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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Exchanges (DEX)

QuickSwap

# QuickSwap Average trading volume (per trade) Methodology

## 1. Overview

Average trading volume (per trade) measures the average USD value of a single swap executed on QuickSwap. This metric is calculated by dividing the total daily trading volume by the daily trade count. It serves as an indicator of the user base composition, where higher average values typically suggest institutional or whale activity, and lower values indicate a higher concentration of retail participants. The metric accounts for activity across QuickSwap V2 and QuickSwap V3.

## 2. Data sources

- **Blockchain events**: `Swap` events from `Pair` and `Pool` contracts, covering Polygon, Base, and Manta
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: QuickSwap V2 and QuickSwap V3 trade extraction

- **Purpose**: Capture raw swap data from all supported versions of the exchange.
- **Logic**: `Swap` events are parsed from `Pair` contracts for QuickSwap V2 and `Pool` contracts for QuickSwap V3. For each event, the change in token balances for both assets in the trading pair is extracted. Transactions involving denylisted trading pairs are filtered out to ensure data quality.
- **Key fields**: `token0_amount`, `token1_amount`, `transaction_hash`, `account_address`

### Component B: Volume normalization and USD conversion

- **Purpose**: Convert raw token amounts into a standardized USD value.
- **Logic**: Token amounts are normalized by decimal precision based on asset metadata. USD values for both assets in a pair are determined using end-of-day price feeds. To mitigate the impact of price manipulation or inaccurate pricing for low-liquidity assets, the lower USD value between the two tokens in the swap is selected as the representative trading volume for that transaction.
- **Key fields**: `price_usd`, `decimals`, `trading_volume`

### Component C: Trade count aggregation

- **Purpose**: Determine the total number of unique trades executed daily.
- **Logic**: The number of unique transactions is calculated by counting distinct transaction hashes associated with `Swap` events. This ensures that multiple events within a single transaction are not overcounted when determining the trade frequency.
- **Key fields**: `transaction_hash`

### Component D: Final metric calculation

- **Purpose**: Derive the average value per trade.
- **Logic**: Total trading volume is aggregated by day and chain. Similarly, the total count of unique transactions is summed for the same period. The final metric is calculated by dividing the total daily trading volume by the daily trade count. Values are zero-filled for days with no recorded activity.
- **Key fields**: `trading_volume`, `trade_count`

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

QuickSwapQUICK

Average trading volume (per trade)

Average trading volume (per trade)

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