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 trading volume (per user) Methodology

## 1. Overview

Average trading volume (per user) measures the average USD value of trades executed by each unique active user over a 24-hour period. This metric is used to analyze the composition of the user base for QuickSwap V2 and QuickSwap V3, specifically distinguishing between high-volume institutional activity and lower-volume retail activity. It is calculated by dividing the total daily trading volume by the number of unique active users (daily).

## 2. Data sources

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

## 3. Step-by-step calculation

### Component A: Trading volume extraction

- **Purpose**: Capture the gross value of all swap activity across protocol versions.
- **Logic**: `Swap` events are parsed from `Pair` contracts for QuickSwap V2 and `Pool` contracts for QuickSwap V3. For V2, the net amount for each asset is calculated by subtracting the outgoing amount from the incoming amount. For V3, the asset amounts are extracted directly from the event parameters. Trading pairs identified in the denylist due to limited price support or low liquidity are excluded from the calculation.
- **Key fields**: `token0_amount`, `token1_amount`, `account_address`

### Component B: Active user identification

- **Purpose**: Identify the unique daily participants interacting with the protocol.
- **Logic**: Unique user addresses are identified by joining `Swap` and `Flash` events with the corresponding transaction data. The transaction sender address is used as the primary identifier for the active user. This ensures that both direct traders and users utilizing flash loan functionality are captured in the daily active user count.
- **Key fields**: `user_address`, `transaction_hash`, `block_timestamp`

### Component C: USD normalization and price protection

- **Purpose**: Normalize asset amounts to USD while mitigating the impact of price manipulation.
- **Logic**: Raw asset amounts are normalized by their respective decimal precision. USD values are calculated for both assets involved in a trade using end-of-day price feeds. To prevent data distortion from price manipulation or low-liquidity assets, the trading volume for each transaction is recorded as the lower USD value of the two assets in the pair.
- **Key fields**: `price_usd`, `decimals`, `trading_volume`

### Component D: Final metric aggregation

- **Purpose**: Calculate the average volume generated per unique user.
- **Logic**: Total trading volume is summed across all chains and versions for each 24-hour window. This total is divided by the count of unique active users (daily) identified in the same period. The calculation is performed at daily granularity using UTC day boundaries, with missing values filled with zeros to ensure a continuous time series.
- **Key fields**: `trading_volume`, `user_dau`

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

Average trading volume (per user)

Trading volume divided by daily active users.

QuickSwapQUICK

Average trading volume (per user)

Average trading volume (per user)

Competitive landscape