Want to know why CoW Swap is the king of intent-based DEXes? 🤔
This report from @sui414 and friends is what you need!
A 🧵
The report studied 6-months worth of trading data to ask:
Which solver based DEX offered the best value for end-users? The three DEXes examined were:
- CoW Swap
- 1inch Fusion
- UniswapX
TL:DR solver based DEXes performed better than their non solver-based alternatives.
"Solvers effectively improved pricing through optimized routing and access to off-chain liquidity for both short-tail (USDC-WETH) and long-tail (PEPE-WETH) assets."
CoW Swap has a more decentralized solver network:
- CoW Swap's top solver accounts for 25% of market share, and the next five solvers each hold around 10%.
- 1inchFusion: the top 3 solvers control 80% of total volume.
- UniswapX, 2 solvers dominate over 90% of total volume.
CoW Swap was also better for big traders:
"CoWSwap, among the 3, showed the most significant uptick of execution improvement as trade size goes above 100 ETH."
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