# Hydration DEX Tradeable pairs Methodology

## 1. Overview

Tradeable pairs measures the number of unique asset pairs available for trading on Hydration DEX. This metric reflects the total number of direct swap routes offered by the protocol across its various liquidity structures, including the Omnipool, isolated pools, and stablepools. It serves as a key indicator of the protocol's market breadth and the variety of exchange options available to users.

## 2. Data sources

- **Blockchain events**: Reserve and balance state data for the Omnipool, isolated pools, and stablepools on Hydration Substrate
- **External data**: Asset metadata for decimal normalization and identification

## 3. Step-by-step calculation

### Component A: Omnipool pair tracking

- **Purpose**: Calculate the number of available swap routes within the Hydration DEX Omnipool.
- **Logic**: Unique assets within the Omnipool are identified and counted from reserve state data. Specific assets, such as the internal H2O asset, are excluded from the count. Because the Omnipool enables any registered asset to be traded against any other asset, the total number of tradeable pairs is determined using the permutation formula $(n \times (n - 1)) / 2$, where $n$ is the number of unique assets present in the pool.
- **Key fields**: `token_address`, `pool_type`

### Component B: Isolated and stablepool pair tracking

- **Purpose**: Calculate the number of swap pairs available through isolated and stable liquidity pools.
- **Logic**: Unique isolated pools and stablepools are identified via their pool addresses. This includes standard isolated pairs and specialized stablepools, such as the GDOT stablepool. Each unique pool address is counted as a single tradeable pair, representing a direct swap route between the underlying assets of that specific pool.
- **Key fields**: `pool_address`, `pool_type`

### Component C: Final aggregation and normalization

- **Purpose**: Consolidate tradeable pair counts across all liquidity structures into a single daily metric.
- **Logic**: The pairs calculated from the Omnipool are summed with the pairs identified from isolated and stablepools. The data is aggregated at a daily granularity based on UTC day boundaries. A forward-filling strategy is applied to ensure data continuity, and the final values are associated with the Hydration DEX product and the Hydration Substrate chain.
- **Key fields**: `tradeable_pairs`, `timestamp`, `chain_id`

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

Number of unique token pairs available for trading on the exchange.

Tradeable pairs

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

Tradeable pairs

Tradeable pairs

Chain breakdown