Liquidity providers deposit funds into Aerodrome and stake their LP tokens to receive AERO tokens in proportion to their share of the votes (token incentives).

Aerodrome is a non-custodial exchange protocol built on Base. Aerodrome was launched by the Velodrome team in 2023.

AERO tokenholders own and govern the protocol. They vote which pools they wish to earn trading fees from (revenue), while the pools' unstaked liquidity providers earn the remainder of the trading fees (supply-side fees).

github

twitter

discord

etherscan

website

Exchanges (DEX)

Aerodrome

# Aerodrome Trade count Methodology

## 1. Overview

Trade count is defined as the number of trades executed on a decentralized exchange. It is utilized to analyze how frequently assets are bought or sold through the protocol. For Aerodrome, trading activity is captured across its core products, including Stable Pools, Volatile Pools, and Slipstream. This metric is monitored to evaluate user engagement, transaction frequency, and liquidity pool utilization.

## 2. Data sources

- **Blockchain events**: `Swap` events from `Pool` and `CLPool` contracts, and `PoolCreated` events from `Factory` and `CLPoolFactory` contracts, covering Base and Arc
- **External data**: Asset metadata and end-of-day price feeds

## 3. Step-by-step calculation

### Component A: Stable Pools and Volatile Pools trade extraction

- **Purpose**: Extract swap transactions executed on Aerodrome V1 and V2 pools
- **Logic**: `Swap` events are parsed from `Pool` contracts on Base. For each event, the change in both assets is calculated by subtracting the outgoing amount from the incoming amount. Transaction details, including the block timestamp, transaction hash, log index, pool address, and contract user address, are joined with the transactions table to identify the transaction sender. Trading activity for both Stable Pools and Volatile Pools is captured during this step.
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `address`, `amount0`, `amount1`, `from_address`

### Component B: Slipstream trade extraction

- **Purpose**: Extract swap transactions executed on Aerodrome V3 (Slipstream) concentrated liquidity pools
- **Logic**: `Swap` events are parsed from `CLPool` contracts on Base. The asset amounts exchanged during the swap are extracted directly. Transaction details, including the block timestamp, transaction hash, log index, pool address, and contract user address, are joined with the transactions table to identify the transaction sender. Trading activity for the Slipstream product is captured during this step.
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `address`, `amount0`, `amount1`, `from_address`

### Component C: Trading pair and asset metadata integration

- **Purpose**: Map swap events to their corresponding trading pairs and normalize asset decimals
- **Logic**: `PoolCreated` events are parsed from `Factory` and `CLPoolFactory` contracts to identify pool addresses, asset addresses, and pool types. These pool details are joined with asset metadata to retrieve decimal values and symbols for each asset. The swap events extracted in previous steps are then matched with these trading pairs to normalize asset amounts by decimal precision.
- **Key fields**: `account_address`, `token0_address`, `token1_address`, `decimals`

### Component D: Trade count aggregation

- **Purpose**: Aggregate the distinct number of trades on a daily basis
- **Logic**: The combined trade dataset is aggregated by day, chain, and product (Stable Pools, Volatile Pools, and Slipstream). The daily trade count is calculated by counting the distinct transaction hashes associated with swap events. Zero-filling is applied to ensure continuity for days without trading activity, and a chain availability filter is applied to align the data with the last approved timestamp.
- **Key fields**: `timestamp`, `transaction_hash`, `product_id`, `chain_id`

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

Number of trades executed on a decentralized exchange.

AerodromeAERO

Trade count

Trade count

Competitive landscape

Chain breakdown