CowSwap’s off-chain service optimizes your trade’s execution by considering:
+CowSwap's off-chain service optimizes your trade's execution by considering:
-
Coincidence Of Wants
@@ -91,9 +92,9 @@ export default function About() {- Heard about Maximum Extractable Value yet? It’s scary. To date more than{' '} -
USD 797M in value has been extracted from - users by bots frontrunning transactions, exploiting the slippage users allow in a trade. + Heard about Maximum Extractable Value yet? It's scary. To date more than{' '} +USD {MEV_TOTAL} in value has been extracted from users by + bots frontrunning transactions, exploiting the slippage users allow in a trade.
CowSwap is the first DEX Aggregator offering some protection against it: COWs enable tight slippages and can diff --git a/src/custom/pages/Faq/GeneralFaq.tsx b/src/custom/pages/Faq/GeneralFaq.tsx deleted file mode 100644 index a2f031503..000000000 --- a/src/custom/pages/Faq/GeneralFaq.tsx +++ /dev/null @@ -1,162 +0,0 @@ -import Page, { Content } from 'components/Page' -import { ExternalLinkFaq, Wrapper } from './styled' -import { StyledInternalLink } from 'theme' -import { Footer } from '.' - -import { useToC } from './hooks' -import ToC from './ToC' - -export default function GeneralFaq() { - const { toc, faqRef } = useToC() - - return ( -- - ) -} diff --git a/src/custom/pages/Faq/index.tsx b/src/custom/pages/Faq/index.tsx index f2e7607c0..08bdb5032 100644 --- a/src/custom/pages/Faq/index.tsx +++ b/src/custom/pages/Faq/index.tsx @@ -1,6 +1,14 @@ import { Link } from 'react-router-dom' -import { DISCORD_LINK } from 'constants/index' +import { + GPAUDIT_LINK, + COWWIKI_LINK, + GNOSIS_FORUM_ROADTODECENT_LINK, + FLASHBOYS_LINK, + DISCORD_LINK, + MEV_TOTAL, + FLASHBOTS_LINK, +} from 'constants/index' import Page, { Content } from 'components/Page' import { ExternalLinkFaq, Wrapper, ButtonNav, FooterWrapper } from './styled' import { FaqMenu } from './Menu' @@ -76,17 +84,15 @@ export default function Faq() {- - -- -General
-What is CowSwap?
-CowSwap is the first trading interface built on top of CoW Protocol.
-- CowSwap is a Meta DEX aggregator that allows you to buy and sell tokens using gasless orders that are - settled peer-to-peer among its users, or into any on-chain liquidity source while providing MEV protection. -
- -What makes CowSwap a "Meta" DEX aggregator?
-- Cowswap is built on top of the CoW Protocol which matches trades via batch auctions for a variety of - on-chain liquidity sources. -
-- Trades can be settled via underlying on-chain AMMs directly or via DEX Aggregators, depending on which - pool/path offers the best price. It is thus essentially acting as a DexAggregator of the DexAggregators. -
-- In addition to that, before finding the best price for a trade from available on-chain liquidity, CoW - Protocol first seeks a coincidence of wants within the existing batch to offer an even better price than any - pool can. -
- -- What is MEV and how much MEV has been extracted from users to date? -
- -- Defined by Phil Daian et al. in the{' '} -
- -paper Flash Boys 2.0 , MEV is a - measure of the profit a miner (or validator, sequencer, etc.) can make through their ability to arbitrarily - include, exclude, or re-order transactions within the blocks they produce. -- Since January 2020 until now (March'22), the total amount of value extracted by miners (etc.) on - Ethereum transactions has reached{' '} -
- -- $ 605 Million, including successful and failed transactions. - -- To what does the term Coincidence of Wants (CoWs) refer? -
- --
- -- Coincidence of Wants (CoWs) - {' '} - can be explained as “an economic phenomenon where two parties each hold an item the other wants, so they - exchange these items directly.” CowSwap facilitates CoWs among traders and their orders through using batch - auctions as a core mechanism. -- This means, on CowSwap, when two traders each hold an asset the other wants, a trade can be settled directly - between them without an external market maker or liquidity provider. This leads to better prices for the - individual traders (because traditionally market makers add a fee — referred to as spread — for their - service). -
- -- CowSwap allows for coincidence of wants (CoWs) orders to be traded directly against one another. Only the - excess order amounts that cannot be settled directly with other CowSwap traders are sent to the underlying - AMMs (automated market makers). -
- -- How am I protected from MEV (Arbitrage, Front running, Sandwiching) with CowSwap? -
- -- CowSwap leverages batch auctions with uniform clearing prices for all trades in the same batch. Because of - the uniform clearing price, there is no need for ordering the transactions within a single batch. Because - everyone receives the same price across assets it’s not possible for any value to be extracted by - placing transactions in a certain order. This prevents the primary strategy used in MEV. -
- -- Batches are decentrally settled by external, independent parties (called “solvers”) on-chain. A solver is a - person or entity who submits order settlement solutions that maximize trade surplus for a given batch. - Solvers are incentivized to implement professional transaction management techniques that allow them to set - very tight slippage bounds on any interactions with external liquidity sources (e.g., trading CoW excess on - Uniswap). This dramatically reduces the manipulation surface of miners and front-runners. -
- -- Additionally, depending on the composition of the orders that are submitted and are valid for a given batch, - the existence of CoWs may significantly reduce the amount that has to be exchanged via external MEV-prone - protocols, such as Uniswap. -
- -How does CowSwap determine prices?
