Cosop Transactions

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The execution rout can change between blocks. If you set a gas price that is not mined immediately, or if there's a spike n usage and you're not speaking up your then as soon as this route is no longer available, your transaction will fail. Soo h other aggregators like one in work the same. A solver that notices, o, this rout is no longer available could try to replace their transaction with a hiergas vi sem nons. Or if the action did fail, then the solver would take that risk and re submit it with a different route,. rather than having the user deal with a failed transaction and having spent a lot of gas on practically doing nothing.

Earlier this week, I did a deep dive on a new DEX trading protocol called CowSwap, which combines many good features into what is possibly the most complete trading experience in Defi. First, you no longer publish a fee-paying transaction to the public mempool. Instead, you sign a transaction and submit it off-chain to the CowSwap relayer, which handles all the execution. For you, this means you can safely set a very low slippage tolerance because you only ever pay a fee if your trade succeeds. Second, and this gets us to real innovation, CowSwap looks for so-called “coincidents of wants” or CoWs before sending your order to the regular on-chain exchanges. For example, if one trader wants to buy ETH at a certain price and another wants to sell it, these two can be matched without paying any LP fees. Off-chain solvers can look at this orderbook and submit optimal matchings that among others, guarantee that all trades in a certain batch have to settle at the same uniform price. Because there’s no point in reordering trades that have the same price, this also eliminates MEV as well. Only after all coincidents have been exhausted, CowSwap sends the rest of the order to the on-chain exchanges via smart routers like 1Inch If you didn’t get all of that immediately, don’t worry - neither did I, and that’s why I invited Felix Leupold from CowSwap and Gnosis to answer my remaining questions. Please enjoy my conversation on CowSwap with Felix Leupold. GUEST https://cowswap.exchange/#/swap Felix Leupold https://twitter.com/fleupold_ Listen to conversations between Su Zhu, the CEO and CIO of Three Arrows Capital, and Hasu, an experienced crypto researcher and writer. Together with occasional guests, we explore the transformative nature of trust-minimized currency and financial services. SUBSCRIBE to the Podcast Apple Podcast https://podcasts.apple.com/us/podcast/uncommon-core/id1517659188?uo=4 Spotify https://open.spotify.com/show/3vuV292Him90EjQ5YL4XIw Youtube https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy8yNTc4ZDVhMC9wb2RjYXN0L3Jzcw== Other https://anchor.fm/uncommoncore FOLLOW on Twitter Su Zhu https://twitter.com/zhusu Hasu https://twitter.com/hasufl Our homepage and mailing list https://uncommoncore.co/podcast/ Transcripts, if available https://uncommoncore.co/blog/