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

DODO is a non-custodial exchange protocol built on Ethereum and other blockchains. DODO launched in 2020.

DODO tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). DODO's investors include Pantera Capital, Three Arrows Capital, Binance Labs, etc.

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DODO

# DODO Trading volume Methodology

## 1. Overview

The total USD value of asset swaps executed across all DODO protocol pools and versions is measured by trading volume. This metric is used to evaluate the total trading activity on DODO. Individual swap events are aggregated, asset amounts are converted to USD values, and anti-manipulation filters are applied to ensure accurate volume reporting. Trade events are processed from DODO V1 and V2 protocols across multiple blockchains, dynamic fee structures are tracked, and a conservative approach is used where the minimum USD value between the two assets in each swap is taken to prevent inflated volumes from price manipulation.

## 2. Data sources

- **Blockchain events**: `BuyBaseToken` and `SellBaseToken` events from `NewBornDODO` and `USTPair` contracts (V1), `DODOSwap` events from `VendingMachine`, `StablePool`, `PrivatePool`, and `GasSavingPool` contracts (V2), `DODOBirth` events from `Zoo` contracts (V1), pool creation events from `VendingMachineFactory`, `StablePoolFactory`, `PrivatePoolFactory`, and `GasSavingPoolFactory` contracts (V2), and fee update events and function calls from DODO contracts, covering Ethereum, Arbitrum, Base, Polygon, and 3 other chains
- **External data**: End-of-day price feeds, asset metadata, and initial fee tier configurations

## 3. Step-by-step calculation

### Component A: Trade event extraction

- **Purpose**: Extract raw trading activity from DODO protocols across all supported chains and versions
- **Logic**: Swap events are parsed from multiple DODO contract types including V1 pools (`BuyBaseToken` and `SellBaseToken` events) and V2 pools (`DODOSwap` events from `VendingMachine`, `StablePool`, `PrivatePool`, and `GasSavingPool` contracts). Key fields including `fromAmount`, `toAmount`, `receiveBase`, and `payQuote` are extracted. For V2 swaps, since events carry amounts in the trade direction, the amounts are oriented (and flipped if necessary) based on whether the starting asset (`fromToken`) matches the base asset (`token0`) or quote asset (`token1`) from the trading pairs dimension. Trade events are joined with blockchain transaction data to identify user addresses. Business metadata is assigned to mark all trades under the Exchange AMM business line, exchanges market sector, and dex business segment.
- **Key fields**: `token0_amount`, `token1_amount`, `account_address`, `user_address`, `block_timestamp`, `chain`, `version`

### Component B: Trading pair mapping

- **Purpose**: Establish asset pair relationships and metadata for each DODO pool
- **Logic**: Pool creation events are processed to map each pool contract to its underlying asset pair. Base and quote asset relationships are extracted from `DODOBirth` events (V1) and factory creation events including `NewDVM`, `NewDSP`, `NewDPP`, and `NewGSP` (V2). These are joined with asset metadata to retrieve decimal precision and symbol information for both assets. Readable pair names are created by concatenating asset symbols. Special cases, including manually created pairs and cross-chain deployments, are handled.
- **Key fields**: `account_address`, `token0_address`, `token1_address`, `token0_decimals`, `token1_decimals`, `account_name`

### Component C: Fee tier tracking

- **Purpose**: Track dynamically changing fee structures across DODO pools over time
- **Logic**: Fee tier updates are processed from pool creation functions and fee update events across all chains and versions. Liquidity provider (LP) fee rates and maintainer fee rates are extracted and normalized by decimal precision. Two fee update scenarios are handled: daily changes (where fee tiers are forward-filled across time periods) and intra-day changes (where specific fee tiers are assigned to trades based on block-level timing). LP and maintainer fees are summed to calculate the total fee tier. For days with multiple fee updates, trades are matched to the appropriate fee tiers using block number and log index ordering.
- **Key fields**: `fee_tier`, `account_address`, `block_timestamp`, `fee_type`, `version`

### Component D: Volume normalization and USD conversion

- **Purpose**: Convert raw asset amounts to standardized USD trading volumes
- **Logic**: Trade events are joined with trading pair metadata and fee tier information. Asset amounts are normalized by decimal precision. End-of-day price feeds are joined to retrieve USD prices for both assets involved in each swap. The USD value for each asset amount is calculated by multiplying the normalized amount by the USD price. An anti-manipulation filter is applied by taking the minimum USD value between the two assets to prevent inflated volumes from price discrepancies or manipulation.
- **Key fields**: `token0_amount`, `token1_amount`, `token0_price_usd`, `token1_price_usd`, `trading_volume`

### Component E: Final aggregation and normalization

- **Purpose**: Combine trading volume components and aggregate to daily totals
- **Logic**: Trading volumes from the daily fee tier assignment path and the block-level fee tier assignment path are combined. Individual swaps are aggregated into daily totals by grouping by timestamp, chain, business metadata, pool address, and fee tier. All asset amounts are converted to USD using end-of-day price feeds, with anti-manipulation protection applied by taking the minimum USD value between asset pairs. Trading volumes are aggregated to daily granularity using timestamp truncation. Finally, missing time periods are filled with zeros to format the output consistently.
- **Key fields**: `timestamp`, `chain`, `business_line`, `market_sector_id`, `business_segment_id`, `product_id`, `version`, `fee_tier`, `trading_volume`

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

Total value of spot trades executed on the exchange.

DODODODO

Trading volume

Trading volume

Competitive landscape

Chain breakdown