# Near Intents Trading volume Methodology

## 1. Overview

Trading volume measures the total value of assets exchanged through Near Intents on Near Protocol. It represents the economic throughput of the intent-based trading infrastructure where user-submitted intents are settled by solvers. This metric provides a standardized view of the market value of all successfully executed swaps, converted to USD.

## 2. Data sources

- **Blockchain events**: `token_diff` events from the `intents.near` account on Near Protocol
- **External data**: End-of-day price feeds for assets and asset metadata including decimal precision

## 3. Step-by-step calculation

### Component A: Intent swap extraction

- **Purpose**: Identify and isolate settlement logs related to Near Intents.
- **Logic**: Execution logs from the `intents.near` account are filtered to capture `token_diff` events. These logs are unnested to extract specific data attributes including the unique intent hash, the account identifier of the user, and the balance changes recorded during settlement. Only events associated with successful execution outcomes are included.
- **Key fields**: `intent_hash`, `account_id`, `diff`, `fees_collected`

### Component B: Asset and amount parsing

- **Purpose**: Quantify the specific assets and amounts involved in each trade.
- **Logic**: The balance change arrays are parsed to identify the two primary assets involved in the swap. Token identifiers are isolated from the raw event strings by removing namespace prefixes. Quantities for each asset are extracted from the event data and prepared for normalization.
- **Key fields**: `token_0`, `token_1`, `amount_0`, `amount_1`

### Component C: USD valuation and normalization

- **Purpose**: Normalize quantities and determine the fair market value of each trade in USD.
- **Logic**: Asset quantities are normalized by their respective decimal precision, with a default of 24 decimals applied where metadata is missing. The USD value of the trade is calculated by taking the lower value between the two swapped assets using end-of-day price feeds. This methodology prevents volume inflation caused by unpriced or illiquid assets.
- **Key fields**: `token0_amount`, `token1_amount`, `price_usd`

### Component D: Aggregation and finalization

- **Purpose**: Consolidate individual trade values into a daily time series.
- **Logic**: Individual trade values are summed by day using UTC boundaries. The resulting dataset is processed to ensure no gaps exist in the time series, with missing days being zero-filled to maintain data continuity.
- **Key fields**: `block_timestamp`, `trading_volume`

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

Total value of spot trades executed on the exchange.

Trading volume

Exchanges (DEX)

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.