The protocol routes trades through Uniswap V4 and 0x Protocol, collecting a 1% fee on each transaction.

o1.exchange enables users to trade tokens on Base with features including limit orders, TWAP, sniping, and anti-MEV protection.

o1.exchange is an AI-powered trading terminal built on Base.

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Exchanges (DEX)

o1.exchange

# Average trading volume (per user) Methodology

## Overview

Average trading volume (per user) measures the average trading volume generated per unique user over a fixed 24-hour window. It is calculated as total daily trading volume divided by active users (daily), and reflects whether the DEX is used by institutional (high) and/or retail (low) traders.

## Data sources

- Smart contract events and program instructions capturing swap activity
- Transaction metadata to identify unique user addresses
- End-of-day price feeds for USD conversion
- Asset metadata for decimal normalization

## Common calculation approaches

### Direct DEX swap extraction
Swap events are extracted from liquidity pool contracts to identify both the transaction volume and the unique addresses involved. For example, `Swap` events are captured from `FluidDex` contracts in Fluid, while `TokenExchange` and `TokenExchangeV2` events are tracked from Curve pool contracts. The total daily USD volume is divided by the count of unique addresses to determine the average per-user activity.

### Aggregator and settlement tracking
Trading activity is identified through router and settlement contracts that aggregate liquidity across multiple venues. For instance, `Trade` events are extracted from `GPv2Settlement` contracts in CoW Protocol, and `Swapped` events are captured from various router versions in 1inch. These events provide the necessary data to link specific trade volumes to the originating user addresses.

### Cross-chain swap identification
Volume and user data are aggregated from specialized swap and liquidity pool contracts to account for cross-chain or multi-asset activity. In Chainflip, for example, `AssetSwapped` and `SwapRequested` events are tracked to capture trading behavior across different chains. This data is then normalized by decimal precision and converted to USD using end-of-day price feeds.

**Note:** The calculation approaches and protocol examples above are representative patterns. Individual protocol implementations may vary.

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

Average trading volume (per user)

Trading volume divided by daily active users.

o1.exchange

Average trading volume (per user)

Average trading volume (per user)

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