Key Takeaways
- Safe has integrated a native token swap feature directly into Safe{Wallet} in partnership with CoW Protocol.
- This eliminates the need for users to navigate to external platforms for swaps, providing a more streamlined and user-friendly experience.
- The integration leverages CoW Protocol’s advanced aggregation and intent-based architecture, supporting batched execution and reducing errors in multi-signature transactions.
Safe, the smart account infrastructure provider, today unveiled a native token swap feature integrated directly into Safe{Wallet}, the world’s most popular multisig wallet. This innovation, in collaboration with CoW Protocol, aims to enhance the user experience by offering seamless, low-cost, and secure token swaps.
The newly introduced feature leverages CoW Protocol’s sophisticated aggregation and intent-based architecture, tapping into a vast liquidity pool across decentralized exchanges. This integration is designed to provide Safe{Wallet} users with highly competitive prices and an extensive selection of tokens, facilitating effortless trades.
Safe{Wallet} has demonstrated significant traction, with an average monthly swap volume of $450 million since June 2023, peaking at nearly $1 billion in March. This high volume underscores the strong demand for integrated asset swaps within the Safe community. Over the past three years, Safe Smart Accounts have facilitated a staggering $23 billion in swap volume, highlighting the platform’s crucial role in the DeFi landscape.
The integration marks a notable improvement for Safe{Wallet} users, who previously had to rely on external platforms to conduct token swaps. By embedding this feature within Safe{Wallet}, users can now receive quotes from multiple decentralized liquidity sources directly, ensuring they obtain optimal prices. This direct interaction with CoW Protocol simplifies the trading process and enhances user convenience.
Moreover, the intent-based swap mechanism employed in this integration supports batched execution, reducing the risk of errors or expirations often 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 (Miner Extractable Value) protection.
The introduction of native swaps comes at a pivotal moment for smart accounts, which are poised to surpass traditional Externally Owned Accounts (EOAs) as the preferred solution in the Web3 space. Safe continues to lead this transition, evidenced by its impressive ecosystem growth. Recently, Safe{DAO} community voted to make the SAFE token transferable, further solidifying Safe’s position in the market.
“Native token swaps are a game-changer for Safe{Wallet} users, prioritizing seamless experiences and MEV protection through an intent-based architecture,” Lukas Schor, Co-Founder of Safe, said in a statement.
“Safe is the most secure way to own assets. We share the Safe team’s vision for seamless and reliable transactions. Our collaboration streamlines the swapping process for Safe{Wallet}’s extensive user base while contributing to the continued growth of the CoW Protocol ecosystem,” Anna George, Co-founder of CoW Protocol, said.
With over 7.5 million Safe smart accounts created since its launch—an impressive 290% year-over-year growth—Safe is cementing its status as a cornerstone of the DeFi sector. This latest feature reinforces Safe’s commitment to providing a secure, efficient, and user-friendly platform for managing digital assets.
Read Also: Safe and Base Collaborate to Boost Smart Account Adoption on Ethereum
