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Sun Swap

# Sun Swap Average trading volume (per user) Methodology

## 1. Overview

Average trading volume (per user) is calculated as the average trading volume generated per unique user over a fixed 24-hour window. This metric is determined by dividing the total daily trading volume by the number of active users (daily). It is utilized to evaluate user profiles, indicating whether trading activity is driven by retail or institutional participants. Trading activity and underlying trading volume across SUNSwap V1, SUNSwap V2, SUNSwap V3, and SUNSwap V4 are incorporated into the calculations.

## 2. Data sources

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

## 3. Step-by-step calculation

### Component A: Daily active user tracking

- **Purpose**: Identify and aggregate unique active users (daily) (traders) across SUNSwap V1, SUNSwap V2, SUNSwap V3, and SUNSwap V4
- **Logic**: Transaction senders are identified from swap transactions on Tron. Specifically, the signing wallet address (the transaction sender) is extracted from transactions that trigger `TokenPurchase` or `TrxPurchase` events from `Exchange` contracts (SUNSwap V1), `Swap` events from `Pair` contracts (SUNSwap V2), `Swap` events from `Pool` contracts (SUNSwap V3), or `Swap` events from `PoolManager` contracts (SUNSwap V4). These unique user addresses are aggregated daily to determine the active users (daily) for the protocol.
- **Key fields**: `block_timestamp` (timing), `user_address` (user identification), `product_id` (version identification)

### Component B: Trading volume extraction and normalization

- **Purpose**: Extract and normalize swap amounts for SUNSwap V1, SUNSwap V2, SUNSwap V3, and SUNSwap V4
- **Logic**: Swap amounts are extracted from `TokenPurchase` and `TrxPurchase` events from `Exchange` contracts (SUNSwap V1), `Swap` events from `Pair` contracts (SUNSwap V2), `Swap` events from `Pool` contracts (SUNSwap V3), and `Swap` events from `PoolManager` contracts (SUNSwap V4). For SUNSwap V1, the TRX and token amounts are extracted from purchase events. For SUNSwap V2, the net swap amount for each asset is calculated as the difference between the incoming and outgoing amounts. For SUNSwap V3 and SUNSwap V4, the signed asset amounts are extracted directly. All raw asset amounts are normalized by their respective decimal precision using asset metadata.
- **Key fields**: `amount0In` (incoming asset 0), `amount0Out` (outgoing asset 0), `amount1In` (incoming asset 1), `amount1Out` (outgoing asset 1), `amount0` (asset 0 amount), `amount1` (asset 1 amount), `decimals` (decimal precision)

### Component C: USD valuation and volume aggregation

- **Purpose**: Convert normalized asset amounts to USD and aggregate daily trading volume
- **Logic**: Normalized asset amounts are multiplied by end-of-day asset prices. To prevent valuation distortions from unpriced or illiquid assets, each swap is valued at the lesser of its two legs (the USD value of asset 0 versus asset 1). If one of the assets is classified as a tokenized stock, the trade is valued solely on that leg to avoid issues with unpriced counterparty assets. The resulting USD values are aggregated daily to calculate the total daily trading volume.
- **Key fields**: `price_usd` (asset price), `trading_volume` (USD volume)

### Component D: Average trading volume calculation

- **Purpose**: Calculate the average trading volume generated per unique user
- **Logic**: The total daily trading volume (derived from SUNSwap V1, SUNSwap V2, SUNSwap V3, and SUNSwap V4) is divided by the active users (daily) (derived from SUNSwap V1, SUNSwap V2, SUNSwap V3, and SUNSwap V4) for each day. A safe division is applied to handle cases where active user counts are zero, resulting in a final average trading volume (per user) value.
- **Key fields**: `trading_volume` (daily volume), `user_dau` (active users (daily)), `trading_volume_avg_per_user` (average volume per user)

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

Average trading volume (per user)

Trading volume divided by daily active users.

Sun Swap

Average trading volume (per user)

Average trading volume (per user)

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