Key Points
- Upbit will list COW trading pairs at 20:30 South Korean time.
- COW price spiked significantly following the announcement.
Upbit, the biggest crypto exchange in South Korea, announced that it will list a new project today: Cow Protocol (COW).
Upbit's COW Listing Details
In its official announcement, Upbit revealed that it will list the following trading pairs for COW:
- COW/KRW
- COW/USDT
- COW/BTC
The trading pairs will be listed at 20:30 South Korean time.
COW's price surged following the exchange's announcement.
COW Price Is UP by 30% Today
At the moment of writing this article, COW is trading above $0.42 and the coin is up by 30% for the day.
Before Upbit's announcement, COW was trading at $0.29 and its price spiked above $0.46 afterward, reaching a market cap above $192 million. Currently, following a cool-off for the price, the coin has a market cap of almost $174 million.
What is Cow Protocol (COW)?
Cow Protocol claims to be a DeFi innovation, operating on the Ethereum mainnet, defined to optimize trading outcomes for users via a mix of strategies.
Cow Protocol allows users to sign their swap intention and delegate the execution to so-called solvers instead of directly executing trades on-chain.
Solvers are relayers in other protocols and they bid on the best possible exchange rate to win the right to settle trades.
By batching multiple trades together to create CoWs (Coincidence of Wants), solvers can save on:
- Gas costs
- AMM fees
- Execution risks
CoWs lead to better prices than on any existing DEX aggregator. It's also worth noting that in the absence of CoWs, solvers fall back to using the best possible on-chain route by comparing quotes from leading aggregators.
The COW coin allows holders to:
- Have the right to govern and curate the infrastructure of the Cow Protocol ecosystem via the CowDAO
- Receive fee discounts when trading on CoWSwap
CoWSwap Benefits
Yesterday, COW announced via X that CoW Swap is perfect for multi-sig wallets as it:
- Helps users get the price they want
- Offers MEV protection
- Has gasless approvals
- Has built-in programmatic orders
