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.

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IDEX

# IDEX Trade count Methodology

## 1. Overview

The IDEX trade count metric measures the daily number of unique trades executed on the IDEX v3 decentralized exchange on Polygon. This metric counts distinct transactions containing trade executions across IDEX's three trading mechanisms: AMM pools, order books, and hybrid trading. The metric provides insight into daily trading activity and user engagement on the IDEX platform.

## 2. Data sources

- **Polygon blockchain event logs**: Parsed events from IDEX v3 Exchange contracts on Polygon
- **Trade execution events**: Four specific event types capturing different trading mechanisms:
  - `PoolTradeExecuted` events from AMM pool trading
  - `OrderBookTradeExecuted` events from order book trading  
  - `HybridTradeExecuted` events from hybrid trading model (contains both AMM and order book components)
- **Transaction metadata**: Block timestamps and transaction hashes for temporal aggregation and deduplication

## 3. Step-by-step calculation

### Component A: Trade event extraction
- **Purpose**: Extract all taker-side trade executions from IDEX v3 contracts
- **Logic**: Collects four types of trade events from IDEX v3 Exchange contracts on Polygon. Filters events to include only taker-side trades using the `takerSide` field equal to 1. For `HybridTradeExecuted` events, the data is processed twice to capture both the AMM pool component and order book component as separate trade records. Each event provides base and quote token symbols, trade quantities in pips format, trader address, and transaction metadata.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for deduplication, `log_index` for event ordering, `address` for trader identification, `baseAssetSymbol` and `quoteAssetSymbol` for token pairs, quantity fields in pips format

### Component B: Amount normalization and classification  
- **Purpose**: Convert trade amounts from IDEX's internal format and classify by business line
- **Logic**: Converts token quantities from pips format (1e-8 precision) to standard decimal format by dividing by 10^8. Classifies trades into business lines: `PoolTradeExecuted` events become 'Exchange AMM', `OrderBookTradeExecuted` events become 'Exchange Order Book', and `HybridTradeExecuted` events contribute to both categories. Assigns standard categorization with market sector as 'exchanges', business segment as 'dex', and no specific product differentiation.
- **Key fields**: `token0_amount` and `token1_amount` (converted from pips), `business_line` classification, `market_sector_id`, `business_segment_id`

### Component C: Daily aggregation
- **Purpose**: Group trades by day and count unique transactions
- **Logic**: Truncates block timestamps to daily boundaries to create consistent time periods. Groups trades by timestamp, chain, market sector, business segment, and product dimensions. Counts distinct transaction hashes rather than individual log entries to avoid double-counting multiple trade events within the same transaction. This ensures that complex transactions with multiple trade components are counted as single trades.
- **Key fields**: `timestamp` (truncated to day), `trade_count` (distinct transaction hash count)

### Final aggregation
- **Combining components**: All processed trade events flow through the daily aggregation step where distinct transaction hashes are counted per day
- **Time aggregation**: Daily boundaries are created by truncating block timestamps to day precision, with all trades within a 24-hour period grouped together
- **Final calculation**: The final trade count equals the number of distinct transaction hashes containing IDEX trade events per day, ensuring that complex multi-trade transactions are counted once. Zero-fill strategy is applied to ensure continuous daily data series even on days with no trading activity.

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

Number of trades executed on a decentralized exchange.

IDEXIDEX

Trade count

Trade count

Competitive landscape

Chain breakdown