P2E Gamefi

Safe Wallet Launches Native Token Swaps with CoW Protocol Integration

Safe, the trusted smart account infrastructure provider, has announced the integration of a native token swap feature directly into Safe{Wallet} in partnership with CoW Protocol. This innovative move eliminates the need for users to visit external platforms for swaps, ensuring a more seamless and user-friendly experience for all.

By leveraging CoW Protocol’s advanced aggregation and intent-based architecture, the integration allows for batched execution and reduces errors in multi-signature transactions. Safe{Wallet}, known as the world’s most popular multisig wallet, now offers users the ability to conduct token swaps securely, affordably, and conveniently.

This integration taps into CoW Protocol’s sophisticated aggregation and intent-based architecture, accessing a vast liquidity pool across decentralized exchanges. Users of Safe{Wallet} can access competitive prices and a wide range of tokens, simplifying the trading process and enabling effortless transactions.

Since June 2023, Safe{Wallet} has seen an average monthly swap volume of $450 million, peaking at nearly $1 billion in March. This high volume reflects the strong demand for integrated asset swaps within the Safe community, with Safe Smart Accounts facilitating an impressive $23 billion in swap volume over the past three years.

Previously, Safe{Wallet} users had to rely on external platforms for token swaps. With this new feature embedded directly into Safe{Wallet}, users can now receive quotes from multiple decentralized liquidity sources, ensuring optimal prices and enhancing user convenience.

The integration also introduces an intent-based swap mechanism that supports batched execution, reducing the risk of errors or expirations commonly associated with multi-signature transactions. This advancement provides Safe signers with enhanced accuracy, peace of mind, and a streamlined token swap experience, all while offering MEV protection.

As smart accounts increasingly outpace traditional Externally Owned Accounts (EOAs) in the Web3 space, Safe remains at the forefront of this transition with its impressive ecosystem growth. The recent decision by the Safe{DAO} community to make the SAFE token transferable further solidifies Safe’s position in the market.

According to Lukas Schor, Co-Founder of Safe, “Native token swaps are a game-changer for Safe{Wallet} users, prioritizing seamless experiences and MEV protection through an intent-based architecture.” Anna George, Co-founder of CoW Protocol, also noted, “Safe is the most secure way to own assets. Our collaboration streamlines the swapping process for Safe{Wallet}’s extensive user base while contributing to the continued growth of the CoW Protocol ecosystem.”

With over 7.5 million Safe smart accounts created since its launch, representing a remarkable 290% year-over-year growth, Safe continues to solidify its position as a cornerstone of the DeFi sector. This latest feature underscores Safe’s commitment to providing a secure, efficient, and user-friendly platform for managing digital assets.

For more information, read: Safe and Base Collaborate to Boost Smart Account Adoption on Ethereum.

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Company

Get Latest Updates!

    Get all the latest updates on the crypto scene, including access to exclusive airdrops.

    cryptochronicle.xyz @2024. All Rights Reserved.