📄️ Flow of an order
Rather than creating executable on-chain transactions, CoW Protocol users submit their orders as signed intent to trade messages.
📄️ Coincidence of Wants
CoW (Coincidence of Wants): An economic phenomenon where two parties - each holding the asset that the other needs - exchange assets directly in an equivalent barter.
📄️ CoW Protocol vs. CoW Swap
While the two are intertwined, there are important differences between CoW Protocol and CoW Swap.
📄️ How Intents Are Formed
An intent in CoW Protocol is a signed message that represents a user's wish to trade. It doesn't execute a trade directly — instead, it delegates execution to solvers who find the optimal path.