# Mantra Zone Trading volume Methodology

## 1. Overview

Trading volume measures the total value of trades executed on Mantra Zone. This metric is a key indicator of liquidity and usage for the decentralized exchange, correlating with the protocol's capacity to generate swap fees and protocol revenue. All trading activity is captured from on-chain swap events, normalized by asset precision, and converted to USD for standardized reporting.

## 2. Data sources

- **Blockchain events**: `execute_swap_operations` actions within `wasm` events from the Mantra Zone contract (`mantra1466nf3zuxpya8q9emxukd7vftaf6h4psr0a07srl5zw74zh84yjqagspfm`), covering Mantra Chain
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Mantra Zone swap extraction

- **Purpose**: Identify and parse swap-related data from the Mantra Zone smart contract
- **Logic**: `wasm` events are filtered for the Mantra Zone contract address. Swap details are extracted from the event attributes JSON, specifically capturing the sender, input asset, output asset, and their respective raw quantities from the `swap` field using regular expressions.
- **Key fields**: `amount_in`, `token_in`, `amount_out`, `token_out`

### Component B: Normalization and decimal adjustment

- **Purpose**: Convert raw on-chain integers into human-readable asset quantities
- **Logic**: Raw input and output amounts are joined with asset metadata to retrieve decimal precision. Amounts are then normalized by dividing the raw values by their respective decimal units.
- **Key fields**: `token_in_amount`, `token_out_amount`

### Component C: USD valuation and volume calculation

- **Purpose**: Assign a USD value to trades while mitigating data anomalies
- **Logic**: Normalized asset amounts are multiplied by end-of-day price feeds for each respective asset. To ensure data integrity and filter out potential price manipulation or extreme volatility, trading volume for each transaction is calculated as the lower USD value between the input asset and the output asset.
- **Key fields**: `price_usd`, `trading_volume`

### Component D: Final aggregation

- **Purpose**: Consolidate trade data into a daily time series
- **Logic**: Individual trade volumes are aggregated by day, chain, and product. The data is processed using UTC day boundaries, and any days with missing activity are zero-filled to ensure a continuous time series.
- **Key fields**: `timestamp`, `chain_id`, `product_id`

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

Total value of spot trades executed on the exchange.

Trading volume

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

Trading volume

Trading volume

Chain breakdown