CoW DAO Expands TWAP Orders to All External Wallets

LISBON, Portugal, Sept. 30, 2026 /CourierPR/ -- CoW DAO, the decentralized finance (DeFi) protocol, has expanded its CoW Swap platform to allow all externally owned account (EOA) wallets to use time-weighted average price (TWAP) orders, a feature previously restricted to multisig wallets. This move aims to democratize access to a trading strategy that has long been favored by professional traders to minimize market impact.

TWAP orders work by splitting large trades into smaller pieces that execute over set intervals, rather than filling all at once. This approach helps reduce the price impact a single large order can have on the market. According to academic research, for swaps above $100,000, price impact and slippage together account for roughly 77% of the total cost of the trade. Even on thinner-liquidity pairs, price impact and slippage made up more than a third of the total cost of trades between $1,000 and $100,000. This underscores the importance of TWAP orders in managing trade costs.

The feature has already attracted significant attention from major wallets. The Ethereum Foundation has used CoW Swap's TWAP orders multiple times to convert Ethereum (ETH) into stablecoins, such as in a 5,000 ETH conversion in April 2026, to fund research and development, grants, and donations without disturbing the market price. Similarly, Ethereum co-founder Vitalik Buterin has utilized the TWAP feature for his own ETH-to-stablecoin conversions, including a transaction of more than 3,100 ETH.

TWAP orders offer traders additional benefits beyond reducing market impact. They can spread execution across time, providing an average execution price rather than relying on the market price at a single moment. Additionally, trades can be scheduled at regular intervals, allowing traders to automate recurring strategies such as buying a fixed amount of an asset every week or month without the need to manually place each order.

Since its launch, CoW Protocol has processed over $200 billion in user trades and saved more than $1.5 billion in extracted value, returning it to users. The protocol's intent-based DeFi approach, which includes CoW Swap, enables gasless, MEV-protected swaps across major chains through solver competition and batch auctions. The update to CoW Swap is now live on swap.cow.fi for all supported EVM chains, making TWAP orders accessible to a broader user base.