# AlphaQ Trade count Methodology

## 1. Overview

The number of trades executed on the AlphaQ decentralized exchange is measured by trade count. This metric is utilized to show how frequently assets are bought or sold by users through the `AlphaQ` program. Market activity and platform engagement are reflected by the frequency of these transactions. Every individual fill executed by the `AlphaQ` program is counted as a trade, meaning a multi-hop aggregator route where two AlphaQ markets are utilized is counted as two trades.

## 2. Data sources

- **Blockchain events**: DEX trade instructions executed by the `AlphaQ` program, covering Solana
- **External data**: Asset metadata for decimal normalization

## 3. Step-by-step calculation

### Component A: Trade instruction extraction

- **Purpose**: Extract raw trade data executed through the `AlphaQ` program
- **Logic**: Raw trade data is filtered from Solana DEX trade records where the executing program is identified as the `AlphaQ` program account. For each trade, key details are extracted, including the transaction identifier, transaction signer, pool account, base and quote vault accounts, and base and quote mint accounts.
- **Key fields**: `transaction_id`, `signer`, `pool_address`, `token_0_address`, `token_1_address`

### Component B: Decimal normalization

- **Purpose**: Normalize trade amounts using asset decimal precision
- **Logic**: Base and quote asset amounts are joined with asset metadata. Raw amounts are normalized by the decimal precision of their respective mint accounts so that the actual asset quantities traded are determined.
- **Key fields**: `amount_0`, `amount_1`

### Component C: Trade count aggregation

- **Purpose**: Aggregate individual trades into daily trade counts
- **Logic**: Individual trade records are grouped by day, chain, and product. The total number of trades is calculated by counting the occurrences of executed trade instructions. Missing days within the time series are filled with zeros so that continuous daily data is maintained.
- **Key fields**: `block_timestamp`, `trade_count`

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

Number of trades executed on a decentralized exchange.

Trade count

Exchanges (DEX)

AlphaQ trades only its own assets. The operator posts its inventory into on-chain market vaults and prices each quote from external oracles with a dynamic fee that falls in calm markets and is discounted for trades that improve market balance. Its income is the spread embedded in its quotes; the swap instruction carries no separate fee field, and there is no governance token.

AlphaQ is a proprietary automated market maker (prop AMM) on Solana, live since July 2025. It describes itself as a hybrid AMM that combines AMM composability with order-book-level efficiency through oracle-based pricing and dynamic fees. It is in private beta and is accessible only through DEX aggregators, which route swaps to its markets when its quote is best.

AlphaQ is operated by a proprietary trading firm that has not disclosed its team; the project publishes a website and documentation but no social accounts.