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

KyberSwap is a non-custodial exchange protocol & aggregator built on Ethereum and other adjacent blockchains. KyberSwap was founded by Loi Luu and Victor Tran in 2017.

KNC tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Kyber Network raised $52 million in an ICO in 2017.

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KyberSwap

# KyberSwap Trade count Methodology

## 1. Overview

The number of trades executed on KyberSwap is measured by the Trade count metric. The frequency with which users buy or sell assets through the protocol is represented by this metric. Trades routed through KyberSwap Classic (V2), KyberSwap Elastic (V3), and KyberSwap Meta-Aggregation Router are aggregated to provide a comprehensive view of protocol activity. This metric is utilized to evaluate user engagement and transaction frequency across all supported blockchains.

## 2. Data sources

- **Blockchain events**: `Swapped` events from `MetaAggregationRouter` and `MetaAggregationRouterV2` contracts, `KyberTrade` events from `KyberNetwork` contracts, `ExecuteTrade` events from `KyberNetworkProxyV1` and `KyberNetworkProxyV2` contracts, and `Swap` events from `KSPool`, `DMMPool`, `Pool`, and `ElasticPool` contracts, covering Ethereum, Arbitrum, Avalanche, Polygon, and 12 other chains
- **External data**: Asset metadata for decimal normalization

## 3. Step-by-step calculation

### Component A: KyberSwap DEX Aggregator and legacy AMM trade extraction

- **Purpose**: Trade events are extracted from KyberSwap's DEX aggregator and legacy AMM contracts.
- **Logic**: `Swapped` events are parsed from `MetaAggregationRouter` and `MetaAggregationRouterV2` contracts. Legacy trades are extracted from `KyberTrade` events emitted by `KyberNetwork` contracts, and `ExecuteTrade` events emitted by `KyberNetworkProxyV1` and `KyberNetworkProxyV2` contracts. Native gas asset identifiers are mapped to their corresponding wrapped asset addresses. Transaction hashes are joined with native transaction tables to identify the sender address.
- **Key fields**: `transaction_hash`, `spentAmount`, `returnAmount`, `srcToken`, and `dstToken`

### Component B: KyberSwap Classic and Elastic pool trade extraction

- **Purpose**: Trade events are extracted from KyberSwap Classic (V2) and KyberSwap Elastic (V3) liquidity pools.
- **Logic**: `Swap` events are parsed from `KSPool` and `DMMPool` contracts for KyberSwap Classic (V2), and from `Pool` and `ElasticPool` contracts for KyberSwap Elastic (V3). Swap events for KyberSwap Elastic (V3) are filtered to exclude any events occurring after the protocol's decommission date. Transaction hashes are joined with native transaction tables to identify the sender address.
- **Key fields**: `transaction_hash`, `amount0In`, `amount0Out`, `amount1In`, `amount1Out`, `deltaQty0`, and `deltaQty1`

### Component C: Wrap filtering and decimal normalization

- **Purpose**: Non-trade transactions are filtered out and asset decimals are normalized.
- **Logic**: Asset amounts are normalized by decimal precision using asset metadata. Transactions representing asset wrapping, where both legs of the swap involve the same underlying asset (such as native gas asset to wrapped gas asset conversions on specific chains like Arc), are identified and excluded from the trade count.
- **Key fields**: `token0_decimals`, `token1_decimals`, `token0_address`, and `token1_address`

### Component D: Trade count aggregation

- **Purpose**: Distinct trade counts are aggregated on a daily level.
- **Logic**: The distinct number of transaction hashes is counted and aggregated by day, chain, and product. Empty days are filled with zeros to ensure continuous daily tracking.
- **Key fields**: `transaction_hash` and `timestamp`

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

Number of trades executed on a decentralized exchange.

KyberSwapKNC

Trade count

Trade count

Competitive landscape

Chain breakdown