Liquidity providers deposit funds into Equalizer and stake their LP tokens to receive EQUAL tokens (token incentives).

Equalizer is a non-custodial exchange protocol built on Fantom. Equalizer was founded by Blake Hooper and launched in 2022.

EQUAL tokenholders own and govern the protocol. They vote for pools where they wish to receive trading fees and external bribes from, while pools receive EQUAL emissions in respect to their share of votes.

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Exchanges (DEX)

Equalizer Exchange

# Equalizer Exchange Trading volume Methodology

## 1. Overview

Equalizer trading volume measures the total USD value of trading activity on the Equalizer decentralized exchange (DEX) on Fantom. This metric captures the daily volume of token swaps executed through Equalizer v1 liquidity pools. The calculation processes raw swap events from blockchain logs, applies decimal corrections and USD conversions, and implements anti-manipulation filtering to ensure accurate volume reporting.

## 2. Data sources

- **Swap events**: Fantom blockchain `Swap` events from Equalizer v1 pair contracts, containing token amounts exchanged in each trade
- **Pair creation events**: Fantom blockchain `PairCreated` events from Equalizer's PairFactory contract, identifying valid trading pairs and their token compositions
- **Transaction data**: Fantom transaction records providing user addresses and transaction metadata
- **Token metadata**: Token information including symbols and decimal places for proper amount conversion
- **Price feeds**: End-of-day token price feeds in USD for volume conversion

## 3. Step-by-step calculation

### Component A: Trade extraction
- **Purpose**: Extract individual swap transactions from Equalizer DEX pairs
- **Logic**: Parse `Swap` events from Equalizer v1 pair contracts on Fantom blockchain. For each swap event, calculate the net change in token amounts by subtracting `amount0Out` from `amount0In` for token0, and `amount1Out` from `amount1In` for token1. Join with Fantom transaction data to obtain user addresses. Filter events from November 14, 2022 onwards to capture Equalizer's active period.
- **Key fields**: `block_timestamp` for daily aggregation, `transaction_hash` and `log_index` for unique identification, `address` as the pair contract, `sender` as the contract user, net `token0_amount` and `token1_amount` changes

### Component B: Trading pair identification
- **Purpose**: Create a registry of valid Equalizer trading pairs with token metadata
- **Logic**: Extract `PairCreated` events from Equalizer's PairFactory contract to identify all valid trading pairs. For each pair, capture the pair contract address and the two constituent token addresses (`token0` and `token1`). Join with token metadata to obtain decimal places and symbols for both tokens. Generate human-readable pair names by concatenating token symbols.
- **Key fields**: `account_address` as pair contract, `token0_address` and `token1_address` as constituent tokens, `token0_decimals` and `token1_decimals` for amount correction, `account_name` as token symbol pair

### Component C: Volume aggregation and USD conversion
- **Purpose**: Combine trade data with pair information and convert to USD values
- **Logic**: Join swap events with trading pair data using pair contract addresses. Apply decimal corrections by dividing token amounts by 10 raised to their respective decimal places, then take absolute values to handle bidirectional swaps. Aggregate trades daily using timestamp truncation. Convert both token amounts to USD by joining with end-of-day price feeds for each token and date. Apply anti-manipulation filtering by taking the lesser of the two USD amounts (token0 USD value vs token1 USD value) for each trade, defaulting to zero if price data is unavailable.
- **Key fields**: `timestamp` truncated to day level, decimal-corrected `token0_amount` and `token1_amount`, USD-converted values using `price_usd`, final `trading_volume` as the minimum USD value between token pairs

### Final aggregation
- **Combining components**: Sum all individual trade volumes by day, maintaining transaction-level detail for each swap
- **Currency conversion**: USD conversion applied at the trade level using end-of-day token prices matched by date and chain
- **Time aggregation**: Daily boundaries defined by timestamp truncation to day level, with all volumes summed within each 24-hour period  
- **Final calculation**: Total daily trading volume equals the sum of all individual swap volumes, where each swap volume is the lesser USD value between the two tokens being exchanged, helping filter out potential price manipulation attempts

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

Total value of spot trades executed on the exchange.

Equalizer ExchangeEQUAL

Trading volume

Trading volume

Competitive landscape

Chain breakdown