# Thena Integral Trading volume Methodology

## 1. Overview

Trading volume for Thena Integral is defined as the total value of assets swapped through the protocol's concentrated liquidity pools. Market activity and liquidity utilization within the Thena Integral ecosystem are reflected by this metric. It serves as a primary input for calculating the protocol's fee generation and overall economic performance.

## 2. Data sources

- **Blockchain events**: `Swap` events from `AlgebraPoolV2` contracts, and `Pool` and `CustomPool` events from `AlgebraFactoryV2` contracts, covering BNB Chain
- **External data**: End-of-day price feeds for swapped assets

## 3. Step-by-step calculation

### Component A: Trading pair mapping

- **Purpose**: Associate active trading pools with their constituent assets
- **Logic**: Trading pairs are identified by parsing `Pool` and `CustomPool` events from `AlgebraFactoryV2` contracts. The underlying asset addresses and decimal precision for each pair are retrieved from asset metadata to facilitate accurate volume calculations.

### Component B: Swap data extraction

- **Purpose**: Capture the raw quantity of assets involved in each trade
- **Logic**: Trade data is extracted from `AlgebraPoolV2` contracts by parsing `Swap` events. Raw trade quantities for both assets in a pair are captured from each event, ensuring the full scope of the swap is recorded.

### Component C: Normalization and USD conversion

- **Purpose**: Convert raw on-chain data into a standardized fiat value
- **Logic**: Raw asset amounts are normalized by their respective decimal precision. Normalized amounts are then multiplied by end-of-day price feeds to determine the USD value of each asset involved in the trade.

### Component D: Volume aggregation and filtering

- **Purpose**: Calculate final daily volume while mitigating data outliers
- **Logic**: Trading volume is calculated by taking the lower USD value between the two assets in a swap to mitigate the impact of price manipulation or price feed inconsistencies. The resulting values are aggregated by day using UTC boundaries and zero-filled for days without recorded activity.

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

Total value of spot trades executed on the exchange.

Trading volume

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

Trading volume

Trading volume

Chain breakdown