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

SyncSwap is a non-custodial exchange protocol built on zkSync Era (originally a fork of Uniswap). SyncSwap was founded by an anonymous team in 2023.

The SyncSwap team owns and governs the protocol. They currently take a cut of the trading fees paid by the users (revenue).

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SyncSwap

# SyncSwap Flash loan volume Methodology

## 1. Overview

Flash loan volume measures the total USD value of flash loans issued through the SyncSwap protocol. Flash loans are uncollateralized loans that must be repaid within the same transaction, commonly used for arbitrage and liquidations. This metric captures the total amount borrowed (excluding fees) to understand the usage and liquidity demand for SyncSwap's flash loan functionality on zkSync Era.

## 2. Data sources

- **SyncSwap V1 event logs**: Parsed `FlashLoan` events from the SyncSwap V1 Vault contract on zkSync Era, containing loan amounts, fees, token addresses, and recipient information
- **Transaction data**: zkSync Era transaction records providing user addresses and transaction metadata
- **Token metadata**: Token reference data including symbols, decimal precision, and contract addresses for proper amount calculation
- **Price feeds**: End-of-day token price feeds in USD for currency conversion

## 3. Step-by-step calculation

### Component A: Flash loan event extraction
- **Purpose**: Extract and validate flash loan events from SyncSwap V1 protocol
- **Logic**: Filter SyncSwap V1 `FlashLoan` events from the Vault contract on zkSync Era. Join with transaction data to capture the actual user addresses who initiated the flash loans. Create unique identifiers by combining block number and log index. Extract key fields including loan amounts (`amount`), fees (`feeAmount`), token addresses (`token`), and recipient addresses (`recipient`)
- **Key fields**: `amount` (loan principal), `feeAmount` (loan fees), `token` (token address), `recipient` (loan recipient), `transaction_hash`, `block_timestamp`

### Component B: Daily aggregation and decimal correction
- **Purpose**: Aggregate flash loans by day and normalize token amounts
- **Logic**: Group flash loan events by day using timestamp truncation. Apply decimal correction by dividing raw token amounts by 10 raised to the token's decimal precision. Sum both loan amounts and fees within each day-token combination. Use absolute values to handle any negative amounts. Join with token metadata to get token symbols and decimal information
- **Key fields**: Corrected `amount` and `fee_amount` after decimal adjustment, `symbol` from token metadata, daily `timestamp`

### Component C: USD conversion
- **Purpose**: Convert token amounts to USD values using market prices
- **Logic**: Join aggregated daily amounts with end-of-day price feeds based on date, token address, and chain. Multiply corrected token amounts by corresponding USD prices. Handle missing prices by defaulting to zero value. Calculate total flash loan volume from loan amounts only (fees are tracked separately)
- **Key fields**: `flash_loan_volume` (USD value of loans), `fees` (USD value of fees), `price_usd`

### Final aggregation
- **Combining components**: Sum all flash loan volumes across tokens and transactions for each day
- **Currency conversion**: All amounts converted to USD using end-of-day price feeds matched by date, token, and chain
- **Time aggregation**: Daily aggregation with timestamp truncation to day boundaries
- **Final calculation**: Total USD value of flash loan principal amounts borrowed through SyncSwap V1, with zero-filling applied for days without flash loan activity

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

Total value of assets borrowed and repaid within the same transaction.

SyncSwap

Flash loan volume

Flash loan volume

Competitive landscape

Chain breakdown