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

Thruster is a non-custodial exchange protocol built on Blast. Thruster was launched in 2024.

Thruster team and investors own and govern the protocol. They currently take a cut of the total trading fees paid by traders, and earn native yield (revenue). Thruster's investors include Mirana Ventures, Manifold, OKX Ventures, etc.

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# Thruster Tradeable pairs Methodology

## 1. Overview

Tradeable pairs measures the number of unique asset pairs available for trading on Thruster. The depth of direct swap routes offered by the protocol across Thruster Classic and Thruster CLAMM is reflected by this metric. Growth, liquidity expansion, and market coverage of the decentralized exchange are assessed through the tracking of these pairs over time.

## 2. Data sources

- **Blockchain events**: `PairCreated` events from `ThrusterFactory03` and `ThrusterFactory1` contracts, and `PoolCreated` events from `ThrusterPoolFactory` contracts, covering Blast
- **External data**: Asset metadata for resolving asset symbols and decimal precision

## 3. Step-by-step calculation

### Component A: Pair and pool creation extraction

- **Purpose**: Extract the creation events of trading pairs and pools for Thruster Classic and Thruster CLAMM.
- **Logic**: `PairCreated` events are parsed from `ThrusterFactory03` and `ThrusterFactory1` contracts to identify Thruster Classic pairs. `PoolCreated` events are parsed from `ThrusterPoolFactory` contracts to identify Thruster CLAMM pools. For each event, the creation timestamp, unique pair or pool address, and the addresses of the two underlying assets are extracted. Fee tiers are normalized by dividing the raw fee value by one million.
- **Key fields**: `block_timestamp` (timing), `pair` or `pool` (unique address), `token0` (first asset address), `token1` (second asset address), and `fee` (fee tier).

### Component B: First appearance tracking

- **Purpose**: Identify the exact day each unique trading pair or pool was initialized.
- **Logic**: The minimum block timestamp is calculated for each unique pair or pool address, truncating the timestamp to daily granularity. This ensures each pair or pool is only counted once, on its first day of activity.
- **Key fields**: `block_timestamp` (creation time), `pair` or `pool` (unique address).

### Component C: Cumulative aggregation

- **Purpose**: Calculate the running total of tradeable pairs over time.
- **Logic**: The number of new unique pairs or pools is aggregated by day. Missing dates with no new pairs are filled with zero. A cumulative sum of these daily counts is calculated chronologically to determine the total number of tradeable pairs available on any given day.
- **Key fields**: `pair_count` (daily new pairs), `tradeable_pairs` (cumulative running total).

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

Number of unique token pairs available for trading on the exchange.

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Tradeable pairs

Tradeable pairs

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