# Pons V2 Bonding Curve Trading volume Methodology

## 1. Overview

Trading volume is defined as the total value of trades executed on the Pons V2 Bonding Curve. The overall liquidity and trading activity of newly launched assets during their bonding curve phase are reflected by this metric. By aggregating the volume of buy and sell transactions, the protocol's utility and its capacity to generate trading fees can be evaluated. This metric is utilized to assess investor interest and market demand for assets before graduation to automated market maker pools.

## 2. Data sources

- **Blockchain events**: `TokenLaunched` events from `LaunchFactory` contracts, and `CurveBuy` and `CurveSell` events from `Curve` contracts, covering Robinhood Chain
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Bonding curve deployment tracking

- **Purpose**: Active bonding curve contracts and their associated quote assets are identified.
- **Logic**: `TokenLaunched` events from `LaunchFactory` contracts are parsed to map each bonding curve address to its corresponding quote asset. The quote asset address is used to determine the denomination of the trading volume, with the zero address representing the native asset of the chain.
- **Key fields**: `curve` address and `pairToken` address

### Component B: Buy volume extraction

- **Purpose**: The volume of buy transactions executed on the bonding curves is captured.
- **Logic**: `CurveBuy` events from `Curve` contracts are parsed and filtered to match the identified bonding curve addresses. The volume is extracted from the `quoteIn` field, representing the amount of quote asset paid into the bonding curve to purchase the launched asset.
- **Key fields**: `quoteIn` representing the input quote asset amount

### Component C: Sell volume extraction

- **Purpose**: The volume of sell transactions executed on the bonding curves is captured.
- **Logic**: `CurveSell` events from `Curve` contracts are parsed and filtered to match the identified bonding curve addresses. The total volume for each sell transaction is calculated by summing the `quoteOut`, `fee`, and `tax` fields, representing the total quote asset value transacted during the sale.
- **Key fields**: `quoteOut` representing the output quote asset amount, `fee` representing the transaction fee, and `tax` representing the transaction tax

### Component D: Normalization and USD conversion

- **Purpose**: Trading volumes are normalized by asset decimals and converted to USD.
- **Logic**: The extracted buy and sell volumes are aggregated by day and quote asset. Native asset volumes are normalized using a precision of 18 decimals, while other quote assets are normalized using decimal values retrieved from asset metadata. The normalized volumes are then multiplied by end-of-day asset prices to calculate the final trading volume in USD. Daily boundaries are defined using UTC time.

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

Total value of spot trades executed on the exchange.

Trading volume

Exchanges (DEX)

Pons charges a 0.0005 ETH launch fee and a fee on every trade. Trade fees are shared between the protocol, the token creator and optional meme token buybacks.

Pons is a token launchpad on Robinhood Chain. Version 2 launches sell tokens on a bonding curve and graduate them into locked Uniswap v4 pools, while version 1 launches trade directly in Uniswap v3 pools.