# GoonFi V2 Trading volume Methodology

## 1. Overview

The total value of trades executed on the GoonFi V2 decentralized spot exchange is measured by trading volume. This metric is utilized to analyze transaction activity and liquidity, which correlates with the protocol's capacity to generate trading fees and revenue. Order flow is routed to GoonFi V2 through decentralized exchange aggregators, with trades filled by a proprietary market maker. To ensure data integrity and mitigate the impact of price outliers, trade valuations are determined using a conservative leg-valuation methodology.

## 2. Data sources

- **Blockchain events**: Swap instructions executed by the GoonFi program (`goonuddtQRrWqqn5nFyczVKaie28f3kDkHWkHtURSLE`), covering Solana
- **External data**: End-of-day price feeds, asset metadata, and daily market data

## 3. Step-by-step calculation

### Component A: GoonFi V2 trade extraction and normalization

- **Purpose**: Extract raw trade data for GoonFi V2 and normalize asset quantities.
- **Logic**: Swap instructions executed by the GoonFi program account (`goonuddtQRrWqqn5nFyczVKaie28f3kDkHWkHtURSLE`) are filtered from Solana DEX trade records. For each trade, the block timestamp, transaction signer, pool account, base and quote vault accounts, base and quote mint accounts, and raw base and quote amounts are extracted. Raw asset quantities are normalized by dividing them by their respective decimal precisions, which are retrieved from asset metadata.
- **Key fields**: `block_timestamp`, `pool_address`, `base_mint_address`, `quote_mint_address`, `base_amount`, `quote_amount`

### Component B: GoonFi V2 pool metadata resolution and trade direction mapping

- **Purpose**: Establish pool asset configurations and map trade directions.
- **Logic**: Pool metadata is resolved by identifying the first trade associated with each unique pool account, establishing the canonical asset accounts (`token_address_0` and `token_address_1`) for the pool. Normalized trade amounts are then mapped to these canonical asset accounts. The trade direction is determined by comparing the trade's asset accounts with the resolved pool metadata to identify whether the trade flows from asset A to asset B.
- **Key fields**: `pool_address`, `token_address_0`, `token_address_1`, `a_to_b`

### Component C: GoonFi V2 USD valuation and outlier mitigation

- **Purpose**: Convert trade amounts to USD and apply valuation rules to prevent price distortions.
- **Logic**: Normalized trade amounts are multiplied by end-of-day asset prices retrieved from price feeds and daily market data. To mitigate the impact of price outliers and unpriced assets, each trade is valued at the lesser of its two legs. An exception is applied if exactly one leg of the trade is classified as a tokenized stock based on asset metadata; in this scenario, the trade is valued solely using the tokenized stock leg to avoid zero-valuation caused by unpriced counterparty assets. If both legs are tokenized stocks, the lesser of the two legs is maintained.
- **Key fields**: `amount_0`, `amount_1`, `price_usd`

### Component D: GoonFi V2 aggregation and zero-filling

- **Purpose**: Aggregate trading volume and ensure continuous daily data.
- **Logic**: Valued trades are aggregated by day, chain, and product. Missing days within the time series are zero-filled to ensure a continuous daily record. Finally, a chain availability filter is applied to align the output with approved chain freshness configurations.
- **Key fields**: `timestamp`, `trading_volume`

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

Total value of spot trades executed on the exchange.

Trading volume

Exchanges (DEX)

The operator fills swaps from its own inventory against prices quoted by the GoonFi program, earning the spread embedded in those quotes.

GoonFi is a proprietary automated market maker on Solana, live since the first quarter of 2026. It takes its order flow from DEX aggregators, primarily Jupiter.

GoonFi is operated by a market-making team that has not disclosed its identity.