eicker.crypto 🧠 crypto newsMar 17
A trader lost 50M USD in USDT when swapping for AAVE tokens due to legacy code failures and solver issues on CoW Swap - the worst execution loss in DeFi history. CoW Swap attributes it to stale gas ceiling and solver failures, while Aave blames an illiquid market. https://thedefiant.io/news/defi/cow-swap-points-to-legacy-code-and-solver-failures-in-usd50m-loss #Blockchain #Crypto #DeFi #CoWSwap
CoW Swap Points to Legacy Code and Solver Failures in $50M Loss That Aave Attributes to Illiquid Market

While Aave blamed an illiquid market, CoW Swap identified a stale gas ceiling, silent solver failures, and a possible mempool leak that turned a bad trade into the worst execution loss in DeFi history.

The Defiant
Midnight 🚀Oct 21, 2023

An experiment with
#CoWSwap using "limit orders" to swap an ERC20 with low liquidity without as much slippage: Anyone have a few #CAT20 (NFT20 pool token for #MoonCats) wanting to sell for ETH? If you trade it on CoW Swap, it should have low slippage, as my order should help.

CAT20 is "pegged" to the floor price of MoonCats, but the #AMM pools don't know that. Users setting limit orders for FMV could be better market-makers than AMM pools in that case.

#Ethereum #crypto #defi #blockchain