# Whirlpools Tradeable assets Methodology

## 1. Overview

Tradeable assets measures the total number of unique assets supported for trading within Orca Whirlpools. This metric reflects the breadth of the project's asset coverage and the expansion of its liquidity ecosystem over time. By tracking the cumulative count of distinct assets that have been initialized in trading pools, the diversity and growth of the platform's market offerings are quantified.

## 2. Data sources

- **Blockchain events**: `InitializePool` and `InitializePoolV2` instructions from `Whirlpool` programs, covering Solana
- **External data**: Asset metadata for symbol and name mapping

## 3. Step-by-step calculation

### Component A: Trading pair extraction from Whirlpools

- **Purpose**: Identify all assets associated with liquidity pools initialized on Orca Whirlpools
- **Logic**: `InitializePool` and `InitializePoolV2` instructions are parsed from `Whirlpool` programs on Solana. The unique identifiers for both assets in each trading pair are extracted from the `tokenMintA` and `tokenMintB` fields. Each identified account is associated with the timestamp of the pool's initialization to determine the point of entry for each asset into the ecosystem.
- **Key fields**: `block_timestamp` (timing), `tokenMintA` (first asset identifier), `tokenMintB` (second asset identifier)

### Component B: Asset lifecycle and first appearance tracking

- **Purpose**: Determine the date of introduction for each unique asset to prevent double-counting
- **Logic**: The extracted asset identifiers from all trading pairs are flattened into a single list. The earliest timestamp associated with each unique asset identifier is identified across all Whirlpool instances. This process ensures that each asset is only counted as a "new" tradeable asset on the day it was first initialized in any pool.
- **Key fields**: `token_address` (asset identifier), `block_timestamp` (entry timing)

### Component C: Daily and cumulative aggregation

- **Purpose**: Calculate the daily expansion and the total running count of tradeable assets
- **Logic**: The number of unique assets making their first appearance is aggregated on a daily basis. To ensure continuous data representation, any days without new asset initializations are filled with zero values. Finally, a cumulative sum of these daily new assets is calculated to determine the total number of tradeable assets available on the platform for any given date.
- **Key fields**: `asset_count` (daily new assets), `tradeable_assets` (cumulative total)

*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.