Glossary
TWAP
Time-Weighted Average Price — the average price over a time window. Used both as a manipulation-resistant oracle and as a trader execution strategy.
TWAP averages a price over time, giving each interval equal weight. Uniswap v2 and v3 expose TWAP-flavored cumulative-price oracles that protocols read to value collateral resistant to short-term manipulation: even if an attacker pushes the spot price for one block, the TWAP barely moves.
As an execution strategy, a TWAP order splits a large trade into many small slices over a chosen period — minimizing price impact at the cost of execution risk over the window. CoW Protocol and TWAMM-style AMMs make TWAP execution a first-class on-chain primitive.