Solver competition · CoW Protocol on Base
Two-fifths of all Base volume went to one solver in the last 90 days.
244,607 batches258,732 trades$405M volume25 solversto 21:32 UTC
Rizzolver39.2%1 square = $100,000
- Rizzolver39.2%
- Sector Finance12.5%
- Kipseli9.6%
- BRRRolver9.6%
- Wraxyn7.2%
- Nexroute6.3%
- 19 others15.6%
Who is winning
Rizzolver leads with 39.2% of volume, 3.1× Sector Finance’s share.
1Rizzolver39.2%$159M31% in26% win357K gas
2Sector Finance12.5%$50.5M66% in16% win577K gas
3Kipseli9.6%$38.9M45% in11% win817K gas
4BRRRolver9.6%$38.8M51% in14% win787K gas
5Wraxyn7.2%$29.2M45% in12% win880K gas
6Nexroute6.3%$25.7M46% in41% win509K gas
7Helixbox4.1%$16.7M67% in34% win790K gas
8BitGet3.2%$13.0M61% in3% win1.15M gas
9Fibrous3.2%$12.9M58% in25% win811K gas
10Arc1.4%$5.50M38% in15% win1.47M gas
11Tsolver1.2%$5.02M40% in1% win753K gas
12Horadrim0.7%$2.67M47% in3% win454K gas
13Elfomo0.5%$2.03M11% in3% win603K gas
14Dfusion0.3%$1.25M1% in14% win573K gas
15ParaSwap API0.2%$764K1% in35% win760K gas
16Rosato0.2%$733K34% in5% win735K gas
Rosato
0.2%±0.0 pp since 13 Aug
Batches
3,541
1.4% of all batches
Trades
3,541
1.00 per batch
Volume
$733K
$207 per trade
Batch value
$207
Network average $1.66K
Gas/trade
735K
4% above network average
Cost/trade
1.1¢
Network average 2.2¢
DEX swaps/trade
2.00
Network average 1.98
Typical surplus
44 bps
85% of its surplus is unusual
Entered
34%
Average solver 33%
Win rate
5%
Won 1.6% of all auctions
Filtered out
0%
0 of 77,147 solutions
Lost by 1% or less
23%
Of its 62,829 single-winner losses
Quotes
624
0.2% of quoted trades, 97% verified
Settled itself
20%
Network average 26%
Latest 24 auctions
Entered 19, won 0 of the latest 24#11 batches · #13 trades · #16 volumeLatest settlements
20:45:00USDC → ETH
20:00:09VVV → USDC
19:14:53VVV → USDC
19:14:23FLOWER → ETH
18:53:53VVV → USDC
17Portus0.1%$606K8% in1% win1.04M gas
18Kaisersolver0.1%$543K53% in5% win334K gas
19DSolver0.1%$538K41% in2% win443K gas
20Arctic Bastion0.1%$531K1% in<1% win3.57M gas
21Trusted Volumes0.1%$231K7% in1% win444K gas
22Baseline<0.1%$142K27% in6% win299K gas
23OKX<0.1%$33.5K26% in1% win689K gas
24Zurui<0.1%$4.97K1% in2% win291K gas
25Balancer API<0.1%$3.60K11% in2% win606K gas
Open a row for details. No earlier window to compare yet. 12 Aug 21:32 – 10 Nov 21:32 UTC.Source: CoW Protocol API · Base settlement events
Is it changing
Rizzolver has topped daily volume for 2 days in a row, taking over from Wraxyn.
All solversDaily volume · 90 days
$4.50Mvolume a day, last 90 days · no earlier window to compare yet
Daily volume across all solvers, 13 Aug to 10 Nov: between $1.09M and $18.0M a day.13 Aug10 Nov
Rizzolver#1
39.2%+27.6 pp
Rizzolver: daily share of volume from 36.1% on 13 Aug to 63.7% on 10 Nov.Sector Finance#2
12.5%−13.7 pp
Sector Finance: daily share of volume from 17.2% on 13 Aug to 3.5% on 10 Nov.Kipseli#3
9.6%−3.7 pp
Kipseli: daily share of volume from 6.3% on 13 Aug to 2.6% on 10 Nov.BRRRolver#4
9.6%+2.7 pp
BRRRolver: daily share of volume from 9.1% on 13 Aug to 11.8% on 10 Nov.Wraxyn#5
7.2%−12.4 pp
Wraxyn: daily share of volume from 14.2% on 13 Aug to 1.7% on 10 Nov.Nexroute#6
6.3%+3.2 pp
Nexroute: daily share of volume from 0.0% on 13 Aug to 3.2% on 10 Nov.Helixbox#7
4.1%−2.8 pp
Helixbox: daily share of volume from 3.2% on 13 Aug to 0.4% on 10 Nov.BitGet#8
3.2%−4.8 pp
BitGet: daily share of volume from 5.9% on 13 Aug to 1.1% on 10 Nov.Daily share of volume, top 8, same scale (0–80%). Change since 13 Aug.13 Aug – 10 Nov
Who enters, who wins
On average, 8.2 solvers enter each auction, submitting about 10 competing solutions. Helixbox enters 67% of auctions and wins 34% of those.
