CoW Swap Launches TWAP Orders

Quick Take

– CoW Swap supports TWAP orders.
– Connext Network $NEXT airdrop.
– Genesis supply for the Holesky testnet.
– Fire to release a smart wallet.

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The price of ETH is down more than 10% over the last 24 hours and is currently trading at $1,638. The price drop comes amid a broader market downturn as China Evergrande, the second-largest property developer in China, filed for Chapter 15 bankruptcy protection in New York. The news led to a sell-off, resulting in over $700 million being wiped from the crypto market in a matter of minutes.

CoW Swap Launches TWAP Orders

DEX aggregator CoW Swap now supports Time Weighted Average Price (TWAP) orders, allowing users to execute large trades over time. Users can fully customize TWAP orders including the number of parts and the total amount of time to complete an order. Users can also enable protection against significant price movements. TWAP orders provide better protection against slippage, price impact, and market fluctuations. The orders also benefit from CoW Swap’s MEV protection, gasless trading, and order surplus. TWAP orders are currently only available for Safe wallets that have upgraded their default fallback handler to support ERC-1271 signatures.

Connext Network NEXT Airdrop

Cross-chain bridge protocol Connext Network announced a cross-chain airdrop for its NEXT token. The airdrop will go live on September 5th and will allow eligible users to claim their NEXT tokens on the chain of their choice, including Arbitrum, Optimism, Polygon, or Gnosis. Users can check eligibility criteria on airdrop.connext.network. NEXT itself will be an xERC-20 cross-chain native governance token for the Connext DAO and ecosystem. Future use cases for NEXT include staking functionality. There will be a total of 1 billion NEXT tokens with 30% allocated to the DAO, 10% allocated to the airdrop, 10.8% allocated to the foundation, and the remaining 49% allocated to early backers, team members, and investors.

Holesky Testnet September 15 Launch

Holesky, Ethereum’s upcoming testnet, is scheduled to go live on September 15th, coinciding with the one-year anniversary of Ethereum’s shift to PoS. There will be 1.6 billion Holesky ETH available at Genesis. Development teams have the opportunity to secure a portion of the initial allocation by participating in a public request process.

Fire Announces Fire Smart Wallet

Ethereum transaction simulator Fire announced plans to release its own smart wallet. Users can currently sign up for a waitlist to join a beta release of the wallet. Fire is a read-only browser extension that analyzes contract calldata to display a preview of what would happen if a transaction is executed. Fire did not specify a timeline for the wallet’s release.