> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cow.bleu.builders/llms.txt
> Use this file to discover all available pages before exploring further.

# TWAP API

> API reference for TWAP (Time-Weighted Average Price) programmatic orders.

# TWAP API

TWAP (Time-Weighted Average Price) orders split transactions into multiple parts executed at regular intervals, helping traders achieve better average prices.

## Key Parameters

| Parameter        | Type      | Description                                  |
| ---------------- | --------- | -------------------------------------------- |
| `sellToken`      | `IERC20`  | Token being sold                             |
| `buyToken`       | `IERC20`  | Token being purchased                        |
| `receiver`       | `address` | Recipient of bought tokens                   |
| `partSellAmount` | `uint256` | Amount per execution part                    |
| `minPartLimit`   | `uint256` | Minimum buy amount per part                  |
| `t0`             | `uint256` | Start timestamp (0 for dynamic from cabinet) |
| `n`              | `uint256` | Number of parts                              |
| `t`              | `uint256` | Interval between parts (seconds)             |
| `span`           | `uint256` | Validity window per part                     |
| `appData`        | `bytes32` | IPFS metadata hash                           |

## Core Function

The `getTradeableOrder()` function returns the currently executable order portion. It:

1. Decodes input data
2. Retrieves the start time if needed from protocol storage
3. Generates the appropriate order for the present moment
4. Confirms it remains within valid timeframes

## Validation Requirements

Orders fail validation when:

* Tokens are identical
* Either token is zero-addressed
* Sell amounts equal zero
* Price limits are zero
* Timing parameters exceed allowed ranges
* `span` exceeds interval frequency
* Execution windows have expired

The system ensures each order segment has a unique identifier, preventing accidental duplicate settlements.

## Technical Notes

* TWAP orders function as non-partial sells with zero fees
* The protocol itself manages fee distribution
* Each execution segment receives its own expiration timestamp, creating distinct order identifiers across the entire sequence