# Orca Token Swap V2 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 Orca Token Swap V2. This metric provides insight into the transaction volume and user activity specific to the V2 liquidity pools of the protocol.

## 2. Data sources

- **Blockchain events**: Dex trade instructions from the Orca Token Swap V2 program (`9W959DqEETiGZocYWCQPaJ6sBmUzgfxXfqGeTEdp3aQP`), covering Solana

## 3. Step-by-step calculation

### Component A: Orca Token Swap V2 trade identification

- **Purpose**: Isolate trade activity occurring through the Orca Token Swap V2 program.
- **Logic**: Parsed dex trade data from Solana is filtered to include only transactions where the executing account or outer executing account matches the Orca Token Swap V2 program account (`9W959DqEETiGZocYWCQPaJ6sBmUzgfxXfqGeTEdp3aQP`). This process ensures that activity from other protocol versions, such as Whirlpools, is excluded from this specific product-level metric.
- **Key fields**: `executing_account`, `outer_executing_account`, `transaction_id`

### Component B: Trade aggregation

- **Purpose**: Total the number of successful trades executed on a daily basis.
- **Logic**: Every unique trade entry associated with the identified program is counted. The resulting trade counts are aggregated by day according to the block timestamp. Data is processed with daily granularity using UTC day boundaries.
- **Key fields**: `block_timestamp` (timing), `transaction_id` (uniqueness)

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

Number of trades executed on a decentralized exchange.

Trade count

Exchanges (DEX)

Users are able to use the Orca protocol to transact with digital assets on a peer-to-peer or peer-to-protocol basis by trading against liquidity  pools, which are created and seeded by other users providing liquidity of a pair of tokens into such liquidity pools in exchange for a stake of the liquidity and trading fees generated by such pools.

Orca is a non-custodial automated market maker (AMM) protocol built on Solana. Orca was founded by Yutaro Mori and Grace Kwan and launched in 2021.

ORCA tokenholders govern the Orca protocol treasury, which receives a portion of the trading fees paid by users of the protocol.