# tradeXYZ PALLADIUM Trade count Methodology

## 1. Overview

This page covers the PALLADIUM market (`xyz:PALLADIUM`) on tradeXYZ, one of the markets deployed under the `xyz` namespace on Hyperliquid HyperCore. The calculation is identical across all tradeXYZ markets; the figures on this page are scoped to the PALLADIUM market.

The total number of trades executed across tradeXYZ products, such as xyz:AAPL and xyz:SP500, is measured by trade count. The frequency of user activity and market liquidity for assets traded through the project is reflected by this metric. All trades are executed on the HyperCore infrastructure and are identified through specific market namespacing.

## 2. Data sources

- **Blockchain events**: Node fill events from HyperCore, covering Hyperliquid

## 3. Step-by-step calculation

### Component A: Trade identification and filtering

- **Purpose**: Isolate tradeXYZ-specific trades and prevent double-counting of transaction sides
- **Logic**: Fill records are parsed from HyperCore data. Markets are identified by filtering for the `xyz:` prefix within the asset identifier field, which is used to denote tradeXYZ-attributed markets under the HIP-3 namespacing standard. To prevent the double-counting of trades, which are recorded for both the maker and taker sides in the underlying data, the dataset is filtered to include only the taker side where the `crossed` attribute is true.
- **Key fields**: `coin` (market identification), `crossed` (side identification)

### Component B: Daily aggregation

- **Purpose**: Generate daily trade totals
- **Logic**: The identified trade events are summed to produce a total count. Results are grouped by day, chain, and product. A zero-filling strategy is applied to ensure data continuity for days with no recorded trading activity.
- **Key fields**: `block_timestamp` (timing)

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

Number of trades executed on a decentralized exchange.

Trade count

Derivative markets

tradeXYZ earns a deployer share of trading fees on the perpetual markets it has deployed under Hyperliquid's HIP-3 framework. Markets are executed on Hyperliquid's HyperCore L1 order book; tradeXYZ does not operate its own matching engine. The default HIP-3 fee split allocates 50% of each user-paid fee to Hyperliquid and 50% to the deployer; tradeXYZ's deployerFeeScale is 1.0, so the standard split applies.

tradeXYZ offers USDC-settled perpetual contracts on US equities (TSLA, NVDA, AAPL, MSFT, ...), indices (S&P 500, XYZ100, NIFTY, KR200), commodities (gold, silver, Brent, WTI, copper), and FX (EUR, JPY, GBP, KRW), with leverage from 10x to 50x. All 77+ markets are deployed under the HIP-3 `xyz` namespace and execute on Hyperliquid's HyperCore order book. tradeXYZ runs all markets in HIP-3 growth mode, reducing user-facing fees by 90% versus standard HIP-3.

tradeXYZ is the first HIP-3 (builder-deployed perpetuals) deployment on Hyperliquid and the dominant builder by open interest, deployed by wallet 0x88806a71d74ad0a510b350545c9ae490912f0888. tradeXYZ is operated as a private company; no token has been issued.

PALLADIUM PerpetualPALLADIUM

Trade count

Trade count