CoW is a DeFi protocol that allows users to trade cryptocurrencies at lower fees by matching peer-to-peer trades and searching across all exchanges for the best price. The protocol is governed by CoW DAO, whose members vote on proposals using the native CoW token. The purpose of the DAO is to manage the infrastructure of the CoW ecosystem by overseeing system parameters, allocating funds, and determining incentives. One of the main initiatives that CoW DAO launched was the CoW Grants Program, with the main mission being to fund the growth of the CoW Protocol ecosystem. While an initial process to govern the CoW Grants Program was established, it lacked the transparency, openness, and flexibility DeFi strives for, and needed a change.