The 1inch Aggregation Protocol routes users' trades through the most efficient path for a token swap and aggregates multiple non-custodial exchanges.

The 1inch Network unites multiple decentralized protocols built on Ethereum and other blockchains. This dashboard tracks the 1inch Aggregation Protocol, which is a non-custodial DEX aggregator. 1inch was founded by Sergej Kunz & Anton Bukov and launched in 2019.

The 1inch Network is governed by 1inch DAO – a decentralized autonomous organization. Voting on the DAO is performed through the 1INCH token, a governance token, that was initially distributed to the community of 1inch Network users in late 2020. They currently do not take a cut of the total trading fees paid by traders (revenue). 1inch's investors include ParaFi Capital, FTX Exchange, Pantera Capital, etc.

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# 1inch Trading volume Methodology

## 1. Overview

Trading volume measures the total daily USD value of trades executed through 1inch protocol across multiple blockchain networks. Trading activity from both 1inch's native AMM pools (Mooniswap) and their DEX aggregation services is captured, providing insight into the platform's total trading throughput. Trade data from multiple 1inch protocol versions and chains is aggregated, amounts are converted to USD using end-of-day price feeds, and anti-manipulation filters are applied to ensure data quality.

## 2. Data sources

- **Blockchain events**: `Swapped`, `OrderFilled`, and `OrderFilledRFQ` events, as well as `swap`, `unoswap`, `clipperSwap`, and `fillOrder` function calls are parsed from `Mooniswap`, `OneInchExchange`, `AggregationRouterV3`, `AggregationRouterV4`, `AggregationRouterV5`, and `AggregationRouterV6` contracts, plus ERC-20 `Transfer` events, covering Ethereum, BNB Chain, Polygon, Arbitrum, and 7 other chains
- **External data**: End-of-day price feeds and asset metadata are consumed

## 3. Step-by-step calculation

### Component A: Raw trade data extraction

- **Purpose**: Extract all trading activity from 1inch protocol contracts across multiple chains and versions
- **Logic**: Trading data is collected from three main sources. First, contract events such as `Swapped` events from early protocol versions that directly emit source asset, destination asset, and amounts are processed. Second, function call traces from `swap`, `unoswap`, `clipperSwap`, and `fillOrder` functions across versions V1 to V6 that contain asset addresses and amounts in their parameters or outputs are extracted. Third, function calls that do not emit asset denomination data are handled by matching them with ERC-20 `Transfer` events in the same transaction, using amount matching to identify the correct transfers. Status filtering is applied to include only successful transactions, and native asset addresses (null or specific addresses) are converted to wrapped native asset addresses by joining with a wrapped native asset dimension table for consistency across chains.
- **Key fields**: `block_timestamp`, `transaction_hash`, `token0_address`, `token1_address`, `token0_amount`, `token1_amount`, `user_address`, and version

### Component B: Trade consolidation and filtering

- **Purpose**: Combine trades from all chains and apply quality filters
- **Logic**: Trade data from all supported chains is combined into a single dataset. A join with blockchain transaction data is performed to retrieve user addresses for function calls. Denylist filtering is applied to exclude trades involving specific problematic trading pairs or assets that have limited price feed support or other data quality issues. Duplicates are removed using transaction hash and log index combinations to ensure each trade is counted only once.
- **Key fields**: `transaction_hash`, `log_index`, `account_address`, `chain`, and `user_address`

### Component C: Business line separation and decimal correction

- **Purpose**: Process Exchange AMM and DEX Aggregator trades differently while correcting asset decimals
- **Logic**: Trades are separated into two business lines with different processing approaches. For Exchange AMM trades (from Mooniswap pools), a join with trading pair dimensions is performed to retrieve asset metadata and construct account names from asset symbols. For DEX Aggregator trades, direct asset lookups are performed to retrieve metadata for both assets in the trade. Raw asset amounts are normalized by decimal precision. Trades are aggregated at the daily level using timestamp truncation, summing absolute values of asset amounts to handle both buy and sell directions.
- **Key fields**: `token0_amount`, `token1_amount`, and `account_name`

### Component D: USD conversion and anti-manipulation filtering

- **Purpose**: Convert asset amounts to USD values and prevent price manipulation
- **Logic**: Trade data is joined with end-of-day price feeds for both assets in each trade using timestamp, chain, and asset address. USD values are calculated by multiplying normalized asset amounts by their respective USD prices. Anti-manipulation filtering is implemented by taking the minimum USD value between the two assets in each trade, which helps filter out trades where one asset has a manipulated or incorrect price. This approach assumes that in legitimate trades, both assets should have similar USD values, so the smaller value is more likely to be accurate.
- **Key fields**: `trading_volume`

### Component E: Final aggregation and wash trading filtering

- **Purpose**: Aggregate daily trading volumes and apply final wash trading filters
- **Logic**: All processed trades are aggregated by day, chain, and product. Timestamps are truncated to day boundaries. A volume filter is applied to exclude any individual trades with more than 1 billion USD in daily volume per trading pair to prevent wash trading manipulation. Missing dates are filled with zeros.
- **Key fields**: `timestamp`, `chain_id`, and `trading_volume`

## Critical considerations
- **Multi-chain support**: Protocol differences across Ethereum, BNB Chain, Polygon, Arbitrum, and 7 other chains are handled.
- **Protocol evolution**: Changes across 1inch protocol versions V1 to V6 with different event structures and function signatures are accommodated.
- **Native asset handling**: Native asset representations are normalized to their wrapped versions by joining with a wrapped native asset dimension table for consistent processing.
- **Anti-manipulation measures**: The minimum USD value between asset pairs is used, and volume thresholds are applied to filter out suspicious trading activity.
- **Data quality controls**: Denylists for problematic assets and trading pairs are implemented, and failed transactions are excluded from calculations.

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

Total value of spot trades executed on the exchange.

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Trading volume

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