I found out about it exactly 2 days ago.
So how does it work?
Off-chain trades are grouping by choosen pairs and it is send in batch for single transaction fee instead of multiple ones. For time being there is an extra promotion from creators. They decided to cover ~90% of transaction fee (time limited - there is no information when that ends). Under the hood CowSwap use Uniswap.
Where is the catch?
In the future transactions fee will be covered from what you will earn on trade i.e. You sell some ERC-20 tokens for 1 ETH and fee will be covered from it. So instead of getting 1 ETH, you will be getting 0.991 ETH (more or less all depends on current gas price). But for now promotion is still active and you will pay only 10% of gas.
Here is how swap page looks like after you are logged in using i.e. Metamask
And swap look like that:
For that trade I've paid approx. $3 instead of ~$60+ so it really can make the difference if you trade a lot or just want to increase profitability :)
This content is intended to be used and must be used for informational purposes only.
Important message from creators to acknowledge
The code has been carefully tested and peer-reviewed. Although this can be seen as a step forward in terms of security, it's recommended to use the protocol at your own risk
Are you interested in Programming check my blog: charubiniak.pl
My personal token can be trade on centralized exchange: kanga exchange CHAR-ETH
All details about token can be found: CHAR personal token
Don't have account at binance (get 10% from commision back on every trade): binance