The operator quotes prices from the BisonFi program and fills against its own inventory, earning the spread embedded in its quotes. It also runs a separate prediction-market program, which is not part of this listing.

BisonFi is a proprietary automated market maker on Solana, live since December 2025. It takes its order flow from DEX aggregators, primarily Jupiter, which route swaps to it when its quote is best.

BisonFi is operated by a market-making team that has not disclosed its identity.

Exchanges (DEX)

BisonFi

# BisonFi Trading volume Methodology

## 1. Overview

Trading volume is measured as the total USD value of swaps executed through the BisonFi proprietary market maker. This metric is utilized to evaluate the overall trading activity and liquidity of the platform. Because quotes are provided directly from the market maker's own inventory, trades are executed without traditional liquidity providers or separate fee fields. The volume of these transactions is used as a key indicator of the protocol's market share and overall utilization.

## 2. Data sources

- **Blockchain events**: Trade instructions executed by the BisonFi program, covering Solana
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Trade extraction and normalization

- **Purpose**: Extract raw trade data from the BisonFi program on Solana
- **Logic**: Trade instructions executed by the BisonFi program are filtered and extracted. Base and quote asset amounts are normalized by decimal precision using asset metadata. The unique pool accounts, transaction signers, and asset accounts are identified for each trade.
- **Key fields**: `block_timestamp`, `base_amount`, `quote_amount`, `base_mint_address`, `quote_mint_address`, `pool_address`

### Component B: Pool metadata mapping

- **Purpose**: Map assets to their respective trading pools
- **Logic**: Pool metadata is established by identifying the first trade associated with each unique pool account. The base and quote assets are mapped as the primary assets for each pool, allowing subsequent trades to be correctly aligned with their respective trading pairs.
- **Key fields**: `pool_address`, `token_address_0`, `token_address_1`

### Component C: USD valuation and volume calculation

- **Purpose**: Convert asset amounts to USD and apply the valuation methodology
- **Logic**: Normalized asset amounts are multiplied by end-of-day price feeds to determine the USD value of both legs of each trade. To prevent valuation distortions from unpriced or newly launched assets, the trading volume is valued at the lesser of the two legs. However, if exactly one leg of the trade is classified as a tokenized stock asset, the volume is valued using that specific leg's USD value.
- **Key fields**: `amount_0`, `amount_1`, `price_usd`

### Component D: Aggregation

- **Purpose**: Aggregate trading volume to daily intervals
- **Logic**: The calculated USD trading volumes are aggregated by day, chain, and product. Daily boundaries are defined using UTC timestamps, and any days with missing activity are zero-filled to ensure a continuous time series.
- **Key fields**: `timestamp`, `chain_id`, `product_id`, `trading_volume`

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

Total value of spot trades executed on the exchange.

BisonFi

Trading volume

Trading volume

Competitive landscape