CoW Swap Brings Intent-Based Trading to Solana via NEAR Intents Infrastructure

CoW Swap, a decentralized exchange known for its unique Coincidence of Wants (CoW) mechanism, is expanding its reach to the Solana blockchain. This move leverages NEAR Intents as a backend infrastructure to enable intent-based cross-chain settlement. The following Q&A explores what this expansion means for traders, how NEAR Intents powers it, and why Solana was chosen.

What exactly is CoW Swap?

CoW Swap is a decentralized exchange (DEX) that focuses on protecting users from MEV (maximal extractable value) attacks and minimizing slippage. Instead of relying on a traditional order book or automated market maker (AMM), CoW Swap uses a batch auction system combined with a Coincidence of Wants (CoW) mechanism. This means that when two traders want to swap tokens that are in opposite directions—for example, Alice wants ETH for DAI and Bob wants DAI for ETH—the protocol can match them directly without going through a liquidity pool. This results in better prices and zero slippage for those matched orders. For unmatched orders, CoW Swap routes through existing DEXs like Uniswap, but always aims to find a CoW first. The platform is non-custodial and uses a solver network to optimize execution. Originally built on Ethereum and Ethereum-compatible chains, CoW Swap is now expanding to Solana to bring these benefits to a faster ecosystem.

CoW Swap Brings Intent-Based Trading to Solana via NEAR Intents Infrastructure — Source: thedefiant.io

What role do NEAR Intents play in this expansion?

NEAR Intents is a cross-chain framework that allows users to express their trading intentions—like “I want to swap 100 USDC for as much SOL as possible at the best price”—and then have those intentions settled across multiple blockchains. In this partnership, NEAR Intents serves as the backend infrastructure for CoW Swap on Solana. Essentially, when a user on Solana submits a trade through CoW Swap, their order is translated into an intent that NEAR Intents processes. The NEAR Intents system coordinates with solvers across different chains (Ethereum, NEAR, Solana, etc.) to find the optimal route, whether that’s a direct CoW match on Solana or a multi-chain settlement. This allows CoW Swap to operate on Solana without building its own cross-chain router from scratch. As NEAR Intents continues to develop cross-chain intent settlement capabilities, CoW Swap gains a ready-made engine for executing complex orders securely and efficiently.

Why did CoW Swap choose to expand to Solana?

Solana offers high throughput, low transaction costs, and a growing DeFi ecosystem, making it an attractive chain for execution. CoW Swap’s core value—reducing MEV and offering better prices—is especially needed on Solana, where MEV extraction (like sandwich attacks) can be more pronounced due to the chain’s speed and high-frequency trading environment. Additionally, Solana handles thousands of transactions per second with minimal fees, which aligns with CoW Swap’s batch auction model that benefits from low-cost, rapid order matching. By expanding to Solana, CoW Swap opens its intent-based trading to a larger user base and provides a seamless way for Solana-native users to access CoW protection without leaving the chain. The move also leverages Solana’s liquidity, which has grown significantly in recent years, increasing the chance of finding Coincidence of Wants matches. Ultimately, the expansion is a strategic step to become a truly multi-chain DEX aggregator.

How does CoW Swap on Solana differ from a traditional Solana DEX?

A traditional Solana DEX—like Jupiter or Raydium—either aggregates liquidity from AMMs or uses an order book system. CoW Swap on Solana, powered by NEAR Intents, works differently: it first attempts to match user orders directly with opposing orders within the same batch settlement. This can result in zero slippage and no liquidity provider fees for matched orders. If no direct match exists, CoW Swap will still execute the trade through existing Solana DEXs, but it seeks the best available price across all routes. Additionally, CoW Swap’s batch auctions are designed to protect users from frontrunning and sandwich attacks, which are common on blockchains where transactions are visible in the mempool. On Solana, because transactions are usually processed sequentially but still visible, CoW Swap’s intents add a layer of obfuscation: the exact route is determined off-chain by solvers, making it harder for MEV bots to exploit. So while traditional DEXs focus on pure liquidity aggregation, CoW Swap adds an extra layer of optimization and protection.

What benefits does this bring to users on Solana?

Users on Solana gain several advantages from CoW Swap’s expansion. First, they can execute trades with reduced slippage and lower gas costs because a CoW match avoids paying AMM fees. Second, they get protection from MEV attacks: since CoW Swap uses off-chain solvers that batch orders, it’s much harder for bots to sandwich or frontrun a user’s transaction. Third, the integration with NEAR Intents means users can potentially access liquidity from multiple chains—if a trade can be settled more cheaply on Ethereum or NEAR, the intent system will automatically route it there, ensuring the best possible price. Fourth, the user experience remains simple: they just specify their desired swap, and the protocol handles the rest. Finally, CoW Swap’s reputation for fairness (no hidden fees, no precedence to large orders) extends to Solana. In essence, Solana traders can now enjoy the same fair and efficient trading experience that Ethereum users have had, but with Solana’s speed.

How does cross-chain intent settlement work in practice?

Cross-chain intent settlement via NEAR Intents works by having users sign a message that defines their trade intention (e.g., “I want to swap 10 USDC on Solana into ETH on Ethereum at a minimum rate of 0.005 ETH”). This intent is sent to the NEAR Intents network, where a set of solvers compete to fulfill it. The solvers may have inventory on multiple chains and can lock funds temporarily. They choose the most efficient path—perhaps swapping USDC to USDT on Solana, bridging to Ethereum, then swapping to ETH, or directly using a liquidity provider that supports cross-chain swaps. The solver then submits a fulfillment proposal back to NEAR Intents, which verifies it. Once the settlement is finalized on all chains involved, the user receives their desired token. NEAR Intents handles the atomicity and security using NEAR’s chain abstraction and cryptographic proofs. For CoW Swap on Solana, this means a user’s order might be matched with another CoW Swap user on Ethereum, even if they are on different chains, as long as the intent can be coordinated. This dramatically expands the pool of possible matches.

What does the future hold for CoW Swap on Solana?

The immediate future includes testing the integration and gradually onboarding more solvers to handle Solana-based intents. CoW Swap plans to release a public beta on Solana shortly, allowing users to start submitting intents. Over time, the team hopes to optimize the solver competition to make cross-chain CoWs as seamless as single-chain ones. Additionally, as NEAR Intents adds support for more blockchains, CoW Swap could expand further—to chains like Avalanche, Polygon, or even Layer 2s. The ultimate goal is to create a unified liquidity network where users anywhere can trade with minimal friction and maximum security. On Solana specifically, we might see specialized solvers that focus on high-frequency trading pairs or meme tokens, taking advantage of Solana’s speed. CoW Swap also intends to educate Solana users about the benefits of intent-based trading, possibly through gamified rewards or incentive programs. The expansion marks a significant step toward a truly interconnected DeFi ecosystem.