# Bifrost Stable Swaps Trade count Methodology

## 1. Overview

Trade count measures the number of trades executed on a decentralized exchange. It shows how frequently users are buying or selling assets through Bifrost Stable Swaps. This metric serves as an indicator of protocol engagement and the frequency of liquidity interactions within the stable swap pools.

## 2. Data sources

- **Blockchain events**: `TokenSwapped` events from `stableAsset` contracts, covering Bifrost Substrate

## 3. Step-by-step calculation

### Component A: Swap event extraction

- **Purpose**: Identify and isolate swap activities executed through the protocol.
- **Logic**: `TokenSwapped` events are parsed from `stableAsset` contracts. For each event, the unique transaction identifier is extracted to represent a single trade execution. This filtering ensures that only swap-specific interactions are included in the count, excluding other pallet operations like liquidity provision or redemptions.
- **Key fields**: `extrinsic_id` (transaction identification), `timestamp` (event timing)

### Component B: Unique trade aggregation

- **Purpose**: Calculate the total number of distinct trades.
- **Logic**: The total trade count is determined by calculating the number of distinct transaction identifiers. This deduplication process ensures that multi-step swaps within a single transaction are not overcounted. Data is aggregated by day using UTC boundaries, and zero-filling is applied to ensure a continuous time series for all periods of protocol operation.
- **Key fields**: `extrinsic_id` (transaction identification)

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

Number of trades executed on a decentralized exchange.

Trade count

Exchanges (DEX)

Collators aggregate parachain transactions block candidates and producing state transition proofs for validators based on those blocks.

Bifrost is the Staking Yield Layer app-chain for stablecoins, RWAs, and DeFi, powered by the Polkadot Relay chain.

BNC holders own and govern the protocol. Bifrost’s investors include OKX Ventures, Long Hash Ventures, etc.

Bifrost Stable Swaps

Archived

Trade count

Trade count

Chain breakdown