Blast batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense). Bridge depositors deposit ETH or stablecoins to Blast and receive a yield from ETH staking or T-bill strategies.

Blast is an L2 smart contract platform for decentralized applications on Ethereum. Blast has an inherent yield generation mechanism, coming from ETH staking and RWA protocols. Blast was founded by Pacman and launched in 2023.

Blast team and investors currently own and govern the protocol. Blast's investors include Paradigm, Standard Crypto, Santiago, etc.

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Blast

# Blast Token trading volume Methodology

## 1. Overview

This metric measures the total USD value of tokens traded on the Blast network on a daily basis. It captures trading activity across decentralized exchanges and other trading venues within the Blast ecosystem, providing insight into the network's trading liquidity and token utility. The calculation aggregates swap volumes, converts them to USD using CoinGecko price feeds, and presents daily totals by token.

## 2. Data sources

The calculation relies on several key data sources:

- **Blast blockchain events**: Parsed swap events from decentralized exchanges operating on the Blast network, including `Swap` events from AMM protocols
- **Token transfer data**: Blast network `Transfer` events that represent trading activity between addresses
- **CoinGecko price feeds**: End-of-day token price data for USD conversion of trading volumes
- **Token metadata**: Contract addresses, decimal precision, and token identification information for Blast network tokens
- **Cross-chain bridge data**: Bridge transactions that may represent token trading activity between Blast and other networks

## 3. Step-by-step calculation

### Component A: Raw trading activity identification
- **Purpose**: Identifies all token trading events on the Blast network
- **Logic**: Parses DEX swap events and relevant token transfers from Blast blockchain data. Filters for events that represent genuine trading activity by identifying swap transactions on known decentralized exchange contracts. Excludes non-trading transfers such as simple wallet-to-wallet movements or contract interactions that don't represent market trading.
- **Key fields**: Token contract addresses (`token_address`), swap amounts (`amount_in`, `amount_out`), transaction hashes (`tx_hash`), block timestamps (`block_time`), and trading pair information

### Component B: Volume aggregation and token processing
- **Purpose**: Aggregates trading volumes by token and normalizes amounts using proper decimal precision
- **Logic**: Groups identified trading events by token contract address and date. Applies correct decimal precision for each token to convert raw blockchain amounts to human-readable token quantities. Sums total trading volume for each token on each day, handling both sides of trading pairs to avoid double-counting.
- **Key fields**: Normalized token amounts (`volume`), token symbols and names, daily timestamps (`date`), and trading pair details

### Component C: USD conversion and price matching
- **Purpose**: Converts token trading volumes to USD values using CoinGecko price data
- **Logic**: Matches each token's daily trading volume with corresponding end-of-day USD prices from CoinGecko feeds. Handles cases where price data may not be available for certain tokens or dates. Calculates USD equivalent values by multiplying normalized token volumes by their respective USD prices.
- **Key fields**: USD prices (`price_usd`), converted USD volumes (`volume_usd`), price source metadata, and currency conversion timestamps

### Final aggregation
- **Combining components**: Joins trading volume data with price information to calculate USD-denominated trading volumes for each token on each day
- **Currency conversion**: Uses CoinGecko end-of-day prices to convert token volumes to USD, ensuring consistent valuation timing across all tokens
- **Time aggregation**: Aggregates all trading activity within each calendar day (UTC), creating daily snapshots of trading volume by token
- **Final calculation**: The final metric represents the total USD value of each token traded on Blast network per day, calculated as the sum of all trading volumes multiplied by their respective USD prices. Data is filtered to include only records from June 26, 2024 onwards, marking the start of comprehensive Blast network data availability.

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

Total trading volume of the project's native token across spot venues.

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