# Orca Token Swap V2 Tradeable assets Methodology

## 1. Overview

Tradeable assets measures the number of unique assets available for trading on Orca Token Swap V2. This metric reflects the breadth of asset coverage and the expansion of the project’s supported markets over time. It is calculated by identifying every unique asset associated with the deployment of new liquidity pools within the program.

## 2. Data sources

- **Blockchain events**: `Initialize` instructions from `TokenSwapV2` programs, covering Solana
- **External data**: Asset metadata for symbol and decimal normalization

## 3. Step-by-step calculation

### Component A: Trading pair and asset identification

- **Purpose**: Identify new liquidity pools and the underlying assets they support.
- **Logic**: `Initialize` instructions from `TokenSwapV2` programs are parsed to identify the creation of new trading pairs. The two unique assets associated with each pool (recorded as asset A and asset B) are extracted from the instruction data along with the block timestamp.
- **Key fields**: `tokenA` (asset A address), `tokenB` (asset B address), `tokenSwapAccount` (account identification)

### Component B: Unique asset discovery

- **Purpose**: Determine the first point in time each unique asset became available for trading.
- **Logic**: All extracted asset addresses are aggregated and deduplicated. The earliest timestamp associated with each unique asset address is identified to establish the date of its first appearance on the protocol. This ensures that assets appearing in multiple trading pairs are only counted once.
- **Key fields**: `block_timestamp` (timing), `token_address` (unique identification)

### Component C: Daily and cumulative aggregation

- **Purpose**: Generate a time series of the total tradeable asset count.
- **Logic**: The number of new unique assets is aggregated on a daily basis. A cumulative sum is then applied across the time series to calculate the total number of tradeable assets available on any given day. To maintain a continuous historical record, dates with no new asset additions are filled with the previous day's cumulative value.

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

Number of unique tokens tradeable on the exchange.

Tradeable assets

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.