Introduction CoW Swap is the first trading interface built on CoW Protocol[1]. CoW Swap is a decentralized exchange that allows users to swap tokens on the Ethereum blockchain. It is on top of the CoW Protocol, a set of smart contracts that implement the rules and logic of the exchange. The CoW Protocol is designed to be a decentralized, trustless platform for exchanging tokens, which means that it does not rely on any central authority or intermediaries to facilitate trades. Instead, it uses a network of solvers to automatically execute trades based on predefined rules, ensuring that the process offers the best possible price for the users.