CoW DAO Monthly Recap: June 2026

June picked up where May left off.

New integrations kept shipping. But the defining work of June happened at the solver layer: an upgraded competition metric, an open RFP that rethinks who can participate in the protocol's auctions, and a governance conversation about how bonded solvers operate over the long term. And when the month closed, the numbers told a story worth reading carefully.

Let's get into it.

June by the Numbers

• Monthly Volume: $3.4B

• Monthly Trades: 449,820

• Active Wallets: 96.1k (75.8k new · 20.3k returning · 79% new wallet ratio)

• Cumulative All-Time Volume: $205.3B

Chain breakdown:

• Ethereum led at $3B

• Base $130.3M

• BNB $100M

• Arbitrum $79.7M

• Polygon $15.6M

• Gnosis $5.8M

Volume up 48% and trades have nearly doubled. BNB drove a significant share of that shift, with 122,000 trades executed across 39,000 wallets. Of which 88% of those were first time users. That has helped nudge the proportion for new wallets versus returning ones up to 78%.

Integrations

Summer.fi: No More Swapping Before You Deposit

Summer.fi's earn vaults now let users deposit with any token and withdraw to any asset — powered by CoW Protocol. The price is visible upfront, the conversion happens automatically, and the position is filled. Seamless in, seamless out.

MetaMask Swaps

Four new providers joined MetaMask Swaps in June — PancakeSwap, CoW Swap, Uniswap, and Titan Exchange — adding more competition across quotes for MetaMask users. More competition means better rates. CoW Protocol's solver network is built to win that competition.

Solver Infrastructure

Consistency Metric v2

The solver consistency metric has been upgraded from raw order count to a combined score. It now factors both relative surplus and settlement success rate. The idea? Solvers who bid credibly and settle reliably score well. Solvers submitting near-zero bids to inflate their count don't.

The result? Better incentives, better competition, and better outcomes for users.

RFP: Bring Your Own Solver (BYOS)

BYOS (Bring Your Own Solver) is a new RFP from CoW Grants aimed at lowering the barrier to competing on CoW Protocol orders. Right now, bidding requires becoming a fully bonded solver — legal, operational, and communication overhead that only well-resourced teams can clear. BYOS changes that: one bonded solver handles the trust layer, while anyone else — market makers, UIs, liquidity sources — can submit signed routing proposals on individual orders without bonding themselves.

Governance

CIP-Draft: Simplifying the CoW DAO Bonding Pool

This CIP-Draft simplifies CoW DAO bonding pool rules: a flat 10% service fee from day one, plus a "Solver Bond Safe" that auto-receives 20% of weekly rewards until it matches a reduced bonding pool ($200k in stables/ETH, or $100k + 0.5M COW) — at which point the solver can run its own driver independently. It replaces a patchwork of overlapping requirements that had become hard to track and enforce, aiming to cut core-team overhead and make self-operation more accessible to more solvers.

One last thing.

CoW Swap is now on LinkedIn!

Find us there for ecosystem updates, team news, and more.

CoW DAO 🐮