# Uniswap V4 Tradeable pairs Methodology

## 1. Overview

The number of unique asset pairs available for trading on Uniswap V4 is measured by the Tradeable pairs metric. The total number of direct swap routes established on the decentralized exchange is reflected by this metric, indicating the depth and breadth of market coverage. By aggregating the cumulative creation of unique liquidity pools, the growth of the trading ecosystem is quantified over time. This metric is utilized to evaluate the expansion of Uniswap V4 across different blockchain networks.

## 2. Data sources

- **Blockchain events**: `Initialize` events from `PoolManager` contracts, covering Ethereum, Arbitrum, Base, Optimism, and 7 other chains
- **External data**: Asset metadata for decimals and symbol mapping

## 3. Step-by-step calculation

### Component A: Uniswap V4 pool initialization tracking

- **Purpose**: Identify newly initialized Uniswap V4 liquidity pools.
- **Logic**: `Initialize` events from `PoolManager` contracts are parsed to extract the pool identifier, the contract address, the hook contract address, and the addresses of the two assets comprising the pair. If either asset address matches a null address, it is replaced with the wrapped native asset address designated for that specific chain. Asset metadata is joined to retrieve decimals and symbols for pool naming.
- **Key fields**: `block_timestamp`, `address` (account address), `id` (pool identifier), `currency0` (first asset address), `currency1` (second asset address), `hooks` (hooks address), and `transaction_hash`.

### Component B: Uniswap V4 daily unique pair aggregation

- **Purpose**: Determine the first appearance of each unique liquidity pool on a daily basis.
- **Logic**: The minimum timestamp of pool initialization is calculated for each unique pool identifier, grouped by day, chain, and product. The daily count of newly created unique pools is then aggregated using a distinct count of pool identifiers.
- **Key fields**: `timestamp`, `pool_id` (pool identifier), and `pair_count`.

### Component C: Uniswap V4 cumulative tradeable pairs calculation

- **Purpose**: Calculate the running total of tradeable pairs over time.
- **Logic**: Empty daily intervals are filled with zero values to ensure continuous time series data. A cumulative sum of the daily new pool counts is calculated sequentially over time, partitioned by chain and product, to determine the total number of tradeable pairs available on any given day. Chain availability filters are applied to exclude restricted chains such as Blast.
- **Key fields**: `timestamp`, `chain_id`, `product_id`, and `tradeable_pairs`.

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

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

Tradeable pairs

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 V4

Tradeable pairs

Tradeable pairs

Chain breakdown