- -- CowSwap settles batch auctions in discrete time intervals. In the absence of other traders, CowSwap matches - traders against the best available on-chain liquidity (note: currently the solvers have integrated liquidity - from Uni v2, Uni v3, Balancer, Balancer v2, Sushiswap and the liquidity that Aggregators such as Paraswap, - Matcha and 1inch leverage). -
- -- If CoWs (Coincidence of Wants) orders exist in a batch, the “smaller” order is matched fully with the larger - order. The excess of the larger order is settled with the best available base liquidity CowSwap integrates - with, which is, for now, Uniswap. The clearing price for both orders will be the price of the token with the - excess amount on external liquidity sources to which the protocol is connected. -
- -- Finding the best settlement for orders is a challenging task, which very soon may have its own{' '} -
- -- decentralized competition - - . -Is CowSwap secure to use?
- -- As of August 11th, 2021, CowSwap is no longer in alpha and moves to a final, stable version. The underlying - CoW Protocol Smart contracts have been upgraded to integrate tightly with Balancer v2. -
- -- With this upgrade, CowSwap evolves into its most stable, performant form: the code has been thoroughly and - carefully tested, peer-reviewed and fully{' '} -
- -- audited - - . Whilst CowSwap has taken a major step forward in terms of security and stability, as with other crypto - protocols or dapps, your use is at your own risk.{' '} - - Please review our{' '} -- Terms and Conditions - - . - -Defined by Phil Daian et al. in the{' '} -
paper Flash Boys 2.0 , MEV is a - measure of the profit a miner (or validator, sequencer, etc.) can make through their ability to arbitrarily - include, exclude, or re-order transactions within the blocks they produce. +paper Flash Boys 2.0 , MEV is a measure of the + profit a miner (or validator, sequencer, etc.) can make through their ability to arbitrarily include, + exclude, or re-order transactions within the blocks they produce.- Since January 2020 until now (July'21), the total amount of value extracted by miners (etc.) on Ethereum - transactions has reached{' '} -
- $ 796.8 Million, including successful and failed transactions. - + As of today the total amount of value extracted by miners (etc.) on Ethereum transactions has reached{' '} +USD {MEV_TOTAL} , including successful and failed + transactions.@@ -94,12 +100,10 @@ export default function Faq() {
-
- Coincidence of Wants (CoWs) - {' '} - can be explained as “an economic phenomenon where two parties each hold an item the other wants, so they - exchange these items directly.” CowSwap facilitates CoWs among traders and their orders through using batch - auctions as a core mechanism. +Coincidence of Wants (CoWs) can be explained as “an + economic phenomenon where two parties each hold an item the other wants, so they exchange these items + directly.” CowSwap facilitates CoWs among traders and their orders through using batch auctions as a core + mechanism.@@ -122,8 +126,8 @@ export default function Faq() {
CowSwap leverages batch auctions with uniform clearing prices for all trades in the same batch. Because of the uniform clearing price, there is no need for ordering the transactions within a single batch. Because - everyone receives the same price across assets it’s not possible for any value to be extracted by - placing transactions in a certain order. This prevents the primary strategy used in MEV. + everyone receives the same price across assets it's not possible for any value to be extracted + by placing transactions in a certain order. This prevents the primary strategy used in MEV.
@@ -158,10 +162,7 @@ export default function Faq() {
Finding the best settlement for orders is a challenging task, which very soon may have its own{' '} -
- decentralized competition - - . +decentralized competition .Is CowSwap secure to use?
@@ -173,11 +174,8 @@ export default function Faq() {With this upgrade, CowSwap evolves into its most stable, performant form: the code has been thoroughly and - carefully tested, peer-reviewed and fully{' '} -
- audited - - . Whilst CowSwap has taken a major step forward in terms of security and stability, as with other crypto + carefully tested, peer-reviewed and fullyaudited . + Whilst CowSwap has taken a major step forward in terms of security and stability, as with other crypto protocols or dapps, your use is at your own risk.{' '} Please review our{' '}