Liquidity providers deposit funds into QuickSwap and receive trading fees from traders (supply-side fees).

QuickSwap is a non-custodial exchange protocol built on Polygon. QuickSwap was founded by Nick Mudge & Sameep Singhania and launched in 2020.

QUICK tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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QuickSwap

# QuickSwap Average revenue per user (ARPU) Methodology

## 1. Overview

Average revenue per user (ARPU) measures the revenue generated per active user over a fixed 24-hour window. It is calculated as total daily revenue divided by active users (daily) and reflects the protocol's ability to monetize individual users on a daily basis. For QuickSwap, this metric captures activity across QuickSwap V2 and QuickSwap V3 products, including swap and flash loan interactions.

## 2. Data sources

- **Revenue**: Derived from the Revenue metric
- **Active users (daily)**: Derived from the Active users (daily) metric
- **Blockchain events**: `Swap` events from `Pair` contracts, plus `Swap`, `Flash`, `Fee`, and `CommunityFee` events from `Pool` contracts, covering Polygon, Base, and Manta
- **External data**: End-of-day price feeds for assets traded on the exchange

## 3. Step-by-step calculation

### Component A: Active user identification

- **Purpose**: Identify unique users interacting with the protocol daily
- **Logic**: Active users are identified by extracting the transaction signer address from `Swap` events in `Pair` contracts for QuickSwap V2 and from `Swap` and `Flash` events in `Pool` contracts for QuickSwap V3. Addresses are deduplicated daily per chain and product to determine the count of active users (daily). Certain trading pairs are excluded based on a denylist of addresses with limited price feed support.

### Component B: Trading and flash loan volume calculation

- **Purpose**: Calculate the total value of assets processed by the protocol
- **Logic**: Asset quantities are extracted from `Swap` and `Flash` events. For QuickSwap V2, the change in token balances is calculated from `Swap` events. For QuickSwap V3, amounts are extracted directly from the event parameters. All amounts are normalized by decimal precision and converted to USD using end-of-day price feeds. For swap transactions, a price manipulation filter is applied by using the lesser USD value between the two assets in the trading pair.

### Component C: Protocol revenue derivation

- **Purpose**: Determine the protocol's share of generated fees
- **Logic**: Revenue is calculated based on the specific fee structure of each product version. For QuickSwap V2, a protocol fee share of 1/6 is applied to the standard 0.3% swap fee. For QuickSwap V3 (Algebra), the protocol revenue is determined by applying the `protocol_fee_tier` (captured from `CommunityFee` events) to the trading volume. For QuickSwap V3 (UniV3) on Manta, a 10% share is applied to the total fees collected. Revenue from flash loans is calculated by applying the relevant `fee_tier` to the flash loan volume.

### Component D: ARPU calculation

- **Purpose**: Calculate the final average revenue per user
- **Logic**: The total daily protocol revenue is divided by the total number of unique active users (daily). The resulting value represents the average USD revenue generated by a single user within a 24-hour window. Daily granularity is maintained using UTC day boundaries.

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

QuickSwapQUICK

Average revenue per user (ARPU)

Average revenue per user (ARPU)

Competitive landscape