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.

website

Exchanges (DEX)

AlphaQ

# AlphaQ Trading volume Methodology

## 1. Overview

Trading volume measures the total value of trades executed on a decentralized spot exchange. For AlphaQ, the USD value of swaps filled by the AlphaQ proprietary market maker on Solana is represented by this metric. Because trades are executed exclusively using the operator's own inventory at oracle-derived quotes, external liquidity providers and explicit swap fee fields are omitted. Each trade is valued using the lesser USD value of its two transaction legs to ensure conservative and accurate volume tracking.

## 2. Data sources

- **Blockchain events**: Trade execution instructions are parsed from the `AlphaQ` program, covering Solana
- **External data**: End-of-day price feeds and asset metadata are ingested for traded assets

## 3. Step-by-step calculation

### Component A: Trade extraction and normalization

- **Purpose**: Extract raw trade data executed by the AlphaQ program
- **Logic**: Trade instructions are filtered where the executing account matches the `AlphaQ` program account. For each trade, the block timestamp, transaction signer, pool account, base and quote vault accounts, base and quote mint accounts, and raw base and quote amounts are extracted. Raw amounts are normalized by dividing them by their respective asset decimal precisions obtained from asset metadata.
- **Key fields**: `block_timestamp`, `pool_address`, `base_amount`, `quote_amount`, `base_mint_address`, `quote_mint_address`

### Component B: Pool metadata and asset ordering

- **Purpose**: Establish consistent trading pairs and pool mappings
- **Logic**: Pool metadata is derived by identifying the unique pair of assets traded within each pool account, using the first recorded trade timestamp as the pool creation date. Trading pairs are standardized by ordering the assets alphabetically or prioritizing fiat-pegged assets (such as USD or EUR denominated assets) to establish a consistent trading pair identifier and name.
- **Key fields**: `pool_address`, `token_address_0`, `token_address_1`

### Component C: USD valuation and volume calculation

- **Purpose**: Convert trade amounts to USD and calculate the final trading volume
- **Logic**: Normalized trade amounts for both assets are multiplied by their respective end-of-day USD prices. To prevent double-counting and account for the proprietary market maker structure where no explicit fee fields exist, the final trading volume for each swap is calculated as the lesser USD value of the two transaction legs. Daily volume is aggregated by pool, trading pair, and chain using UTC day boundaries.
- **Key fields**: `trading_volume`, `timestamp`

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

Total value of spot trades executed on the exchange.

AlphaQ

Trading volume

Trading volume

Competitive landscape