EnteredWon
in · win rate · filtered out
Helixbox67% · 34% · 5.3%
Nexroute46% · 41% · 4.6%
Fibrous58% · 25% · 0%
Sector Finance66% · 16% · 2.1%
Rizzolver31% · 26% · 0%
BRRRolver51% · 14% · 4.8%
Arc38% · 15% · 0.1%
Wraxyn45% · 12% · 0%
Kipseli45% · 11% · 0.1%
Kaisersolver53% · 5% · 1.9%
Rosato34% · 5% · 0%
Baseline27% · 6% · 1.5%
Horadrim47% · 3% · <0.1%
BitGet61% · 3% · 0%
DSolver41% · 2% · 0%
Tsolver40% · 1% · 4.5%
Elfomo11% · 3% · 2.1%
ParaSwap API1% · 35% · 2.2%
OKX26% · 1% · 0%
Balancer API11% · 2% · 0.3%
Dfusion1% · 14% · 3.9%
Trusted Volumes7% · 1% · 0%
Portus8% · 1% · 1.1%
Zurui1% · 2% · 0%
Arctic Bastion1% · <1% · 0%
0%50%100%0%50%100% of auctions
Latest 48 auctions
#29,918,173 · 21:26:59 UTC · 11 entered · won by FibrousClick an auction to see its solutions. Filtered out: the share of a solver’s solutions that CoW’s fairness filter removed; a filtered-out solution cannot win.Source: CoW Protocol solver-competition API
Quotes
Share of quoted tradesIn the last 90 days, 254,140 of 258,732 trades were placed with a solver’s quote. CoW had verified 95.4% of those quotes by simulating them. Rizzolver gave 17.1% of all those quotes. The solver that gave the quote settled 26.4% of those trades itself.
QuotedSettled itself
share · settled itself · verifiedshare · settled itself
Rizzolver17.1% · 26% · 99%17.1% · 26%
Nexroute15.9% · 51% · 94%15.9% · 51%
Kipseli11.1% · 9% · 95%11.1% · 9%
Kaisersolver10.9% · 3% · 98%10.9% · 3%
Wraxyn9.5% · 30% · 95%9.5% · 30%
Fibrous8.9% · 27% · 99%8.9% · 27%
Sector Finance6.8% · 25% · 94%6.8% · 25%
BitGet5.0% · 5% · 99%5.0% · 5%
Helixbox4.9% · 63% · 79%4.9% · 63%
Baseline2.9% · 33% · 99%2.9% · 33%
Arc2.6% · 9% · 95%2.6% · 9%
BRRRolver2.5% · 28% · 89%2.5% · 28%
Balancer API1.0% · 9% · 98%1.0% · 9%
Horadrim0.3% · 1% · 86%0.3% · 1%
Rosato0.2% · 20% · 97%0.2% · 20%
Elfomo0.2% · 1% · 70%0.2% · 1%
DSolver0.1% · 2% · 1%0.1% · 2%
Dfusion0.1% · 22% · 91%0.1% · 22%
Tsolver<0.1% · 2% · 100%<0.1% · 2%
0x API<0.1% · 0% · 100%<0.1% · 0%
Portus<0.1% · 0% · 100%<0.1% · 0%
0%10%20%0%10%20% of quoted trades
Verified: CoW checked the quote by simulating it. Settled itself: the solver that gave the quote also settled the trade. These figures do not show quote rewards, which CoW pays by a different rule. ParaSwap API, Arctic Bastion, Trusted Volumes, OKX and Zurui gave no quotes.Source: CoW Protocol order book
Latest settlements
All solvers · newest firstIn the last 90 days, CoW’s protocol fees totaled $171,379 (4.2 bps of volume) and partner fees $159,686 (3.9 bps).
