Liquidity providers deposit funds into Aperture and receive trading fees from traders (supply-side fees).

Aperture is a non-custodial DeFi exchange protocol built on Manta Pacific (originally a fork of Uniswap). Aperture was founded by Gao Han, Lian Zhu, and Peiqian Li in 2021.

Aperture team & investors own and govern the protocol. They do not currently take a cut of the total trading fees paid by traders (revenue). Aperture's investors include ParaFi Capital, Arrington XRP Capital, Costanoa Ventures and Divergence Ventures.

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Aperture

# Aperture Flash loan volume Methodology

## 1. Overview

Flash loan volume measures the total USD value of assets borrowed through flash loans on Aperture Finance, a decentralized exchange protocol. This metric captures the volume of temporary, within-transaction borrowing activity across Aperture's liquidity pools. The calculation aggregates the USD value of both tokens in each flash loan transaction, providing insight into the scale of arbitrage, liquidation, and other flash loan-enabled activities on the platform.

## 2. Data sources

The methodology relies on several key data sources:

- **Blockchain events**: Parsed `Pool_Flash_event` logs from Manta blockchain capturing flash loan executions with token amounts and pool addresses
- **Pool creation events**: `Factory_PoolCreated_event` logs from Manta blockchain containing pool metadata including token pairs and fee tiers  
- **Transaction data**: Manta transaction records to identify the actual users initiating flash loan transactions
- **Token metadata**: Token information including decimal places and symbols for proper unit conversion and pool identification
- **External data**: End-of-day price feeds providing USD conversion rates for borrowed tokens

## 3. Step-by-step calculation

### Component A: Flash loan event extraction
- **Purpose**: Captures all flash loan transactions from Aperture pools on Manta blockchain
- **Logic**: Extracts `Pool_Flash_event` logs containing the pool address, sender contract, and raw token amounts for both tokens in the pair. Joins with Manta transaction records to identify the actual user address initiating the flash loan transaction. Includes business categorization fields identifying these as Exchange AMM transactions within the DEX segment
- **Key fields**: `account_address` (pool address), `contract_user_address` (sender), `user_address` (transaction initiator), `token0_amount` and `token1_amount` (raw borrowed amounts)

### Component B: Pool metadata enrichment  
- **Purpose**: Provides essential pool composition data needed for volume calculations
- **Logic**: Processes `Factory_PoolCreated_event` logs to extract pool creation details including token pair addresses and fee tiers. Joins with token metadata to retrieve decimal places and symbols for both tokens. Creates human-readable pool names by concatenating token symbols. Normalizes fee tiers by dividing raw values by 10^6 to convert to decimal representation
- **Key fields**: `token0_address`, `token1_address`, `token0_decimals`, `token1_decimals`, `account_name` (token pair name), `fee_tier`

### Component C: Daily volume aggregation and conversion
- **Purpose**: Aggregates flash loan activity by day and converts to standardized USD values
- **Logic**: Joins flash loan events with pool metadata to access token decimal information. Aggregates transactions by day and pool, converting raw token amounts to proper units by dividing by 10 raised to the respective token's decimal places. Groups by timestamp, transaction identifiers, and pool details while summing the corrected token amounts
- **Key fields**: Daily aggregated `token0_amount` and `token1_amount` in proper decimal-adjusted units

### Final aggregation
- **Combining components**: Flash loan events are joined with pool metadata to enable proper decimal conversion, then aggregated by day
- **Currency conversion**: USD conversion performed by joining with end-of-day price feeds for both tokens in each pool, multiplying decimal-corrected amounts by respective USD prices
- **Time aggregation**: Daily boundaries established using timestamp truncation to day level, with all flash loans within a day aggregated together
- **Final calculation**: Total flash loan volume calculated as the sum of USD values for both tokens: (token0_amount × token0_price_usd) + (token1_amount × token1_price_usd), with missing prices defaulting to zero to ensure data completeness

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

Total value of assets borrowed and repaid within the same transaction.

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Flash loan volume

Flash loan volume

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