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.

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Hydration

# Hydration Trading volume Methodology

## 1. Overview

Trading volume measures the total value of trades executed on Hydration DEX. This metric captures the economic activity within the protocol's liquidity pools and provides a basis for evaluating the project's ability to generate fees and revenue from swap operations. Values are calculated by analyzing on-chain swap events and converting the associated asset quantities into USD.

## 2. Data sources

- **Blockchain events**: `Swapped`, `Swapped2`, and `Swapped3` events from `broadcast` pallets, covering Hydration Substrate
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Swap event extraction

- **Purpose**: Identify and parse swap transactions occurring on Hydration DEX.
- **Logic**: Swap events including `Swapped`, `Swapped2`, and `Swapped3` are parsed from the `broadcast` pallet. For each event, the swapper address, input asset, input amount, output asset, and output amount are extracted. Fees paid during the swap are also identified and extracted from the event data for each respective asset.
- **Key fields**: `asset_in`, `amount_in`, `asset_out`, `amount_out`, and `swapper`.

### Component B: Asset normalization and USD conversion

- **Purpose**: Standardize trade amounts across different assets and normalize to USD.
- **Logic**: Input and output asset amounts are joined with asset metadata and normalized by decimal precision. These normalized quantities are then multiplied by end-of-day price feeds corresponding to each asset on Hydration Substrate. This results in a USD value for both the "in" and "out" legs of every trade.
- **Key fields**: `token0_amount`, `token1_amount`, and `price_usd`.

### Component C: Volume calculation and outlier mitigation

- **Purpose**: Ensure accuracy by selecting the most reliable value for each trade and filtering out price manipulation.
- **Logic**: For transactions where both the input and output assets have valid USD values, the trading volume is defined as the lesser of the two amounts. This approach minimizes the impact of price outliers or low-liquidity assets with unreliable price feeds. Specific logic is applied to historically older data and trades where one side lacks a price; in such cases, the volume is captured if the available side is below a defined threshold, otherwise, it is set to zero to maintain data integrity.
- **Key fields**: `trading_volume`.

### Component D: Aggregation

- **Purpose**: Sum the processed trade data into a project-level metric.
- **Logic**: Daily trading volume is calculated by summing the individual trade values across all swap events. Data is aggregated using UTC day boundaries to produce a consistent daily time series.
- **Key fields**: `timestamp` and `trading_volume`.

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

Total value of spot trades executed on the exchange.

HydrationHDX

Trading volume

Trading volume

Competitive landscape

Chain breakdown