Additional benefits

CoW Protocol's intent-based trading model and batch auctions mechanism come together to provide a number of benefits, including support for expressing any intent, MEV protection, and price improvement.

There are also several additional benefits unique to CoW Protocol that every order inherits:

Gasless trades (users pay settlement fees in their sell token; settlement fees can be lower than gas fees if the trade is included in a batch)
No fees for failed or cancelled orders (most exchanges make users pay gas fees regardless of whether their order executes or not)
Order settlement at Ethereum Best Bid Offer or better
Support for placing multiple orders at once
Slippage protection on all orders

The protocol's architecture also provides important "passive" benefits and supports niche trading use-cases:

Minimized smart contract risk as solvers take on the exposure to all on-chain AMMs
Support for tapping straight into exotic tokens as solvers abstract away intermediate steps like depositing, minting, and staking
Tighter spreads from private market makers thanks to fast settlement of off-chain orders
Increased gas efficiency as all trades are credited directly to user accounts without withdrawals or deposits into an exchange contract
Increased security as funds can only be transferred if a trader has approved the contract and signed an order to sell the given token for another
A guarantee that the limit prices and amounts of any given signed order will always be satisfied
Signed orders have an expiry date and they can be cancelled on-chain, preventing exploits where orders can be re-executed by relying on old approvals
Only solvers subject to slashing can execute the batch auction settlement
Fair, decentralized settlement in which an open competition for order matching replaces a central operator or a constant function market maker