Very cool new mechanism, treats the pool as a user and solvers compete to return surplus to the pool. Basically limit orders that exist perpetually according to the amm's spread. Still bounded by invariant and only accepts a trade if the invariant grows
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The dirty secret of AMMs is that many of their pools are leaking.
In fact, liquidity providers lose 5-7% of their profits to MEV every year, making *most liquidity pools* unprofitable.
That's why CoW DAO is building the first MEV-capturing AMM.
We call it CoW AMM.