Lenders deposit funds into Euler and receive interest payments from borrowers (supply-side fees).

Euler is a non-custodial lending protocol built on Ethereum. Euler was founded by Michael Bentley, Doug Hoyte & Jack Prior and launched in 2021.

EUL tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue). Euler’s investors include Paradigm, Lemniscap, Launchhub Ventures, etc.

governance

github

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etherscan

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Lending

Euler

# euler Trade Count Methodology

## 1. Overview

Trade Count is defined as the total number of successful swap transactions executed through EulerSwap. This metric is utilized to assess the frequency of trading activity and the overall engagement with the protocol's liquidity pools across multiple blockchain environments. Transactions are captured across all supported versions of the protocol to provide a comprehensive view of protocol usage. The data is aggregated daily to facilitate the analysis of growth trends and liquidity utilization.

## 2. Data sources

- **Blockchain events**: `Swap` events from `EulerSwap` contracts, `PoolDeployed` and `PoolConfig` events from `EulerSwapFactory` contracts, and `Initialize` events from `PoolManager` contracts, covering Ethereum, Arbitrum, Avalanche, Base, and 4 other chains.

## 3. Step-by-step calculation

### Component A: Trading pair identification

- **Purpose**: Identify active liquidity pools and their associated assets.
- **Logic**: `PoolDeployed` and `PoolConfig` events from `EulerSwapFactory` contracts are parsed to map pool addresses to their respective assets. For integrations involving Uniswap V4, `Initialize` events from `PoolManager` contracts are utilized to identify relevant pool identifiers and associate them with the protocol.
- **Key fields**: `pool_address`, `asset_addresses`

### Component B: Swap event extraction

- **Purpose**: Capture individual trading transactions.
- **Logic**: `Swap` events are parsed from `EulerSwap` contracts across all supported versions and chains. For pools integrated with Uniswap V4, trade data is retrieved from decentralized exchange trade records where the maker address corresponds to an identified EulerSwap pool.
- **Key fields**: `transaction_hash`, `block_timestamp`

### Component C: Aggregation and normalization

- **Purpose**: Calculate the final daily trade count.
- **Logic**: The total number of unique transaction hashes is calculated for each day, chain, and product. Results are aggregated at the product level with daily granularity and UTC day boundaries.
- **Key fields**: `transaction_hash`, `block_timestamp`

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

Number of trades executed on a decentralized exchange.

EulerEUL

Trade count

Trade count

Competitive landscape

Chain breakdown