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 Active users (monthly) Methodology

## 1. Overview

Active users (monthly) is measured as the number of unique accounts that execute a revenue-generating transaction with AlphaQ. For AlphaQ, unique end traders whose swap transactions are filled by the AlphaQ program are captured. Since AlphaQ is accessed primarily through decentralized exchange (DEX) aggregators, the transaction signers are identified as the end traders. This metric is utilized to evaluate user adoption, protocol engagement, and the overall transaction volume driven by the AMM.

## 2. Data sources

- **Blockchain events**: Trade instructions executed by the AlphaQ program, covering Solana

## 3. Step-by-step calculation

### Component A: Trade instruction extraction

- **Purpose**: Identify trade transactions interacting with the AlphaQ program
- **Logic**: Trade transactions are filtered from on-chain DEX trade records on Solana where the executing program matches the AlphaQ program account. Transaction details, including the block timestamp, transaction ID, and transaction signer, are extracted.
- **Key fields**: `block_timestamp`, `transaction_id`, `transaction_signer`

### Component B: Active user aggregation

- **Purpose**: Calculate the monthly count of unique active users
- **Logic**: The transaction signer is designated as the active user (trader). Distinct transaction signers are aggregated over a 30-day rolling window using the block timestamp. Chain availability filters are applied to align the data with approved operational windows.
- **Key fields**: `signer`, `block_timestamp`

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

Unique revenue-generating users over a rolling 30-day window.

AlphaQ

Active users (monthly)

Active users (monthly)

Competitive landscape