# Slipstream Trade count Methodology

## 1. Overview

Trade count measures the number of trades executed on Aerodrome's Slipstream product. This metric shows how frequently users are buying or selling assets through Slipstream's concentrated liquidity pools. By analyzing the frequency of individual swap transactions, the overall trading activity and liquidity utilization of the Slipstream product are evaluated. Insights into user engagement and market demand for concentrated liquidity on the platform are provided to institutional investors through this metric.

## 2. Data sources

- **Blockchain events**: `Swap` events from `CLPool` contracts and `PoolCreated` events from `CLPoolFactory` contracts, covering Base and Arc
- **External data**: End-of-day price feeds and asset metadata for decimal normalization

## 3. Step-by-step calculation

### Component A: Slipstream pool identification

- **Purpose**: Active Slipstream trading pairs and their associated assets are identified.
- **Logic**: `PoolCreated` events from `CLPoolFactory` contracts are parsed to extract the pool address, token0 address, and token1 address. These addresses are joined with asset metadata to retrieve decimal precision and symbols for each asset in the pair.
- **Key fields**: `pool`, `token0`, `token1`

### Component B: Trade event extraction

- **Purpose**: Individual swap transactions executed through Slipstream pools are captured.
- **Logic**: `Swap` events from `CLPool` contracts are parsed to extract the transaction hash, pool address, and raw transfer amounts for both assets. These events are joined with transaction data to identify the transaction sender. Only transactions occurring after June 1, 2022, are included.
- **Key fields**: `transaction_hash`, `address`, `amount0`, `amount1`, `sender`

### Component C: Decimal normalization and volume filtering

- **Purpose**: Trade amounts are normalized and potential price manipulation is filtered out.
- **Logic**: Raw asset amounts from the trade events are normalized by the decimal precision of each asset. Normalized amounts are multiplied by end-of-day asset prices to determine the USD value of each asset. To mitigate price manipulation, the final trading volume for each trade is determined by taking the lesser USD value of the two traded assets.
- **Key fields**: `amount0`, `amount1`, `price_usd`

### Component D: Trade count aggregation

- **Purpose**: The daily number of unique trades is aggregated.
- **Logic**: The distinct transaction hashes from the processed trade dataset are aggregated on a daily basis. A distinct count of transaction hashes is calculated for each day to represent the daily trade count. Missing days are filled with zero values to ensure a continuous time series.
- **Key fields**: `transaction_hash`, `timestamp`

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

Number of trades executed on a decentralized exchange.

Trade count

Exchanges (DEX)

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).

Slipstream

Trade count

Trade count

Chain breakdown