# Mantra Zone Tradeable pairs Methodology

## 1. Overview

Tradeable pairs measures the number of unique asset pairs available for trading on Mantra Zone. This metric reflects the liquidity depth and market breadth of the decentralized exchange by quantifying the total number of distinct swap routes established between assets. It serves as an indicator of the growth and diversity of the Mantra Zone trading ecosystem.

## 2. Data sources

- **Blockchain events**: `execute_swap_operations` instructions from CosmWasm contracts, covering Mantra Chain
- **External data**: Asset metadata for symbol and decimal normalization

## 3. Step-by-step calculation

### Component A: Mantra Zone pool identification

- **Purpose**: To identify and extract all unique liquidity pools active on the decentralized exchange.
- **Logic**: Data is parsed from CosmWasm message events on Mantra Chain. Instructions identified with the `execute_swap_operations` action are filtered to isolate trading activity. From these events, unique pool identifiers are extracted along with their associated asset pairs, which are identified through the pool reserve attributes.

### Component B: Tradeable pair lifecycle tracking

- **Purpose**: To determine the inception date and persistent availability of each trading pair.
- **Logic**: The first appearance of each unique pool identifier is recorded to establish the date the pair became tradeable. To ensure the metric reflects the total available trading routes, each pool is tracked from its initial appearance through all subsequent days in the dataset. This persistence logic ensures that once a pair is established, it is counted as a tradeable route for all following periods.

### Component C: Daily aggregation

- **Purpose**: To generate a daily time series of the total number of tradeable pairs.
- **Logic**: The total count of distinct pool identifiers is aggregated for every UTC day. The count is calculated by identifying all pools that had their first appearance on or before the given date. The final values are normalized to ensure no gaps exist in the time series, with counts forward-filled or zero-filled as necessary to represent the continuous state of the Mantra Zone exchange.

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

Number of unique token pairs available for trading on the exchange.

Tradeable pairs

Exchanges (DEX)

Mantra is a Decentralized Exchange (DEX), initially built on Ethereum and upgraded to the Mantra Chain, a blockchain built on the Cosmos SDK.

Mantra Zone

Archived

Tradeable pairs

Tradeable pairs

Chain breakdown