Charles N. Dalton, a contributor to Yearn Finance, proposed an innovative solution for improving the routing of smart contracts through CoW Protocol. The proposal revolved around ‘Milkman’, a smart contract system uniquely devised to optimize this process. The goal was to alleviate the inefficiencies encountered when swapping tokens via Gnosis Safe.
Milkman was conceived as a trustless, user-friendly layer within CoW Protocol, with its primary function being to simplify the routing of order flows for DAOs. Dalton requested a grant of $45,000 to fund the development of Milkman.
After approval of the proposal and allocating the necessary funds, Milkman underwent a successful audit. Subsequently, the ‘price checkers’ and testing suite were developed and integrated. Since the launch, the Milkman bot has proven stable and operational in production, handling swaps without issues. The Python SDK was successfully deployed to PyPi under the name ‘milkman_py 0.1.1’.
These accomplishments led to the full payout of the grant, marking the successful execution of this pioneering initiative within CoW Protocol.
Software developer alon.cow proposed the creation of a Privacy-Preserving CoW Swap Trader Leaderboard, an initiative based on Sismo Badges. Recognizing the significant privacy concerns of CoW Protocol’s traders, this proposal aimed to facilitate the generation of a Zero-Knowledge (ZK) cryptographic “Proof of Volume”. This solution allowed traders to mint a badge to an unassociated account, thereby demonstrating their aggregate trading activity without disclosing the details of their actual wallets. In addition to its primary function, the badge is designed to feature in a “CoW Trader Leaderboard” and a dedicated snapshot space is known as the “CoW Trader Union”.
Following this proposal, the grants committee and the broader community conducted testing of the initiative. It proved its value and efficacy, and the grant was fully funded. This initiative now stands as a valuable asset to the community, providing a unique solution while encouraging active trading within the CoW Protocol ecosystem.
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Willy Ogorzaly, a member of the ShapeShift DAO community, initiated a grant proposal focusing on the integration of CoW Swap into ShapeShift’s operations. This strategic move was aligned with ShapeShift’s aim of becoming a leading interface within the decentralized finance ecosystem, offering users unparalleled liquidity, protection from MEV, and efficient trade execution.
The integration proceeded in several stages and successfully achieve the first volume bounty. This stage included the integration of CoW Swap as the default DEX protocol for Ethereum mainnet trades and the modification of the user interface to accommodate the differences between CoW Swap and 0x’s user experience. Moreover, ShapeShift’s Swapper library added CoW Protocol, thus broadening its roster of supported DEX protocols and aggregators.
The next stage, currently ongoing, is committed to refining the CoW Protocol integration, resolving issues identified by the CoW Protocol team, and extending the functionality offered by the protocol. This includes adding custom recipient addresses and promoting the CoW Protocol integration.
Future stages envision further developments, such as routing trades from unwrapped ETH to CoW Protocol, making CoW Protocol the default DEX protocol for Gnosis Chain, and compensating users who generate COW tokens for the DAO’s Treasury with FOX Tokens.
The grant proposal called for a two-step funding arrangement. The DAO paid out the first bounty of 5k xDAI and 50k COW. The same amount is slated for disbursement upon completion of the second bounty. Moreover, the DAO established volume-based bounties, offering rewards from 50k to 200k COW for achieving specific trade volumes by December 31, 2023.
The community accepted the grant proposal, and the DAO distributed the funds as planned. The integration of CoW Swap into ShapeShift’s operations should significantly boost the volume of trades routed through CoW Swap, further bolstering the growth and prominence of CoW Protocol.
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