twitter

website

github

discord

Exchanges (DEX)

ProjectX

# ProjectX Trade count Methodology

## 1. Overview

Trade count measures the number of trades executed on Project X. This metric is used to show how frequently assets are bought or sold through the decentralized exchange. Trading activity is captured at the pool level, providing insight into liquidity utilization and user engagement across the platform.

## 2. Data sources

- **Blockchain events**: `Swap` events from `Pool` contracts, covering HyperEVM

## 3. Step-by-step calculation

### Component A: Swap event extraction

- **Purpose**: Extract individual swap transactions from the liquidity pools
- **Logic**: `Swap` events are parsed from `Pool` contracts on HyperEVM. These events are joined with native transactions to verify transaction details and filter for transactions occurring on or after July 8, 2025. For each event, the transaction hash, block timestamp, sender address, and asset amounts are extracted.
- **Key fields**: `block_timestamp`, `transaction_hash`, `sender` (contract user address), `from_address` (user address), `amount0`, and `amount1`

### Component B: Trade aggregation

- **Purpose**: Aggregate individual swap events into daily trade counts
- **Logic**: Every individual `Swap` event is counted as a single trade. Multi-hop routes that interact with multiple pools are counted as separate trades for each pool interaction. The total number of trades is aggregated by day, chain, and product ID.
- **Key fields**: `block_timestamp`, `product_id`, `chain_id`

### Component C: Zero-filling and finalization

- **Purpose**: Ensure data continuity and schema consistency
- **Logic**: The aggregated daily trade counts are processed to ensure correct data types and valid chain and project identifiers. A zero-filling strategy is applied to insert a value of zero for days with no trading activity, ensuring a continuous daily time series.
- **Key fields**: `timestamp`, `trade_count`

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

Number of trades executed on a decentralized exchange.

ProjectX

Trade count

Trade count

Competitive landscape