# Uniswap V2 Trade count Methodology

## 1. Overview

Trade count measures the number of trades executed on a decentralized exchange. It shows how frequently users are buying or selling assets through the project. For Uniswap V2, this metric represents the daily count of unique swap transactions executed across all liquidity pools. Analyzing trade count helps institutional investors assess user engagement, liquidity pool activity, and transaction frequency over time.

## 2. Data sources

- **Blockchain events**: `PairCreated` events from `Factory` contracts and `Swap` events from `Pair` contracts, combined with native transaction data, covering Ethereum, Arbitrum, Base, Polygon, and 5 other chains

## 3. Step-by-step calculation

### Component A: Trading pool identification

- **Purpose**: Identifies valid Uniswap V2 liquidity pools and their associated assets.
- **Logic**: `PairCreated` events from `Factory` contracts are parsed to extract the pool address, asset addresses, and fee tiers. Denylisted trading pairs are identified using a curated list of addresses with limited price feed support and are excluded from the active pool registry.
- **Key fields**: `pair` (pool address), `token0` (first asset address), `token1` (second asset address)

### Component B: Trade event extraction

- **Purpose**: Captures individual swap transactions executed on Uniswap V2 pools.
- **Logic**: `Swap` events from `Pair` contracts are parsed to extract transaction details, including the block timestamp, transaction hash, log index, and pool address. These events are joined with the active pool registry to ensure only valid Uniswap V2 pools are included. Transactions are also joined with native blockchain transaction tables to verify transaction validity and map the transaction sender.
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `sender`

### Component C: Trade count aggregation

- **Purpose**: Calculates the daily number of unique trades.
- **Logic**: Trade events are filtered to isolate Uniswap V2 transactions. The transaction hashes are aggregated by day using UTC boundaries. The metric is calculated by counting the distinct transaction hashes for each day, chain, and product. Missing days are filled with zeros to ensure a continuous time series, and chain availability filters are applied to align with data freshness standards.
- **Key fields**: `timestamp`, `transaction_hash`, `trade_count`

*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 Uniswap and receive trading fees from traders (supply-side fees).

Uniswap is a non-custodial exchange protocol built on Ethereum. Uniswap was founded by Hayden Adams and launched in 2018.

UNI tokenholders own and govern the protocol. They do not currently take a cut of the total trading fees paid by traders (revenue). Uniswap's investors include Paradigm, a16z, USV, etc.

Uniswap V2

Trade count

Trade count

Chain breakdown