Swappers provide liquidity and execute trades. They receive trading fees charged for each swap.

Mean Finance is a protocol that enables users to Dollar Cost Average (DCA) any ERC20 into any ERC20 with their preferred period frequency.

Mean Finance team owns and governs the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Mean Finance

# Mean Finance Trading volume Methodology

## 1. Overview

Mean Finance trading volume measures the total USD value of tokens traded through Mean Finance's Dollar Cost Averaging (DCA) protocol across multiple blockchains. The metric captures trading activity from Mean Finance's batched DCA trades, with special handling for ERC4626 wrapper tokens to ensure volume is attributed to the underlying assets rather than the wrapper tokens themselves.

## 2. Data sources

The calculation draws from several blockchain and external data sources:

- **Blockchain events**: `DCAHub_Swapped` events from Mean Finance smart contracts on Ethereum, Optimism, Polygon, Arbitrum, and BSC that record batched DCA trade executions
- **Token factory events**: ERC4626 token factory creation events including `CreateERC4626` events from StakeableEulerERC4626Factory and EulerERC4626Factory on Ethereum, AaveV3ERC4626Factory on Arbitrum, Optimism, and Polygon, VenusERC4626Factory on BSC, and `ProxyCreated` events from BeefyWrapperFactory on BSC
- **Token approval events**: ERC20 `Approval` events from BSC used specifically for Beefy wrapper token identification
- **External data**: End-of-day token price feeds for USD conversion and token metadata for decimal correction

## 3. Step-by-step calculation

### Component A: Base trade data extraction
- **Purpose**: Extract individual token amounts from Mean Finance's batched DCA trades
- **Logic**: The system processes `DCAHub_Swapped` events from Mean Finance's DCAHub smart contracts across five blockchains. Each swap event contains a `swapInformation` structure with a `pairs` array, where each pair represents a token swap with `tokenA`, `tokenB` addresses and corresponding `totalAmountToSwapTokenA`, `totalAmountToSwapTokenB` amounts. The unnesting process creates individual records for each token pair within each swap event, with each record containing timestamp, transaction details, chain information, and token pair data
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, contract `address`, `tokenA`/`tokenB` addresses, and `totalAmountToSwapTokenA`/`totalAmountToSwapTokenB` amounts

### Component B: ERC4626 token mapping
- **Purpose**: Create a mapping between ERC4626 wrapper token addresses and their underlying asset addresses
- **Logic**: The system tracks ERC4626 token creation events from various factory contracts across different chains and yield protocols. For Ethereum, it processes `CreateERC4626` events from StakeableEulerERC4626Factory and EulerERC4626Factory. For Arbitrum, Optimism, and Polygon, it uses AaveV3ERC4626Factory events. For BSC, it combines VenusERC4626Factory events and BeefyWrapperFactory `ProxyCreated` events. For Beefy tokens specifically, it joins the proxy creation events with ERC20 `Approval` events to identify the underlying token addresses. Each creation event provides a mapping from the vault address to the underlying asset address
- **Key fields**: `block_timestamp`, `vault` address as `account_address`, `asset` address as `token_address`, `chain`, and `version`

### Component C: Trading volume record expansion  
- **Purpose**: Create comprehensive trading volume records that account for both direct token trades and ERC4626 wrapper token trades
- **Logic**: The system creates four types of trading volume records through union operations. First, it creates records for `token0_address` with `token0_amount` as trading volume. Second, it creates records for `token1_address` with `token1_amount` as trading volume. Third and fourth, it creates additional records for ERC4626 wrapper tokens by joining the trade data with the ERC4626 allowlist. When a trade involves an ERC4626 wrapper token (either as token0 or token1), it creates additional records that attribute the trading volume to the underlying asset address rather than the wrapper address. All records are truncated to daily granularity
- **Key fields**: `timestamp` (daily), `transaction_hash`, `log_index`, `chain`, business classification fields, `token_address`, and `trading_volume`

### Final aggregation
- **Combining components**: The expanded trading volume records from all four union branches are combined into a single dataset, ensuring that both direct token trades and underlying asset volumes from ERC4626 trades are captured
- **Currency conversion**: Trading volumes are converted to USD using end-of-day token price feeds, with decimal correction applied based on each token's decimal configuration through the `convert_to_usd_and_correct_decimals` macro
- **Time aggregation**: Daily trading volumes are aggregated using the `finalize_metric_trading_volume` macro, which implements a zero-filling strategy to ensure consistent daily time series data even for days with no trading activity
- **Final calculation**: The metric represents the total USD value of tokens traded daily through Mean Finance's DCA protocol, with proper attribution of ERC4626 wrapper token volumes to their underlying assets, filtered by chain availability to ensure data quality across supported blockchains

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

Total value of spot trades executed on the exchange.

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