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Exchanges (DEX)

Sun Swap

# Sun Swap Average trading volume (per trade) Methodology

## 1. Overview

Average trading volume (per trade) is calculated to measure the average USD value of a single swap executed on SUNSwap V1, SUNSwap V2, SUNSwap V3, and SUNSwap V4. This metric is utilized to analyze the transaction profile of the decentralized exchange, and the user base composition is reflected, showing whether the platform is predominantly used by retail or institutional traders. The final value is derived by dividing the total daily trading volume by the daily trade count.

## 2. Data sources

- **Blockchain events**: `NewExchange`, `PairCreated`, and `PoolCreated` events from `Factory` contracts, `Initialize` events from `PoolManager` contracts, `TokenPurchase` and `TrxPurchase` events from `Exchange` contracts, and `Swap` events from `Pair`, `Pool`, and `PoolManager` contracts, covering Tron
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Trading pair registration

- **Purpose**: Identify and register active trading pairs and pools across SUNSwap versions
- **Logic**: Trading pairs and pools are identified by parsing `NewExchange`, `PairCreated`, and `PoolCreated` events from `Factory` contracts, as well as `Initialize` events from `PoolManager` contracts. For each registered pair, the contract address, asset addresses, and fee tiers are extracted. Asset decimals and symbols are joined from asset metadata to enable normalization.
- **Key fields**: `block_timestamp` (timing), `account_address` (pool identification), `token0_address` (first asset), `token1_address` (second asset), `fee_tier` (pool fee rate)

### Component B: Trade extraction and normalization

- **Purpose**: Extract individual swap transactions and calculate native asset swap amounts
- **Logic**: Individual trades are extracted from the blockchain. For SUNSwap V1, `TokenPurchase` and `TrxPurchase` events from `Exchange` contracts are parsed, and the amounts of TRX and assets swapped are determined. For SUNSwap V2, `Swap` events from `Pair` contracts are parsed, and the difference between incoming and outgoing amounts is calculated for each asset. For SUNSwap V3, `Swap` events from `Pool` contracts are parsed, and the signed asset amounts are extracted. For SUNSwap V4, `Swap` events from `PoolManager` contracts are parsed, and the signed asset amounts are extracted. All extracted asset amounts are normalized by their respective decimal precisions.
- **Key fields**: `block_timestamp` (timing), `transaction_hash` (transaction identification), `account_address` (pool identification), `token0_amount` (first asset quantity), `token1_amount` (second asset quantity)

### Component C: Daily trading volume calculation

- **Purpose**: Calculate the daily USD trading volume for the platform
- **Logic**: Normalized asset amounts from each trade are converted to USD using end-of-day price feeds. For each swap, the transaction is valued at the lesser of its two legs, except when a tokenized stock is involved, in which case the trade is valued on the stock leg. The daily trading volume is then aggregated by summing the USD values of all swaps executed within each UTC day.
- **Key fields**: `timestamp` (daily boundary), `trading_volume` (USD volume)

### Component D: Daily trade count calculation

- **Purpose**: Determine the total number of trades executed daily
- **Logic**: The daily trade count is calculated by counting the total number of swap events emitted across all active pools. Each individual swap event is counted as one trade, meaning multi-hop swaps that route through multiple pools are counted as multiple trades.
- **Key fields**: `timestamp` (daily boundary), `trade_count` (number of trades)

### Component E: Average trading volume calculation

- **Purpose**: Calculate the average trading volume per trade
- **Logic**: The average trading volume (per trade) is calculated by dividing the aggregated daily trading volume by the daily trade count. If the trade count is zero, the metric is filled with zero.
- **Key fields**: `timestamp` (daily boundary), `trading_volume_avg_per_trade_count` (average volume per trade)

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

Sun Swap

Average trading volume (per trade)

Average trading volume (per trade)

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