# Meteora Launchpad Trade Count Methodology

## 1. Overview

Trade count measures the number of trades executed on a decentralized exchange. It shows how frequently users are buying or selling assets through the project. For Meteora Launchpad, the frequency of user buy and sell transactions is represented by this metric. Market activity and transaction engagement for newly launched assets are evaluated using trade frequency. By tracking these events, the overall liquidity and trading interest in early-stage assets launched via the platform are analyzed.

## 2. Data sources

- **Blockchain events**: `Migration` instructions from the `DBC` program, decentralized exchange trade records, and token balance updates, covering Solana

## 3. Step-by-step calculation

### Component A: Meteora Launchpad pool origin identification

- **Purpose**: To identify liquidity pools that originated from a bonding-curve graduation.
- **Logic**: `Migration` instructions from the `DBC` program are parsed to extract the graduated pool account, the original virtual pool account, the base asset mint, and the migration timestamp. These graduated pools are flagged as originating from Meteora Launchpad, allowing subsequent trades on these pools to be correctly attributed to the launchpad product rather than standard liquidity pools.
- **Key fields**: `pool_address`, `virtual_pool`, `base_mint`, `block_timestamp`

### Component B: Meteora Launchpad trade extraction and product attribution

- **Purpose**: To extract trade records and attribute them to Meteora Launchpad.
- **Logic**: Trade records are filtered for executing accounts matching the Dynamic Bonding Curve (`DBC`) program, the Dynamic AMM (`DAMM`) V1 program, and the Dynamic AMM (`DAMM`) V2 program. Trades executed directly on the `DBC` program are automatically attributed to Meteora Launchpad. Trades executed on `DAMM` V1 or `DAMM` V2 programs are cross-referenced with the identified graduated pools; if a match is found, the trade is attributed to Meteora Launchpad, while unmatched trades are attributed to Meteora Liquidity Pools. Trades occurring on Dynamic AMM (`DAMM`) V2 pools flagged for wash trading—where daily native quote-asset volume exceeds 20 times the daily native quote-asset reserve—are excluded.
- **Key fields**: `pool_address`, `executing_account`, `outer_executing_account`, `block_timestamp`

### Component C: Meteora Launchpad trade count aggregation

- **Purpose**: To calculate the daily trade count.
- **Logic**: The attributed trade records are aggregated by day. Each unique swap event within a transaction is counted as a single trade, meaning transactions containing multiple routing hops or aggregated swaps contribute multiple trades to the total. Missing days are zero-filled to ensure a continuous time series, and the final dataset is filtered based on chain availability.
- **Key fields**: `block_timestamp`, `product_id`

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

Number of trades executed on a decentralized exchange.

Trade count