **Use Cases:** - Lending protocols - Vault management - Treasury operations The framework is already live and being used by protocols like Euler. [Learn more about Atomic Bundles](https://cow.fi/learn/intents-can-now-do-more-introducing-atomic-bundles)

**Euler Finance** has integrated **CoW Protocol** as its swap execution layer for cross-asset position actions on Ethereum mainnet. Key features now available: - Multiply positions with MEV protection - Swap collateral seamlessly - Repay debt directly from collateral - Built-in MEV-protected execution The integration routes trades through CoW Protocol, which finds optimal prices across exchanges and aggregators while protecting users from MEV (Maximal Extractable Value). **Affiliate Program Milestone**: The program has surpassed **$100M in total referred volume**, with rewards actively distributed to both affiliates and traders. This partnership enhances Euler's DeFi lending platform by adding an execution layer that prioritizes user protection and optimal pricing for position management operations.

CoW Protocol maintained its position as the second-largest DEX aggregator across all supported chains in May, capturing 16.8% market share. **Key Highlights:** - Market share of 16.8% across supported chains - Ranked second among DEX aggregators - Continued development focus at CoW DAO The protocol operates in an increasingly competitive DEX aggregation landscape, where it routes trades across multiple exchanges while providing MEV protection. May's performance demonstrates CoW Protocol's sustained presence in the decentralized exchange aggregation sector, though market share has adjusted from the 28.4% peak reported in January. Learn more at [cow.fi](https://cow.fi)

CoW Protocol has introduced **Atomic Bundles**, a reusable smart contract template enabling developers to execute complex, multi-step DeFi operations atomically in a single settlement. **Key capabilities include:** - Loop-borrow-redeposit strategies - Repay debt with collateral - Flashloan-enabled executions - Atomic open/close flows for perpetuals - Multi-step payment and treasury operations All executions maintain CoW Protocol's core features: solver competition, MEV protection, and surplus generation. **For builders**, Atomic Bundles simplify development across lending (one-click looping, collateral swaps), perpetuals (atomic open/close flows), and payments (multi-step flows with zero mid-execution risk). Previously, developers needed to write custom wrapper contracts from scratch for each use case. Now they can fork the template, add their logic, and plug into CoW Protocol's solver network. Read more: [Introducing Atomic Bundles](https://cow.fi/learn/intents-can-now-do-more-introducing-atomic-bundles)

**CoW Swap is now live on Linea**, Ethereum's L2 network, bringing gasless trading and advanced order types to the platform. **Key features on Linea:** - Gasless swaps by default - no ETH needed for gas - Limit and TWAP orders - Swap & Send functionality - Upcoming Swap & Bridge feature **How it works:** CoW Protocol's solver network competes to find the best prices across DEXs while protecting users from MEV attacks. **Expanded Aave integration** also launched, powering more DeFi operations: - Collateral swaps - Repay-with-collateral transactions - Debt swapping All operations are **gas-optimized and MEV-protected**. The integration uses intent-based transactions - users specify what they want, and solvers find the optimal execution path. **Benefits include:** - Solver-routed execution for better prices - Shared liquidity across $10B+ monthly volume - Simplified user experience with fewer approvals Try CoW Swap on Linea: [swap.cow.fi](https://swap.cow.fi/#/59144/swap/WETH/0x176211869cA2b568f2A7D4EE941E073a821EE1ff) Learn more about the Aave integration: [aave.com/blog/aave-cow-swap](https://aave.com/blog/aave-cow-swap)

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](https://swap.cow.fi/#/1/swap/WETH/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48)

CoW DAO announces their presence at DevCon Bangkok with a packed schedule: - Tuesday: @Silver_Queen presents on user interaction in web3 - Wednesday: Booth presence at ArbiVerse (Arbitrum event) with swag giveaways - Thursday: @AnnaMSGeorge discusses CoW AMM's batch mechanism - Friday: Two key talks: * @AndreaCanidio on trade intents and fair mechanism design * @fleupold_ explores PBS in Ethereum **Special Event**: CoW DAO hackathon offering $10,000 in prizes at ETHGlobal Visit the CoW DAO booth to connect with the team and collect exclusive swag!

MEV Blocker has announced a partnership with DeFi Saver to enhance user protection against Miner Extractable Value (MEV). Key points: - DeFi Saver's TxSaver feature now integrates MEV Blocker - This integration aims to make transactions smoother and safer - Users' trades will be protected from prying eyes - The partnership offers improved rebates and protection This collaboration represents a significant step in safeguarding DeFi users from potential MEV exploitation. Users can expect enhanced privacy and potentially better trade execution through this integration. To learn more about TxSaver and its use of MEV Blocker, check out the detailed thread provided by DeFi Saver.