Market makers offer trades through order book & make money on bid-ask spreads paid by takers.

0x is a non-custodial exchange protocol built on Ethereum. 0x was founded by Amir Bandeali & Will Warren and launched in 2016.

ZRX tokenholders own and govern the protocol. They currently do not take any of the total trading fees paid by traders (revenue). 0x’s investors include Coinbase Ventures, Jump Capital, Pantera Capital, etc.

governance

github

twitter

discord

etherscan

website

Exchanges (DEX)

# 0x Trading volume Methodology

## 1. Overview

The 0x trading volume metric measures the total USD value of trades executed through the 0x protocol across supported blockchain networks. This metric captures decentralized exchange (DEX) trading activity facilitated by 0x's order book infrastructure, aggregating daily trading volumes by chain and business dimensions. The calculation uses pre-processed trade data that includes USD-denominated volumes and trading pair information.

## 2. Data sources

The metric relies on the following raw data sources:
- **0x protocol transaction data**: Scraped trading transactions from 0x protocol contracts across multiple blockchain networks
- **Pre-calculated USD volumes**: Trading volumes already converted to USD values from the original trade events
- **Token metadata**: Maker and taker token symbols used to identify trading pairs
- **Blockchain transaction records**: Transaction hashes, log indices, and block timestamps for trade identification
- **Chain identification data**: Blockchain network identifiers for multi-chain aggregation

## 3. Step-by-step calculation

### Component A: Trade data extraction and classification
- **Purpose**: Extract and categorize raw 0x trading data with business line classifications
- **Logic**: The system processes scraped 0x protocol transaction data, extracting key trade information including USD volume amounts, token pair details, and transaction metadata. Each trade is classified under the 'Exchange Order Book' business line within the 'exchanges' market sector and 'dex' business segment. Trading pair names are constructed by concatenating the `takerTokenSymbol` and `makerTokenSymbol` with a hyphen separator. Chain identifiers are normalized to lowercase for consistency.
- **Key fields**: `volumeUSD` (pre-calculated USD trading volume), `takerTokenSymbol` and `makerTokenSymbol` (token identifiers), `timestamp` (trade execution time), `transaction_hash` and `log_index` (unique trade identifiers), `chain` (blockchain network)

### Component B: Daily aggregation and grouping
- **Purpose**: Aggregate individual trades into daily trading volume totals by business dimensions
- **Logic**: Trade timestamps are truncated to daily boundaries using day-level granularity. Trades are then grouped by the truncated timestamp, chain identifier, market sector, business segment, and product dimensions. Within each group, all individual `trading_volume` amounts are summed to produce total daily trading volume for that combination of dimensions.
- **Key fields**: `timestamp` (daily boundary), `chain_id` (normalized chain identifier), `market_sector_id` ('exchanges'), `business_segment_id` ('dex'), `trading_volume` (aggregated USD volume)

### Final aggregation
- **Combining components**: The daily aggregated trading volumes are processed through a finalization macro that validates the data schema, ensures proper business dimension classification, and applies gap-filling logic
- **Currency conversion**: USD conversion is handled upstream in the source data, with volumes already denominated in USD through the `volumeUSD` field
- **Time aggregation**: Daily boundaries are established by truncating block timestamps to day-level granularity, ensuring all trades within a 24-hour period are grouped together
- **Final calculation**: The final metric value represents the sum of all trading volumes in USD for each day, chain, and business dimension combination, with zero-fill strategy applied to ensure complete time series coverage without gaps

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value of spot trades executed on the exchange.

0xZRX

Archived

Trading volume

Trading volume

Competitive landscape

Chain breakdown