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.

github

twitter

discord

etherscan

website

Exchanges (DEX)

DODO

# DODO Average trading volume (per trade) Methodology

## 1. Overview

The average trading volume (per trade) of DODO is measured as the average USD value of a single trade on the DODO decentralized exchange. This metric is calculated as total daily trading volume divided by daily trade count, reflecting whether the platform is used by institutional and/or retail traders.

## 2. Data sources

- **Blockchain events**: `BuyBaseToken`, `SellBaseToken`, `UpdateLiquidityProviderFeeRate`, and `UpdateMaintainerFeeRate` events from `NewBornDODO` and `USTPair` contracts; `DODOSwap` events from `VendingMachine`, `StablePool`, `PrivatePool`, and `GasSavingPool` contracts; `LpFeeRateChange` events from `PrivatePool` contracts; `DODOBirth` events from `Zoo` contracts; `NewDVM`, `NewDSP`, `NewDPP`, and `NewGSP` events from their respective factory contracts; `breedDODO` function calls from `Zoo` contracts; and `createDODOStablePool` and `createDODOVendingMachine` function calls from their respective factory contracts, covering Ethereum, BSC, Polygon, Arbitrum, and 3 other chains
- **External data**: End-of-day price feeds for traded assets and asset metadata

## 3. Step-by-step calculation

### Component A: Trading volume calculation

- **Purpose**: Calculate total daily trading volume in USD across all DODO pools and chains
- **Logic**: Swap events are extracted from DODO V1 (`BuyBaseToken` and `SellBaseToken` events from `NewBornDODO` and `USTPair` contracts) and DODO V2 (`DODOSwap` events from `VendingMachine`, `StablePool`, `PrivatePool`, and `GasSavingPool` contracts). These events are joined with trading pair metadata to identify asset addresses and decimal configurations. For DODO V2, swap events carry amounts in the trade direction; the pool's base/quote asset order is retrieved from the trading pairs dimension, and the amounts are oriented (flipped) based on whether the swap started from the quote asset (using the `from_token` field). Raw asset amounts are normalized by decimal precision. USD values are calculated by multiplying adjusted asset amounts with end-of-day price feeds for both assets in each trading pair. The minimum USD value between the two assets is selected to prevent price manipulation from affecting volume calculations. Daily fee tier information is applied by matching trades to the appropriate fee tier based on event timing. The resulting volumes are aggregated by day across all pools and chains.
- **Key fields**: `trading_volume` (minimum USD value), `timestamp` (daily), `token0_amount` and `token1_amount` (decimal-adjusted), `fee_tier` (combined LP and maintainer fees)

### Component B: Trade count calculation

- **Purpose**: Count the number of unique trading transactions per day
- **Logic**: The same underlying trade events as the volume calculation are utilized, with a focus on counting distinct transaction hashes rather than amounts. Data is grouped by day, chain, market sector, business segment, and product dimensions to count unique transactions representing actual trading activity. Each user transaction is counted once regardless of the number of individual swap events it contains.
- **Key fields**: `trade_count` (distinct transaction hashes), `timestamp` (daily), `transaction_hash` (unique identifier)

### Component C: Average volume per trade calculation

- **Purpose**: Calculate the average USD value per trade transaction
- **Logic**: Daily trading volume totals are joined with daily trade counts on matching timestamps. Total daily trading volume is divided by daily trade count using safe division to handle zero-trade days. A zero-filling strategy is applied for days with no trading activity to maintain consistent time series data.
- **Key fields**: `trading_volume_avg_per_trade_count` (average USD value per trade), `timestamp` (daily)

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

DODODODO

Average trading volume (per trade)

Average trading volume (per trade)

Competitive landscape