# Whirlpools Trade count Methodology

## 1. Overview

Trade count is measured as the number of trades executed on Whirlpools. This metric provides a representation of how frequently users interact with the concentrated liquidity pools of Orca to buy or sell assets. It is used to gauge the transaction activity and engagement levels specific to the Whirlpools product.

## 2. Data sources

- **Blockchain events**: DEX trade instructions from the Whirlpools program on Solana
- **External data**: Asset metadata for decimal precision normalization

## 3. Step-by-step calculation

### Component A: Whirlpools trade extraction

- **Purpose**: To isolate trade data originating from the Whirlpools program.
- **Logic**: Trade data is parsed from the Solana blockchain. Instructions are filtered by identifying the Whirlpools program ID (`whirLbMiicVdio4qvUfM5KAg6Ct8VwpYzGff3uctyCc`) within the executing account or outer executing account fields. This ensures that only trades related to the Whirlpools concentrated liquidity product are included.
- **Key fields**: `executing_account`, `outer_executing_account`, `transaction_id`

### Component B: Asset normalization and validation

- **Purpose**: To verify trade details and normalize asset quantities.
- **Logic**: For every identified trade, the base and quote asset addresses (mints) and their respective vault accounts are extracted. Asset quantities are normalized by decimal precision using asset metadata. The transaction signer is identified for each trade to maintain a record of the account initiating the swap.
- **Key fields**: `base_mint_address`, `quote_mint_address`, `base_amount`, `quote_amount`, `transaction_signer`

### Component C: Trade count aggregation

- **Purpose**: To calculate the total frequency of trades on a daily basis.
- **Logic**: The total number of trade records identified for the Whirlpools product is summed. These counts are aggregated with daily granularity based on the block timestamp, using UTC day boundaries. A zero-filling strategy is applied to ensure the metric remains continuous even on days where no trade instructions are recorded.
- **Key fields**: `block_timestamp`, `product_id`

*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.