Liquidity providers deposit funds into IDEX and receive trading fees from traders (supply-side fees).

IDEX is hybrid-liquidity DEX, combining a high-performance order book with an Automated Market Making matching engine, built on Polygon. IDEX was founded by Alex Wearn and launched in 2019.

IDEX tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). IDEX's investors include Gnosis, Collider Ventures, Borderless Capital, G1 Ventures, etc.

twitter

discord

etherscan

website

Exchanges (DEX)

IDEX

# IDEX Fees Methodology

## 1. Overview

The IDEX fees metric calculates the total trading fees collected by the IDEX protocol on a daily basis. IDEX is a decentralized exchange operating on Polygon that offers both automated market maker (AMM) and order book trading functionality. The metric applies a fixed fee rate of 0.25% to all trading volumes conducted through IDEX's exchange contracts, focusing specifically on taker trades where users pay fees to execute against existing liquidity.

## 2. Data sources

- **Polygon blockchain event logs**: Parsed events from IDEX v3 Exchange contracts including `PoolTradeExecuted`, `OrderBookTradeExecuted`, and `HybridTradeExecuted` events
- **Token metadata**: Hardcoded mappings for quote assets including USDC (address `0x2791bca1f2de4661ed88a30c99a7a9449aa84174`) and ETH (address `0x7ceb23fd6bc0add59e62ac25578270cff1b9f619`) token information
- **Trade execution data**: Transaction details including base and quote asset symbols, quantities, taker side indicators, and execution timestamps

## 3. Step-by-step calculation

### Component A: Trade data extraction
- **Purpose**: Extracts and standardizes trading activity from multiple IDEX v3 event types
- **Logic**: Processes four different event configurations from IDEX v3 Exchange contracts on Polygon. For `PoolTradeExecuted` and `OrderBookTradeExecuted` events, extracts base and quote quantities directly. For `HybridTradeExecuted` events, processes both pool and order book components separately since these represent trades that span both AMM liquidity and order book orders. Filters exclusively for taker trades using `takerSide = 1` condition, as only takers pay trading fees. Converts token amounts from pips format by dividing by 10^8 to get standard decimal representation. Classifies trades into business lines: "Exchange AMM" for pool-based trades and "Exchange Order Book" for order book trades.
- **Key fields**: `baseQuantityInPips` and `quoteQuantityInPips` converted to `token0_amount` and `token1_amount`, `baseAssetSymbol` and `quoteAssetSymbol` for token identification, `takerSide` for fee liability determination

### Component B: Quote asset filtering
- **Purpose**: Identifies trades involving supported quote assets for fee calculations
- **Logic**: Creates a dimension table with hardcoded mappings for supported quote tokens (USDC and ETH with their respective contract addresses). Joins trade data with this dimension table using token symbols to filter trades to only those involving these specific quote assets. This ensures fee calculations focus on the most liquid and commonly used trading pairs.
- **Key fields**: `token_symbol` for matching trade data, `token_address` for token identification

### Component C: Daily volume aggregation
- **Purpose**: Aggregates trading volumes by day and applies fee rate calculation
- **Logic**: Truncates trade timestamps to daily boundaries and groups trades by date, chain, market sector, business segment, and product identifiers. Sums the `token1_amount` field (quote token volumes) to get total daily trading volume in quote asset terms. Applies a fixed fee tier of 0.25% (0.0025) to the aggregated trading volume using safe multiplication to calculate total fees collected.
- **Key fields**: Daily `timestamp`, aggregated `trading_volume`, calculated `fees` as the product of volume and fee rate

### Final aggregation
- **Combining components**: The trading volumes from Component A are filtered through Component B's quote asset mappings, then aggregated in Component C to produce daily fee totals
- **Currency conversion**: Fee calculations are performed in the native quote asset terms (USDC and ETH), with any USD conversion handled by downstream standardization processes
- **Time aggregation**: All trades are aggregated to daily boundaries using timestamp truncation, with missing days filled with zeros using the fill_zeros strategy
- **Final calculation**: Daily fees equal the sum of all trading volumes multiplied by the 0.25% fee rate: `fees = sum(trading_volume) × 0.0025`

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

Total value users pay to use a protocol (gross fees, user-paid fees).

IDEXIDEX

Fees

Fees

Competitive landscape

Chain breakdown