Liquidity providers deposit funds into Pharaoh and stake their LP tokens to receive PHAR tokens in proportion to their share of the votes (token incentives).

Pharaoh is a non-custodial exchange protocol built on Avalanche. Pharaoh was founded in 2023.

PHAR tokenholders own and govern the protocol. They vote which pools they wish to earn trading fees from (revenue).

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Pharaoh

# Pharaoh Tradeable pairs Methodology

## 1. Overview

Tradeable pairs measures the total number of unique asset pairs available for trading on Pharaoh. It reflects the number of direct swap routes offered by the project across its different liquidity pool iterations, including legacy pairs and concentrated liquidity pools. This metric serves as an indicator of the protocol's ecosystem growth and the variety of trading options accessible to users.

## 2. Data sources

- **Blockchain events**: `PairCreated` events from `Factory` contracts and `PoolCreated` events from `Factory` and `RamsesV3Factory` contracts, covering Avalanche
- **External data**: Asset metadata for symbol identification

## 3. Step-by-step calculation

### Component A: Trading pair identification

- **Purpose**: Identify every unique liquidity pool deployed across Pharaoh V1, V2, and V3.
- **Logic**: Unique trading pairs are identified by parsing `PairCreated` events from V1 `Factory` contracts and `PoolCreated` events from V2 `Factory` and V3 `RamsesV3Factory` contracts. For each identified pool, the specific contract address and the addresses of the two constituent assets are extracted. Asset symbols are joined from asset metadata to facilitate pair naming.

### Component B: Initial appearance tracking

- **Purpose**: Determine the date of creation for each unique trading pair.
- **Logic**: The earliest block timestamp associated with each unique pool address is identified. The data is then truncated to a daily grain to establish the specific date each pair became tradeable on the exchange.

### Component C: Daily aggregation and cumulative sum

- **Purpose**: Calculate the total inventory of tradeable pairs available over time.
- **Logic**: The number of new trading pairs is aggregated by day and chain. For days where no new pools are created, the count is set to zero to maintain a continuous time series. A cumulative sum is then applied to the daily counts to determine the total number of tradeable pairs available at the end of each daily period.

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

Number of unique token pairs available for trading on the exchange.

PharaohPHAR

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Tradeable pairs

Tradeable pairs

Competitive landscape