# Deliswap Trading volume Methodology

## 1. Overview

Trading volume measures the total value of trades executed on Deliswap. As a decentralized exchange product within the BMX ecosystem, Deliswap utilizes Uniswap V4 infrastructure combined with specialized hooks to facilitate asset swaps. This metric serves as a key indicator of liquidity and user activity, directly correlating with the protocol's ability to generate fees and revenue from trading participants.

## 2. Data sources

- **Blockchain events**: `Initialize` and `Swap` events from `PoolManager` contracts, `HookSwap` events from `DeliHookConstantProduct` contracts, and `FeeCollected` events from `FeeProcessor` contracts on Base
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Pool identification

- **Purpose**: To isolate liquidity pools belonging specifically to Deliswap.
- **Logic**: `Initialize` events from `PoolManager` contracts are parsed to identify new liquidity pools. These pools are filtered by their associated hook addresses to ensure only those utilizing Deliswap-specific AMM or V4 hooks are included in the dataset. Asset addresses and fee tiers are extracted for each identified pool.

### Component B: Trade extraction and filtering

- **Purpose**: To capture swap activity while excluding internal protocol transactions.
- **Logic**: Trade data is aggregated from two primary sources: `HookSwap` events from `DeliHookConstantProduct` contracts and `Swap` events from `PoolManager` contracts. These events are joined with `FeeCollected` events from `FeeProcessor` contracts to validate the transactions. This process ensures that internal protocol buybacks—where accumulated fees are automatically used to purchase BMX assets—are excluded from the trading volume calculation.

### Component C: USD conversion and manipulation filtering

- **Purpose**: To normalize trade values and mitigate the impact of price manipulation.
- **Logic**: Raw trade amounts for both assets in a swap pair are normalized by their respective decimal precision. The USD value for both the input and output assets is calculated using end-of-day price feeds. To prevent the inclusion of inflated volume from assets with manipulated or unreliable price data, the final trading volume for each transaction is determined by taking the lower USD value between the two swapped assets.

### Component D: Final aggregation

- **Purpose**: To produce daily volume totals.
- **Logic**: Validated trade volumes are summed by day and chain. Daily totals are calculated using UTC day boundaries, with zero-filling applied to days where no trading activity is recorded.

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

Total value of spot trades executed on the exchange.

Trading volume

Exchanges (DEX)

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

BMX is a non-custodial exchange for spot and perpetual contracts built on Base. BMX has three product lines: Classic, Freestyle, and Based MediaX

BMX tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

Deliswap

Archived

Trading volume

Trading volume

Chain breakdown