# Hydration DEX Trade count Methodology

## 1. Overview

Trade count measures the number of trades executed on Hydration DEX. This metric is used to track the frequency of exchange activity and user engagement with the protocol's liquidity pools. Each successful swap transaction is identified on-chain to provide an accurate representation of how often assets are being traded through Hydration DEX.

## 2. Data sources

- **Blockchain events**: `Swapped`, `Swapped2`, and `Swapped3` events from `broadcast` pallets, covering Hydration Substrate

## 3. Step-by-step calculation

### Component A: Swap event extraction

- **Purpose**: Identify and extract all successful swap operations executed on the decentralized exchange.
- **Logic**: Swap events are parsed from the `broadcast` pallet on the Hydration Substrate chain. Specifically, `Swapped`, `Swapped2`, and `Swapped3` events are captured to ensure all versions of the exchange's swap logic are included. For each event, the timestamp and transaction identifier are retrieved.
- **Key fields**: `block_timestamp` (timing), `extrinsic_id` (transaction identification), `event_method` (event type)

### Component B: Unique trade identification

- **Purpose**: Ensure that the metric reflects unique trading interactions at the transaction level.
- **Logic**: Trade events are filtered to ensure only successful operations are counted. The unique transaction identifier is isolated for every identified swap event to prevent over-counting in instances where multiple internal events may be emitted within a single user-initiated trade.
- **Key fields**: `extrinsic_id`

### Component C: Aggregation and zero-filling

- **Purpose**: Generate a continuous time series of daily trade activity.
- **Logic**: The number of distinct transaction identifiers is summed for each day based on UTC boundaries. If no trading activity is detected for a specific day, the value is set to zero to maintain data continuity. The final values are filtered based on the recorded availability and freshness of the underlying chain data.
- **Key fields**: `trade_count` (distinct count of transactions), `timestamp` (daily granularity)

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

Number of trades executed on a decentralized exchange.

Trade count

Exchanges (DEX)

Collators aggregate parachain transactions block candidates and producing state transition proofs for validators based on those blocks.

Hydration is a Polkadot parachain specialized in trading, lending, and stablecoin issuance.

HDX holders own and govern the protocol. Hydration’s investors include KR1 plc, Hypersphere, etc.

Hydration DEX

Trade count

Trade count

Chain breakdown