21:27:06FibrousUSDC → AAA
21:26:54NexrouteCADC → USDC
21:26:48FibrousNVDAc → USDC
21:26:36FibrousMEZO → USDC
21:25:43FibrousUSDC → AAA
21:25:26DfusionUSDC → USDT +13
21:22:25NexrouteUSDC → USDT
21:22:07HelixboxTIBBIR → USDC
21:21:50NexrouteVVV → USDC
Transaction cost: what the transaction paid on Base, including the L1 data fee. Fees: charged on the settlement’s trades by CoW’s protocol and by partners. Quoted by: the solver whose quote the first trade’s order was placed with.Source: CoW Protocol API · Base settlement events
How efficiently
Rizzolver uses the least gas per trade among solvers with 9,000+ batches: 357K, against a network average of 707K. Across the network, a trade takes 1.98 DEX swaps on average. Transaction cost averages 2.2¢ per trade, including the L1 data fee.
Network averageFewer than 30 tradesDot size: trades
Gas per trade · average 707KCost per trade · average 2.2¢DEX swaps per trade · average 1.98CostSwaps
Zurui291K0.5¢1.11
Baseline299K0.4¢1.39
Kaisersolver334K0.6¢1.63
Rizzolver357K5.6¢1.39
DSolver443K3.9¢1.29
Trusted Volumes444K1.1¢2.85
Horadrim454K0.8¢2.14
Nexroute509K0.8¢2.86
Dfusion573K0.8¢2.97
Sector Finance577K1.1¢1.56
Elfomo603K1.0¢7.43
Balancer API606K0.9¢2.42
OKX689K1.6¢1.41
Rosato735K1.1¢2.00
Tsolver753K4.1¢1.33
ParaSwap API760K1.0¢1.35
BRRRolver787K3.2¢2.52
Helixbox790K3.0¢1.46
Fibrous811K1.3¢2.74
Kipseli817K2.9¢1.26
Wraxyn880K1.8¢1.62
Portus1.04M6.3¢2.36
BitGet1.15M1.9¢1.65
Arc1.47M4.0¢1.32
Arctic Bastion3.57M6.5¢1.71
0500K1M1.5M2M02¢4¢6¢8¢02468
Values beyond an axis range sit at its end, marked ›.Cost: transaction cost per trade. Swaps: DEX swaps per trade. Values beyond the axis range sit at its end, marked ›.Source: Base settlement transactions · Chainlink ETH/USD
Trader surplus
Basis points of volumeIn the last 90 days, trades beat the limit prices their users signed by $5,794,174. The 14.6% of trades with limits far from the market account for 41.8% of that. Leave those out and typical trades beat their limits by 85 bps of volume, $15.27 a trade.
Typical tradesAll tradesNetwork average, typical tradesFewer than 30 trades
Typical surplus · average 85TypicalbpsAll tradesUnusual
Rizzolver6810637%
Sector Finance9712422%
Kipseli669330%
BRRRolver9814835%
Wraxyn12518635%
Nexroute8920858%
Helixbox8418355%
BitGet11016835%
Fibrous11628561%
Arc17056373%
Tsolver9312427%
Horadrim66706%
Elfomo818910%
Dfusion131724%
ParaSwap API12838068%
Rosato4425485%
Portus5121978%
Kaisersolver13498589%
DSolver17724630%
Arctic Bastion16069782%
Trusted Volumes243939%
Baseline14017120%
OKX28766062%
Zurui246246<1%
Balancer API759420%
0100200300
Unusual: surplus above a tenth of the trade’s value, CoW’s cutoff. Values beyond the axis range sit at its end, marked ›. Sorted by volume.Unusual: surplus above a tenth of the trade’s value. Values beyond the axis range sit at its end, marked ›. Sorted by volume.Source: CoW Protocol API · Base settlement calldata
Methodology
- Batches
- Settlements a solver executed on Base in the window that filled at least one order. One auction can settle as several batches.
- Trades
- Orders filled inside those batches. An order filled in parts counts once per fill.
- Volume
- USD value of filled orders. Each trade counts at the lower of its sell and buy value, priced with the token prices CoW used in that auction and Chainlink’s ETH/USD rate at settlement. With only one side priced, that side counts; with neither, the trade adds nothing.
- Share
- A solver’s portion of all batches, trades or volume in the window.
- Gas per trade
- Gas units used by a solver’s settlements divided by trades filled. Units of gas, not cost. “Lowest gas per trade” considers only solvers with at least 100 batches per day of settlement data in the window, or every solver when none has that many.
- Transaction cost
- What a settlement transaction paid on Base: gas used × gas price, plus the L1 data fee, in USD at Chainlink’s ETH/USD rate in its block. A transaction that holds several batches splits its cost evenly between them, as it splits gas. Per trade: a solver’s cost divided by the trades it filled.
- DEX swaps
- Interactions in a settlement other than token approvals and WETH unwraps. Per trade: a solver’s swaps divided by the trades it filled.
- Batch value
- Volume divided by batches. Trades per batch is trades divided by batches.
