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 Trading volume Methodology

## 1. Overview

Trading volume measures the total USD value of tokens traded on Mantra Zone, the decentralized exchange on the Mantra blockchain. The metric aggregates daily swap volumes across all trading pairs, converting token amounts to USD values using end-of-day price feeds. To prevent price manipulation from affecting volume calculations, the methodology takes the minimum USD value between the input and output tokens for each swap.

## 2. Data sources

- **Mantra blockchain events**: WASM contract events from the Mantra Zone contract (`mantra1466nf3zuxpya8q9emxukd7vftaf6h4psr0a07srl5zw74zh84yjqagspfm`) filtered for `execute_swap_operations` actions
- **Token metadata**: Token information including decimal precision for proper amount normalization
- **End-of-day price feeds**: USD price data for tokens traded on Mantra Zone
- **Chain availability data**: Configuration data for applying proper chain-specific filtering

## 3. Step-by-step calculation

### Component A: Swap event extraction
- **Purpose**: Extract and parse swap transaction details from Mantra blockchain events
- **Logic**: Filter WASM contract events for the Mantra Zone contract address and `execute_swap_operations` actions. Parse JSON event attributes using regular expressions to extract swap details including sender address, pool identifier, token amounts in and out, pool reserves, and fee information. Extract both the numeric amounts and token identifiers for input and output tokens, along with fee details including burn fees, protocol fees, and swap fees.
- **Key fields**: `block_timestamp`, `transaction_hash`, `sender`, `pool_identifier`, `amount_in`, `token_in`, `amount_out`, `token_out`, reserve and fee information

### Component B: Daily volume aggregation with decimal correction
- **Purpose**: Aggregate swap data daily and normalize token amounts using proper decimal precision
- **Logic**: Group swaps by day using timestamp truncation to daily boundaries. Join swap data with token metadata to retrieve decimal precision for both input and output tokens. Normalize raw token amounts by dividing by 10 raised to the power of each token's decimal places. This converts the raw blockchain integer values to their proper decimal representations.
- **Key fields**: `timestamp` (daily), `token_in_amount`, `token_out_amount` (decimal-corrected), `chain` (mantra), `product_id` (Mantra Zone)

### Component C: USD conversion and price manipulation protection
- **Purpose**: Convert token amounts to USD values while protecting against price manipulation
- **Logic**: Join the daily aggregated data with end-of-day price feeds for both input and output tokens. Calculate USD values by multiplying normalized token amounts by their respective USD prices. Apply price manipulation protection by taking the minimum USD value between the input and output token calculations for each swap. This prevents artificially inflated volumes from trades involving manipulated token prices.
- **Key fields**: `trading_volume` (minimum USD value between token pairs)

### Final aggregation
- **Combining components**: Sum the minimum USD values across all swaps for each day to get total daily trading volume
- **Currency conversion**: USD conversion uses end-of-day price feeds matched by timestamp, chain, and token address
- **Time aggregation**: Daily boundaries determined by timestamp truncation, with volumes summed within each day
- **Final calculation**: Apply the `finalize_metric_trading_volume` macro to standardize the output schema, validate data integrity, fill missing days with zeros, and apply chain availability filtering to ensure proper data coverage

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

Total value of spot trades executed on the exchange.

MANTRAMANTRA

Archived

Trading volume

Trading volume

Competitive landscape

Chain breakdown