Validators process transactions and receive validator rewards (supply-side fees).

NEAR Protocol is a smart contract platform for decentralized applications (a blockchain). NEAR Protocol was founded by Alexander Skidanov & Ilya Polosukhin and launched in 2017.

NEAR holders own and govern the protocol. They currently take (burn) all of the total transaction fees paid by users (revenue). NEAR Protocol's investors include a16z, Pantera Capital, Libertus, etc.

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NEAR Protocol

# near Trading Volume Methodology

## 1. Overview

Trading Volume measures the total value of assets exchanged via Near Intents. It represents the economic activity generated by users swapping assets through the intents-based architecture on the Near blockchain. This metric serves as a key indicator of liquidity and protocol usage for Near Intents.

## 2. Data sources

- **Blockchain events**: `token_diff` events from `intents.near` accounts on Near
- **External data**: End-of-day price feeds for assets traded on Near

## 3. Step-by-step calculation

### Component A: Swap event extraction

- **Purpose**: Identify and parse raw swap data from the Near Intents architecture
- **Logic**: Logs are filtered for the `intents.near` executor account where the event type is defined as `token_diff`. The event data is parsed from JSON to extract the unique intent hash, the participating user account, and the arrays containing token balance changes and collected fees. Asset identifiers and raw amounts are extracted for both sides of the swap.
- **Key fields**: `intent_hash`, `token_0`, `token_1`, `amount_0`, `amount_1`

### Component B: Asset normalization and valuation

- **Purpose**: Convert raw blockchain values into normalized USD figures
- **Logic**: Only transactions with a successful execution status are included. Raw asset amounts are normalized by their respective decimal precision. Each side of the swap is valued in USD by multiplying the normalized amount by the corresponding end-of-day price feed for that asset on the Near blockchain.
- **Key fields**: `execution_status`, `decimals`, `price_usd`

### Component C: Trading volume calculation and aggregation

- **Purpose**: Finalize the daily volume figures while ensuring data integrity
- **Logic**: The trading value for each transaction is determined by taking the lesser USD value of the two assets involved in the swap to mitigate the impact of price discrepancies or illiquid assets. These values are summed to calculate the total daily trading volume. Data is aggregated to a daily granularity using UTC day boundaries.
- **Key fields**: `trade_value_usd`, `block_timestamp`

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

Total value of spot trades executed on the exchange.

NEAR ProtocolNEAR

Trading volume

Trading volume

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