CoW Protocol wallet

What is CoW Protocol (COW)?

An order placed through CoW Swap is not a swap you send to a pool yourself. You sign an intent saying what you want traded and at what limit, and a competing set of solvers works out how to fill it: matching your order directly against someone trading the opposite way when that is possible, and routing the rest through liquidity sources otherwise. Orders are settled in batches at a uniform clearing price, which is the part of the design that takes the ordering of trades out of the hands of whoever is watching the mempool.

COW is the governance token of that system. It carries voting weight in CowDAO, which controls the protocol's parameters and treasury, and it also gives holders reduced fees when trading through the protocol's own interface. Its home is Ethereum, where the DAO's contracts live; the balances you see elsewhere are the token deployed on other chains.

Supported networks in Tangem (5): Arbitrum One, Base, Ethereum, BNB Smart Chain, Polygon POS.

A governance balance is the kind of thing you touch a few times a year at most. Tangem keeps the private key inside the card's chip, generated there and never exported, and you can pair a second identical card as your backup instead of writing a phrase on paper. Holding COW that way suits a token whose whole job is to sit still until there is something to vote on.