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

Katana is a non-custodial exchange protocol built on Ronin. Katana was founded by Sky Mavis and launched in 2021.

The Ronin team own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Exchanges (DEX)

Katana (Ronin)

# Katana Trade count Methodology

## 1. Overview

Trade count measures the number of unique trading transactions executed on the Katana decentralized exchange (DEX) per day. This metric captures user trading activity by counting distinct transaction hashes that contain swap events, providing insight into user engagement and platform utilization. The calculation aggregates raw blockchain swap events into daily trade counts while applying business classification and data quality controls.

## 2. Data sources

The trade count calculation draws from several key data sources:
- **Blockchain events**: Parsed Ronin `Pair_Swap_event` logs from Katana v1 trading pair contracts, containing swap execution details including token amounts and addresses
- **Transaction data**: Ronin transaction records providing transaction hashes, user addresses, and block timestamps for context
- **Smart contract events**: Ronin `Factory_PairCreated_event` logs from Katana Factory contracts that establish trading pair metadata
- **External data**: End-of-day token price feeds for USD conversion and price manipulation detection
- **Token metadata**: Token registry containing decimals, symbols, and standard information for proper amount calculations
- **Manual configurations**: Hardcoded token data for special cases like SLP (Smooth Love Potion) token that may not exist in standard registries

## 3. Step-by-step calculation

### Component A: Raw trade extraction
- **Purpose**: Extract individual swap transactions from Katana DEX contracts on Ronin blockchain
- **Logic**: Query parsed `Pair_Swap_event` logs from Katana v1 pair contracts, capturing swap details including input/output amounts for both tokens in each trading pair. Join with Ronin transaction records to enrich with user addresses and accurate block timestamps. Calculate net token amount changes by subtracting output amounts from input amounts for both `token0` and `token1`. Apply incremental processing to handle only recent data efficiently.
- **Key fields**: `transaction_hash` for unique trade identification, `log_index` for event ordering, `account_address` for trading pair contract, `user_address` for trader identification, `token0_amount` and `token1_amount` for calculated net changes, `block_timestamp` for timing

### Component B: Trading pair enrichment  
- **Purpose**: Add trading pair context and token metadata to enable proper amount processing
- **Logic**: Extract trading pair creation events from Katana Factory contracts to identify valid trading pairs with their token addresses and fee tiers. Enrich with token decimal information from both the standard token registry and manual token configurations. Calculate human-readable pair names by combining token symbols. Apply 0.3% fee tier (3000 basis points) consistently across all pairs.
- **Key fields**: `token0_address` and `token1_address` for pair composition, `token0_decimals` and `token1_decimals` for amount correction, `account_name` for pair identification, `fee_tier` for trading costs

### Component C: Daily trade aggregation
- **Purpose**: Convert individual swap events into daily trading volume summaries with USD valuations
- **Logic**: Group trades by day using timestamp truncation and aggregate token amounts after correcting for decimal places. Convert token amounts to USD values using end-of-day price feeds for both tokens in each pair. Apply price manipulation filtering by taking the lesser of the two USD values when both are available. Sum absolute token amounts to capture total trading activity regardless of direction. Group by timestamp, chain, business classifications, and trading pair to create comprehensive daily summaries.
- **Key fields**: `timestamp` for daily grouping, `trading_volume` for USD-denominated activity, corrected `token0_amount` and `token1_amount` for volume calculation

### Final aggregation
- **Combining components**: Use the daily trade volume summaries as the foundation, focusing on the transaction-level identifiers rather than the volume amounts themselves
- **Currency conversion**: Not applicable for trade count, though USD conversion is performed in upstream processing for validation and filtering purposes
- **Time aggregation**: Group trades by daily boundaries using timestamp truncation, ensuring each day captures all swap events within that 24-hour period
- **Final calculation**: Count distinct `transaction_hash` values within each day and business classification group (chain, market sector, business segment, product ID). Apply the finalization macro to standardize metric format and fill gaps with zero values for days with no trading activity. Filter results based on chain availability to ensure data quality and completeness.

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

Number of trades executed on a decentralized exchange.

Katana (Ronin)

Trade count

Trade count

Competitive landscape