CoW DAO Monthly Recap: July 2026
gm gm, dearest CoW herd 
July was the month CoW Protocol extended settlement beyond the EVM: cross-chain swaps to Bitcoin went live! Also, the Affiliate Program crossed a major milestone, and CoW DAO put its weight behind an industry-wide push on mempool encryption.
Here’s what happened 
Numbers
Monthly Volume: $2.5B
Monthly Trades: 691,978
Active Wallets: 111.5k (86.1k new · 25.4k returning)
Cumulative All-Time Volume: $208.5B
14.5% DEX aggregator market share — #3 across all supported chains
Integrations
Safe{Mobile} + WalletConnect — Safe now connects directly to CoW Swap via WalletConnect in Safe{Mobile}.
Lido Fast Swaps are back — Skip the withdrawal queue entirely; unstake into ETH, USDC, WBTC, and more for instant liquidity, powered by CoW Protocol, right inside the Lido staking widget.
PQ1 hardware wallet — CoW Swap is now integrated into PQ1, ethphone’s new post-quantum secure hardware wallet. CoW Swap trades can be clear-signed on the device, and CoW Swap’s deployments are in PQ1’s known-address database.
Protocol and Community
Cross-chain swaps to Bitcoin — CoW Protocol now settles swaps directly into and out of Bitcoin, extending settlement beyond the EVM for the first time.
The Moo & Earn Affiliate Program crossed $170M+ in total referred volume.
Our co-founder and CTO Felix joined NEAR Protocol and The Rollup for Virtual NEAR Day on July 16 to talk intent-based execution and chain abstraction. Watch here.
Transparency & Ecosystem
CoW Protocol’s Token Transparency disclosure report is now live with Blockworks — read the filing.
$COW has been added to Aragon’s Ownership Token Framework dashboard, which maps ownership and value accrual across governance tokens.
We joined the Encrypt the Mempool Coalition, pushing alongside other industry leaders for an EIP to encrypt Ethereum’s mempool in the next hardfork — aiming to reduce toxic MEV and real-time censorship in a decentralized, credibly neutral way.
Grants
RFP: Bring Your Own Solver (BYOS) — grant application from bleu team has passed the Snapshot vote.
UI translation program — candidates selected, translation window officially open. Thank you to everyone who applied.
Governance
CIP-Draft: Simplifying the CoW DAO Bonding Pool — discussion continues on the forum.
CIP-Draft: Penalty Cap Redesign — proposes switching solver penalty caps from a flat fee to a small % of order volume (varying by chain/token type). Discussion ongoing.
Treasury
CoW DAO Treasury - June 2026 Monthly Report is now live — capital preservation, selective stablecoin yield, and continued deployment into the KPK USDC Prime vault.
Team
Open roles:
Partnerships Manager
Staff Backend Engineer (Rust)
Apply now → Careers - CoW DAO
July took the protocol somewhere it’s never settled before, and the herd kept growing while it did.
Full monthly recap → link
Keep milking it,
CoW DAO