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

SpookySwap is a non-custodial exchange protocol built on Fantom. SpookySwap was launched in April 2021.

BOO tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue).

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SpookySwap

# SpookySwap Liquidity turnover Methodology

## 1. Overview

Liquidity turnover measures how efficiently SpookySwap's total value locked (TVL) generates trading volume. It is calculated by dividing daily trading volume by daily TVL, providing insight into capital efficiency and market activity relative to available liquidity. Higher turnover indicates more active trading relative to the locked capital.

## 2. Data sources

- **Blockchain events**: `Swap` and `Sync` events from `Pair` contracts, `PairCreated` events from `PairFactory` contracts, and native transaction records, covering Fantom
- **External data**: End-of-day asset price feeds, asset metadata, and a denylist of trading pairs with limited price support

## 3. Step-by-step calculation

### Component A: Trading pair identification

- **Purpose**: Identifies all valid SpookySwap V1 trading pairs on Fantom
- **Logic**: Extracts `PairCreated` events from `PairFactory` contracts. Each event contains the pair contract address and the two underlying asset addresses. A fixed fee tier of 0.2% is applied to all pairs. Pair metadata is joined with asset metadata to obtain decimal precision and symbols. Human-readable pair names are created by concatenating asset symbols. Pairs appearing in the denylist are excluded due to price feed limitations for low liquidity assets.
- **Key fields**: `account_address` (pair contract), `token0_address`, `token1_address`, `token0_decimals`, `token1_decimals`, `fee_tier`, `account_name`

### Component B: Trading volume calculation

- **Purpose**: Calculates daily USD trading volume for each trading pair
- **Logic**: Processes `Swap` events from `Pair` contracts. Each swap event contains input and output amounts for both assets in the pair. Net asset movements are calculated by subtracting output amounts from input amounts for each asset. Absolute values are taken to determine gross trading amounts. Data is joined with transaction records to obtain user addresses. Amounts are normalized by decimal precision and aggregated by day and trading pair. Asset amounts are converted to USD using end-of-day price feeds. Manipulation protection is applied by taking the lesser USD value between the two assets in each trade to prevent inflated volumes.
- **Key fields**: `token0_amount`, `token1_amount`, `trading_volume` (in USD), `timestamp`, `account_address`

### Component C: Reserve tracking and net deposits

- **Purpose**: Tracks changes in liquidity pool reserves to calculate net deposits
- **Logic**: Monitors `Sync` events from `Pair` contracts which emit updated reserve amounts whenever liquidity pools change. Daily aggregation is performed to identify the last reserve state for each pair. Amounts are normalized by decimal precision. Daily net deposits are calculated by taking the difference between consecutive days' reserve amounts. For the first day of a pair's existence, the full reserve amount is used as the initial deposit. Net deposit amounts are converted to USD using end-of-day price feeds.
- **Key fields**: `reserve0_amount`, `reserve1_amount`, `token0_amount` (net change), `token1_amount` (net change), `net_deposits` (in USD)

### Component D: TVL calculation
- **Purpose**: Calculates cumulative total value locked from net deposit flows
- **Logic**: The daily net deposits calculated from reserve changes are used to maintain a running cumulative sum representing TVL. Complete daily coverage is ensured through zero-filling for missing days. Chain availability filters are applied to exclude periods where data collection was not active.
- **Key fields**: `tvl` (cumulative USD value), `timestamp`, `chain_id`

### Final aggregation

- **Combining components**: Trading volume and TVL metrics are combined by dividing daily trading volume by daily TVL for each day
- **Currency conversion**: All amounts are converted to USD using end-of-day price feeds, with conversion applied after decimal normalization
- **Time aggregation**: Data is aggregated at daily boundaries using UTC timestamp truncation
- **Final calculation**: Liquidity turnover = Daily Trading Volume ÷ Daily TVL, with zero-filling applied for missing days and appropriate handling of division by zero cases

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

Trading volume divided by total liquidity.

SpookySwapBOO

Liquidity turnover

Liquidity turnover

Competitive landscape