# Raydium Stable Swap Fees Methodology

## 1. Overview

Fees measures the total value paid by users to execute trades within the Raydium Stable Swap product. These fees are generated to incentivize liquidity provision for assets intended to trade at or near par, such as stablecoin pairs or liquid staking derivatives. For Raydium Stable Swap, a fixed fee architecture is utilized where 100% of the collected fees are allocated to liquidity providers as supply-side fees.

## 2. Data sources

- **Blockchain events**: DEX trade instructions from the Raydium Stable Swap program, covering Solana
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Raydium Stable Swap trade identification

- **Purpose**: Identify and extract trade data specifically for the Raydium Stable Swap program
- **Logic**: Instructions are filtered from Solana DEX trade records where the executing account or outer executing account matches the Raydium Stable Swap program. For each identified instruction, the base and quote asset mints, vault addresses, and raw trade amounts are extracted to facilitate volume and fee analysis.

### Component B: Raydium Stable Swap volume calculation

- **Purpose**: Determine the USD value of trade activity as the basis for fee application
- **Logic**: Trading volume is calculated by evaluating the USD value of the swap legs. To ensure accuracy and prevent double-counting, the USD value of assets identified as stablecoins or native SOL is prioritized. In instances where neither asset in the pair is a stablecoin or native SOL, the leg with the lower calculated USD value is selected as the representative volume for the transaction.

### Component C: USD conversion and aggregation

- **Purpose**: Apply the product-specific fee rate and normalize values to USD
- **Logic**: A fixed trade fee rate of 0.02% is applied to the determined trading volume for all Raydium Stable Swap transactions. Protocol and fund fee rates for this product are currently set to zero. Final fee amounts are normalized by asset decimal precision and converted to USD using end-of-day price feeds. Values are aggregated to daily totals using UTC day boundaries.

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

Total value users pay to use a protocol (gross fees, user-paid fees).

Fees

Exchanges (DEX)