Liquidity providers deposit funds into SolidLizard and stake their LP tokens to receive SLIZ tokens (token incentives).

SolidLizard is a non-custodial exchange protocol built on Arbitrum. SolidLizard was founded by an anonymous team and launched in 2023.

SLIZ tokenholders own and govern the protocol. They vote for pools where they wish to receive trading fees and external bribes from, while pools receive SLIZ emissions in respect to their share of votes.

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Exchanges (DEX)

SolidLizard

# SolidLizard Trading volume Methodology

## 1. Overview

The SolidLizard trading volume metric measures the total USD value of trades executed on the SolidLizard decentralized exchange (DEX) on Arbitrum. This metric captures the daily trading activity by processing swap events from SolidLizard's AMM pools, converting token amounts to USD values, and aggregating them with price manipulation protection. The calculation provides insight into the exchange's market activity and liquidity utilization.

## 2. Data sources

The calculation relies on the following raw data sources:

- **Blockchain events**: SolidLizard v1 Arbitrum `PairCreated` events from the PairFactory contract and `Swap` events from individual Pair contracts
- **Transaction data**: Arbitrum transaction records containing user address information
- **Token metadata**: Token contract information including decimal precision for amount normalization
- **External data**: End-of-day token price feeds for USD conversion

## 3. Step-by-step calculation

### Component A: Trading pair identification
- **Purpose**: Identifies all SolidLizard trading pairs and their token compositions
- **Logic**: Extracts `PairCreated` events from the SolidLizard PairFactory contract on Arbitrum. Each event contains the addresses of the two tokens (`token0` and `token1`) and the created pair contract address. The system enriches this data with token metadata including decimal precision and symbols to create human-readable pair names in the format "TOKEN0-TOKEN1"
- **Key fields**: `account_address` (pair contract), `token0_address`, `token1_address`, `token0_decimals`, `token1_decimals`, `account_name`

### Component B: Trade data extraction  
- **Purpose**: Captures individual swap transactions from SolidLizard pairs
- **Logic**: Processes `Swap` events from SolidLizard Pair contracts on Arbitrum. Each swap event contains four amount fields representing tokens flowing in and out. The system calculates the net change for each token by subtracting amounts out from amounts in (`amount0In - amount0Out` and `amount1In - amount1Out`). Transaction records are joined to obtain the actual user address performing the swap, as the event only contains the immediate contract caller
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `account_address`, `user_address`, `token0_amount`, `token1_amount`

### Component C: Daily volume aggregation
- **Purpose**: Aggregates individual trades into daily trading volumes with decimal correction
- **Logic**: Groups swap data by day using timestamp truncation to daily boundaries. Joins trade data with trading pair information to obtain token decimal precision. Applies decimal correction by dividing raw token amounts by 10 raised to the power of token decimals. Takes absolute values of token amounts to handle both buy and sell directions uniformly. Sums the corrected amounts for both tokens across all trades in each day
- **Key fields**: `timestamp` (daily), `token0_amount` (decimal-corrected), `token1_amount` (decimal-corrected)

### Component D: USD conversion and price protection
- **Purpose**: Converts token amounts to USD values with price manipulation protection
- **Logic**: Joins daily aggregated token amounts with end-of-day token price feeds for both tokens in each pair. Multiplies the decimal-corrected token amounts by their respective USD prices. Applies price manipulation protection by taking the lesser of the two USD values (token0 amount × token0 price vs token1 amount × token1 price). This prevents inflated volume reporting from price manipulation attacks. Missing price data defaults trading volume to zero
- **Key fields**: `trading_volume` (USD value using minimum of both token calculations)

### Final aggregation
- **Combining components**: All trade-level USD volumes are summed daily across all SolidLizard pairs on Arbitrum
- **Currency conversion**: Uses end-of-day price feeds matched by date, token address, and chain
- **Time aggregation**: Daily boundaries are set using timestamp truncation, with volumes aggregated within each 24-hour period
- **Final calculation**: The final trading volume equals the sum of all individual trade USD values (using the minimum price calculation method) across all pairs for each day, with zero-fill applied for dates with no trading activity

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

Total value of spot trades executed on the exchange.

SolidLizardSLIZ

Trading volume

Trading volume

Competitive landscape