- Surplus
- The USD value of a trade’s improvement over its user’s signed limit price, valued like Volume. Dune’s formula: value × (bought × limit sell − sold × limit buy) ÷ (bought × limit sell), where bought and sold are the executed amounts (sold without the fee) and the limits come from the settlement’s calldata. Compared in basis points (hundredths of a percent) of volume.
- Unusual surplus
- Surplus above a tenth of the trade’s value, CoW’s own cutoff (Dune query 1368423). It comes from limits set far from the market, such as very wide slippage or stale orders. “Typical surplus” excludes these trades; the unusual share is their portion of a solver’s surplus.
- Quote
- The quote an order was placed with: the best of the solvers’ quotes when the trader asked for a price, as CoW’s order book records it with the solver that gave it. Verified: CoW checked the quote by simulating it. Settled itself: the solver that gave the quote also settled the trade. Counted by trade. These figures say whose price traders signed against, not who earned quote rewards, which CoW pays by a different rule.
- Fees
- Protocol fees are CoW’s: on market orders, half of the improvement over the quote; on limit orders that execute beyond the market price, half of the surplus; either capped at 0.98% of volume; then a volume fee of 2 bps, or 0.3 bps for correlated pairs such as stablecoins. Partner fees are set by the integrator in the order, up to 100 bps, and apply after CoW’s own fees; CoW keeps a quarter as a service fee. Each is charged in the trade’s surplus token, as CoW’s trades API lists it, and valued at the trade’s own exchange rate. Fees follow the orders a solver settles; solvers do not set them.
- Network average
- Gas, transaction cost and DEX swaps per trade across all solvers on Base, weighted by trades. Typical surplus across all solvers on Base, weighted by volume.
- Entered
- Share of the window’s auctions in which the solver submitted at least one solution, even if CoW filtered it out. Only auctions that ended in a settlement count. “Average solver” is the mean Entered share among the table’s solvers that entered at least one auction.
- Win rate
- Share of the auctions a solver entered that it won, alone or with other winners.
- Score
- The value CoW’s protocol computes from each solution’s executed amounts to choose winners: roughly the surplus the solution generates for traders. It is in ETH; the page shows it in USD at Chainlink’s ETH/USD rate when the auction started. Below winner: how much lower a solution scored than the winning one, given only for auctions with a single winner, since in the others a solution competes with only one of the winners.
- Filtered out
- Removed by the fairness filter of CoW’s combinatorial auction (CIP-67). For each token pair traded in one direction, CoW takes the best solution with only that pair’s orders as a reference; a solution that batches several pairs is filtered out when it scores less on any of them than that reference. A filtered-out solution cannot win. A solver’s share: its filtered-out solutions divided by all its solutions.
- Lost by 1% or less
- Of the auctions with one winner that a solver entered and lost with a solution that passed the filter, the share in which its best such solution scored at most 1% below the winning score.
- Leading since
- First day of the current unbroken run in which the same solver alone ranked #1 by daily share of the selected measure.
- Sources
- Settlement events, calldata, receipts and token symbols on Base, the settlement contract’s on-chain solver allow-list, CoW Protocol’s solver-competition API, order book and trades API, CoW’s solver registry and Chainlink’s ETH/USD feed.
- Dune
- Surplus follows Dune’s definition (Spellbook’s cow_protocol_base.trades) with one difference: trades are valued at the lower of their two sides, as Volume is, where Dune takes the higher. Buy-order surplus follows Dune’s formula, which comes out slightly below CoW Explorer’s figure.
- Attribution
- Settlements through CoW’s flash-loan router are credited to the transaction’s recipient if it is a registered or allow-listed solver other than the router, else to its sender if it is registered or allow-listed, else to the winner CoW’s solver-competition API names for the transaction; failing that, to the sender.
- Registry
- Status and submission addresses from CoW’s solver registry for Base, plus addresses that settle on Base and are on the settlement contract’s on-chain solver allow-list but are not listed as active for that network. These additional addresses are shown as active; today there is one, Rizzolver’s 0x8f58…5cb7. A retired address is one the registry marks inactive.
- Freshness
- Updated every 10 minutes. The figures run to block 55,778,423, produced 10 Nov 2026 at 21:32 UTC.
- Windows
- Rolling, ending at the newest block in the data. Longer windows add up daily windows; rates such as Entered and Win rate are taken over all of a window’s auctions together.
- Coverage
- Settlement history goes back 180 days, auction history 90 days, surplus history 90 days and auction details (solutions, quotes and fees) 90 days. Volume, Entered and Win rate require auction data; surplus also requires signed order terms. In longer windows, these figures cover only the days with the required data, as noted on the page.
- Names
- From CoW’s public solver registry. Solvers without a public name are shown by address.