# Meteora Liquidity Pools 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 Liquidity Pools, this metric is calculated to quantify the total number of swap transactions executed within the Dynamic Automated Market Maker (DAMM) V1 and V2 liquidity pools, as well as the Dynamic Liquidity Market Maker (DLMM) pools. Trades executed on pools originating from Meteora Launchpad bonding curves and DAMM V2 pool-days flagged for wash trading are excluded from this metric. It is utilized to evaluate user engagement and trading activity specifically within the liquidity pools.

## 2. Data sources

- **Blockchain events**: `Migration` instructions from the `DBC` program, swap instructions from the Meteora DAMM V1, DAMM V2, and DLMM programs, and token balance changes from vault accounts, covering Solana

## 3. Step-by-step calculation

### Component A: Pool origin identification

- **Purpose**: Identify liquidity pools that originated from bonding curve graduations to attribute them to Meteora Launchpad.
- **Logic**: `Migration` instructions from the `DBC` program are parsed to identify graduated pools. Each unique pool account and its corresponding base asset are recorded to build a registry of graduated pools.
- **Key fields**: `pool`, `timestamp`

### Component B: Swap instruction extraction

- **Purpose**: Extract raw swap transactions executed on Meteora programs.
- **Logic**: Swap instructions are filtered from decentralized exchange trade records where the executing account or outer executing account matches the Meteora DAMM V1, DAMM V2, or DLMM program accounts. Each row is treated as a unique swap instruction within a transaction.
- **Key fields**: `timestamp`, `pool`, `executing_account`

### Component C: Product attribution and filtering

- **Purpose**: Attribute trades to the correct Meteora product and isolate Meteora Liquidity Pools.
- **Logic**: Trades executed on the DAMM V1 and DAMM V2 programs are matched against the graduated pool registry. If a pool is found in the registry, the trade is attributed to Meteora Launchpad. If the pool is not in the registry, the trade is attributed to Meteora Liquidity Pools. Trades executed on the DLMM program are also attributed to Meteora Liquidity Pools, while trades executed on the DBC program are excluded from the Meteora Liquidity Pools product scope. Additionally, DAMM V2 pool-days are filtered to exclude wash trading. Pool-days where the daily volume exceeds 20 times the reserve on both legs are flagged as inorganic turnover and excluded.
- **Key fields**: `pool`, `product_id`, `timestamp`

### Component D: Trade count aggregation

- **Purpose**: Calculate the daily trade count for Meteora Liquidity Pools.
- **Logic**: The filtered swap instructions attributed to Meteora Liquidity Pools are aggregated by day. A simple count of all swap records is performed, where transactions containing multiple swaps are counted as multiple trades. Missing days are zero-filled to ensure a continuous time series.
- **Key fields**: `timestamp`, `trade_count`

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

Number of trades executed on a decentralized exchange.

Trade count