Simple summary
We are excited about CoW Swap’s expansion to L2s!
WOOFi’s sPMM liquidity, deployed on 9 EVM L2s and alt L1s, provides superior pricing on major assets by simulating CEX orderbook liquidity on-chain. It has processed $14.5b volume across all the networks ($8.3b alone on Arbitrum).
WOOFi’s proactive and faster price discovery powered by its high frequency on-chain oracle will help solvers improve the on-chain price execution for CoW Swap users. Another unique advantage is we provide a 20% swap fee rebate to solvers, which can be claimed as additional revenue and allow solvers to provide even better pricing.
Motivation
Integrating WOOFi sPMM liquidity will bring the following benefits to both solvers and users:
- 20% of the swap fee can be rebated to solvers in stablecoins, which solvers can choose to reflect all or partially in the quotes
- No off-chain elements in the integration - better execution guarantee and easier integration than off-chain RFQ
- Price and liquidity simulating CEX orderbook regardless of which network it’s on - ensuring users get high quality execution for majors e.g. WBTC, ETH, native gas tokens
- Arbitraging opportunities with AMMs (passive price discovery)
Specification
Onchain methods are available for checking the token list, query swap price, poolsize, and executing swaps. Please see details in the following link
If you start the integration, please also submit the broker RebateTo address for whitelisting. See details here: Become a WOOFi broker | Dev docs | WOOFi Docs
Additional details
Open to marketing or other forms of incentives to expedite the integration.
Contact
Kevin, WOOFi Lead (TG: @kevin_wg)
Ben, WOOFi Growth Lead (TG: @ben_wg)