📄️ Intents
Rather than placing orders by signing a raw transaction**_ that executes directly on-chain (i.e. as happens on Uniswap or SushiSwap), CoW Protocol users place orders by signing an "intent to trade" message_ that specifies parameters like the assets and amounts they would like to trade.
📄️ Solvers
CoW Protocol delivers optimal price outcomes by leveraging an open solver competition for order matching.
📄️ Batch auctions
CoW Protocol collects and aggregates intents off-chain and settles them together in groups, known as batches.