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

Biswap is a non-custodial exchange protocol built on BNB chain. Biswap was founded by an anonymous team and launched in 2021.

BSW tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Biswap’s investors include Binance Labs.

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Biswap

# Biswap Flash loan volume Methodology

## 1. Overview

Flash loan volume measures the total USD value of flash loans executed on Biswap DEX. Flash loans are uncollateralized loans that must be repaid within the same transaction block. This metric tracks the aggregate daily volume of these instant loans across all Biswap trading pairs, providing insight into arbitrage activity, liquidation patterns, and sophisticated trading strategies on the platform.

## 2. Data sources

The calculation relies on several blockchain and external data sources:
- **Flash loan events**: Parsed `Pool_Flash` event logs from Biswap V3 smart contracts on BSC blockchain, containing token amounts borrowed
- **Trading pair creation events**: `Factory_NewPool` events from Biswap V3 and `Factory_PairCreated` events from Biswap V1 factory contracts on BSC
- **Token price data**: End-of-day token price feeds providing USD valuations for flash loan amounts  
- **Token metadata**: Token contract information including decimal precision and symbols for proper amount normalization and pair identification

## 3. Step-by-step calculation

### Component A: Flash loan event extraction
- **Purpose**: Captures all flash loan transactions from Biswap protocols
- **Logic**: Extracts `Pool_Flash` events from Biswap V3 pool contracts on BSC blockchain. Each event contains the pool address, borrowed amounts for both tokens in the pair (`amountX` and `amountY`), transaction hash, and timestamp. Events are filtered to exclude any denylisted trading pairs and classified with business metadata (Exchange AMM business line, DEX segment)
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, pool `address`, `token0_amount`, `token1_amount`

### Component B: Trading pair dimensions
- **Purpose**: Provides metadata for all Biswap trading pairs including fee structures
- **Logic**: Combines factory events from both Biswap versions to build a comprehensive trading pair registry. V3 pairs are created via `Factory_NewPool` events with dynamic fee tiers extracted from the event data. V1 pairs use `Factory_PairCreated` events with fixed fee tiers (0.2% standard, 0.1% for specific stable pool addresses). Token metadata is joined to add decimal precision and symbols for pair naming
- **Key fields**: `account_address` (pool address), `token0_address`, `token1_address`, `fee_tier`, `token0_decimals`, `token1_decimals`, `account_name`

### Component C: Daily volume aggregation
- **Purpose**: Aggregates flash loan amounts by day and converts to normalized token units
- **Logic**: Flash loan events are joined with trading pair dimensions to obtain token addresses and decimal precision. Events are grouped by day using timestamp truncation, then flash loan amounts are corrected for token decimals by dividing raw amounts by 10^decimals. Multiple flash loans within the same transaction and pool are summed together
- **Key fields**: Daily aggregated `token0_amount` and `token1_amount` in normalized units

### Final aggregation
- **Combining components**: Daily flash loan amounts are joined with end-of-day token price feeds to convert both token amounts to USD values
- **Currency conversion**: Each token amount is multiplied by its corresponding USD price from the price feed, matching on timestamp, chain, and token address
- **Time aggregation**: Data is aggregated at daily boundaries using timestamp truncation to day level
- **Final calculation**: Total flash loan volume equals the sum of token0 USD value plus token1 USD value, with null prices defaulting to zero. The result undergoes final metric standardization including gap filling and chain availability filtering

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

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

BiswapBSW

Flash loan volume

Flash loan volume

Competitive landscape