# Fluid DEX Trade count Methodology

## 1. Overview

Trade count measures the number of trades executed on a decentralized exchange. The frequency with which users buy or sell assets through Fluid DEX, Fluid DEX Lite, and Venus Flux is represented by this metric. Insights into user engagement and transaction frequency across supported networks are provided by analyzing these transactions. Market adoption and operational health within the Fluid ecosystem are evaluated through the aggregation of these trade events.

## 2. Data sources

- **Blockchain events**: `Swap` events from `FluidDex` and `FluidDexT1` contracts, and `LogSwap` events from `FluidDexLite` contracts, covering Ethereum, Arbitrum, Base, BNB Chain, Polygon, and 1 other chain

## 3. Step-by-step calculation

### Component A: Fluid DEX and Venus Flux trade extraction

- **Purpose**: Extract swap transactions executed on Fluid DEX and Venus Flux
- **Logic**: `Swap` events from `FluidDex` and `FluidDexT1` contracts are parsed. For each event, the transaction hash, block timestamp, and chain identifier are extracted. The transaction sender address is retrieved by joining the events with the native transactions table. Trades executed on BNB Chain are categorized under the Venus Flux product, while trades on other chains are categorized under the Fluid DEX product.
- **Key fields**: `transaction_hash`, `block_timestamp`, `chain_id`

### Component B: Fluid DEX Lite trade extraction

- **Purpose**: Extract swap transactions executed on Fluid DEX Lite
- **Logic**: `LogSwap` events from `FluidDexLite` contracts are parsed. The swap data field is decoded using a bitwise decoding function to extract the decentralized exchange identifier, swap direction, and adjusted asset amounts. The transaction sender address is retrieved by joining the events with the native transactions table. These trades are categorized under the Fluid DEX Lite product.
- **Key fields**: `swapData`, `transaction_hash`, `block_timestamp`

### Component C: Trade count aggregation and finalization

- **Purpose**: Aggregate trade counts and apply finalization filters
- **Logic**: All extracted trades from Fluid DEX, Venus Flux, and Fluid DEX Lite are combined. The number of unique trades is calculated daily by counting distinct transaction hashes, grouped by timestamp, chain, and product. Days with no trading activity are populated with zero values to ensure a continuous daily time series. Chain availability filters are applied to exclude data past archival limits.
- **Key fields**: `transaction_hash`, `timestamp`, `chain_id`, `product_id`

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

Number of trades executed on a decentralized exchange.

Trade count

Exchanges (DEX)

Fluid acts as a lending, vault, and DEX platform for seamless DeFi interaction.

Fluid is a non-custodial lending, vaults, and DEX protocol built by Instadapp. Instadapp was founded by Samyak Jain & Sowmay Jain and launched in 2018.

FLUID tokenholders own and govern the protocol. They currently earn a cut of the fees generated through Fluid lending, vault and DEX services. Instadapp's investors include Coinbase Ventures, Pantera Capital, Robot Ventures, etc.

Fluid DEX

Trade count

Trade count

Chain breakdown