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

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MANTRA

# MANTRA Trade count Methodology

## 1. Overview

The Mantra DEX trade count metric measures the daily number of unique swap transactions executed on Mantra Zone, the decentralized exchange built on the Mantra blockchain. This metric counts each unique transaction hash that contains a swap operation, providing insight into trading activity and user engagement on the platform. The calculation identifies distinct swap transactions by parsing blockchain message events and aggregating them at a daily level.

## 2. Data sources

The trade count calculation uses the following data sources:

- **Mantra blockchain message events**: Raw blockchain events from the Mantra network containing transaction details and event attributes in JSON format
- **Token metadata registry**: Token information including decimal places for proper amount normalization across different tokens
- **Mantra Zone contract events**: Specific contract events from the Mantra Zone smart contract address (`mantra1466nf3zuxpya8q9emxukd7vftaf6h4psr0a07srl5zw74zh84yjqagspfm`)

## 3. Step-by-step calculation

### Component A: Raw swap event extraction
- **Purpose**: Extract individual swap transactions from Mantra blockchain message events
- **Logic**: The calculation starts by filtering Mantra blockchain message events for `wasm` event types that originate from the specific Mantra Zone contract address. Only events with the `execute_swap_operations` action are included, as these represent actual swap transactions. The system parses JSON event attributes to extract key swap details including the sender address, pool identifier, swap details, amounts in and out, token addresses, and various fee components (burn fees, protocol fees, swap fees). Each event represents a single swap transaction with a unique transaction hash.
- **Key fields**: `block_timestamp`, `transaction_hash`, `event_attributes` (JSON), `sender`, `pool_identifier`, `amount_in`, `amount_out`, `token_in`, `token_out`

### Component B: Token metadata integration and volume calculation
- **Purpose**: Normalize token amounts and prepare transaction-level trading data
- **Logic**: The extracted swap events are joined with token metadata to obtain decimal information for proper amount calculations. The system corrects token amounts by dividing raw amounts by 10 raised to the power of each token's decimal places. Transactions are aggregated at the daily level using timestamp truncation, and each record maintains its unique transaction hash. The component adds standardized fields including chain identifier (mantra) and product identifier (Mantra Zone) for consistent metric reporting.
- **Key fields**: `timestamp` (daily truncated), `transaction_hash`, `chain`, `product_id`, `token_in_amount`, `token_out_amount`

### Final aggregation
- **Combining components**: The daily trading volume data serves as the input for trade counting, with each record representing a processed swap transaction
- **Trade counting logic**: The system counts distinct transaction hashes within each day to determine the number of unique trades, ensuring that each swap transaction is counted exactly once regardless of multiple events it might generate
- **Time aggregation**: All calculations use daily boundaries based on timestamp truncation to the day level
- **Final calculation**: The trade count for each day equals the number of distinct transaction hashes that executed swap operations on Mantra Zone, standardized using the finalize metric macro and filtered for chain availability

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

Number of trades executed on a decentralized exchange.

MANTRAMANTRA

Archived

Trade count

Trade count

Competitive landscape

Chain breakdown