# Thena Integral Trade count Methodology

## 1. Overview

Trade count is defined as the total number of unique swap transactions executed on Thena Integral. This metric is utilized to assess the frequency of user interactions and trading activity within the protocol's concentrated liquidity automated market maker (AMM). High trade counts are indicative of robust liquidity and active price discovery for the assets supported by the platform.

## 2. Data sources

- **Blockchain events**: `Swap` events from `AlgebraPoolV2` contracts, and `Pool` and `CustomPool` events from `AlgebraFactoryV2` contracts, covering BNB Chain

## 3. Step-by-step calculation

### Component A: Trading pair identification

- **Purpose**: Establish a registry of valid liquidity pools for Thena Integral.
- **Logic**: `Pool` and `CustomPool` events are parsed from `AlgebraFactoryV2` contracts to identify all trading pairs deployed through the V3 infrastructure. For each pool, the contract address, asset addresses, and decimal precision are recorded to enable the filtering and normalization of subsequent trade events.
- **Key fields**: `pool` (contract address), `token0` (asset address), `token1` (asset address)

### Component B: Swap event extraction

- **Purpose**: Capture individual trade executions performed on the exchange.
- **Logic**: `Swap` events are extracted from the `AlgebraPoolV2` contracts identified in Component A. These events are joined with native blockchain transaction data to identify the transaction signer and verify the block timestamp. The extraction is specifically restricted to events associated with the Thena Integral product on BNB Chain.
- **Key fields**: `transaction_hash` (unique identifier), `block_timestamp` (timing), `amount0` and `amount1` (swap quantities)

### Component C: Trade count aggregation

- **Purpose**: Calculate the final daily count of distinct trades.
- **Logic**: All identified trade events are aggregated by day. A distinct count of transaction hashes is performed to ensure that transactions involving multiple swap events (e.g., multi-hop swaps) are counted as a single trade. The values are grouped by chain and product, with the final results generated using UTC day boundaries.
- **Key fields**: `transaction_hash` (de-duplication key), `block_timestamp` (temporal dimension)

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

Number of trades executed on a decentralized exchange.

Trade count

Exchanges (DEX)

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

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

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

Thena Integral

Archived

Trade count

Trade count

Chain breakdown