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.

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Bifrost

# Bifrost Tradeable pairs Methodology

## 1. Overview

Tradeable pairs measures the number of unique trading pairs available in Bifrost Stable Swaps pools on any given day. The business question of how many different asset pairs can be traded through Bifrost Stable Swaps is answered by this metric. Distinct pool identifiers from active stable asset pools are counted, providing insight into the diversity of trading options available to users.

## 2. Data sources

- **Blockchain events**: `Minted` events from `vtokenMinting` pallet, stable asset pool configurations, and block metadata, covering Bifrost Substrate
- **External data**: Asset metadata mapping internal token indices to standard symbols, decimal precision, and price feed identifiers for DOT, vDOT, GLMR, vGLMR, ASTR, vASTR, FIL, vFIL, MANTA, vMANTA, BNC, and vBNC assets

## 3. Step-by-step calculation

### Component A: Stable asset pool data extraction

- **Purpose**: Extract and parse pool configuration data to identify available trading pairs
- **Logic**: Stable asset pool data is processed by parsing JSON-formatted asset information to extract asset keys, indices, and balances for both assets in each pool. Two assets are contained within each pool with their respective keys, indices, and balance amounts. Each trading pair is uniquely identified by the `pool_id` field.
- **Key fields**: `pool_id`, `asset_1_key`, `asset_2_key`, `asset_1_index`, `asset_2_index`, `asset_1_balance`, and `asset_2_balance`

### Component B: Token mapping and metadata enrichment

- **Purpose**: Map internal token indices to standardized asset information
- **Logic**: Hardcoded token definitions are used to map each asset's internal identifier (key and index combination) to asset symbols, decimal precision, and price feed identifiers. Both native assets (such as DOT and GLMR) and their corresponding voucher assets (such as vDOT and vGLMR) are covered by this mapping. Proper decimal normalization is ensured, and price conversions are enabled where required.
- **Key fields**: `token`, `decimals`, `coingecko_id`, `key`, and `index`

### Component C: vToken price ratio calculation

- **Purpose**: Calculate exchange rates between voucher assets and their underlying assets
- **Logic**: `Minted` events from the `vtokenMinting` pallet are processed to determine the quantity of underlying assets exchanged for voucher assets. The quantities of both the original asset and the newly minted voucher asset are contained within these events, allowing the exchange ratio to be calculated. Daily averages of these ratios are computed and forward-filled to handle days without minting activity.
- **Key fields**: `token_amount`, `v_token_amount`, and `vtoken_price_ratio`

### Component D: Daily timestamp alignment

- **Purpose**: Establish consistent daily boundaries for metric calculation
- **Logic**: Block timestamps are truncated to day-level granularity to group pool data by calendar days. Consistent daily boundaries are ensured, reflecting the number of tradeable pairs available each day rather than at specific block heights.
- **Key fields**: `timestamp` and `block_timestamp`

### Component E: Final aggregation and zero-filling

- **Purpose**: Combine pool data, count unique trading pairs, and apply daily zero-filling
- **Logic**: Pool data is joined with token mappings to identify asset types, then joined with block timestamps for daily grouping. Separate records are created for each asset in each pool using a union operation to ensure both sides of each trading pair are accounted for. Distinct `pool_id` values are counted for each day to represent the number of unique trading pairs available on Bifrost Stable Swaps. A zero-fill strategy is applied by the finalization macro to ensure consistent daily values, where any missing days are filled with zero tradeable pairs.
- **Key fields**: `pool_id`, `timestamp`, and `tradeable_pairs`

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

Number of unique token pairs available for trading on the exchange.

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Tradeable pairs

Tradeable pairs

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