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

Verse is an automated market maker-based decentralized exchange built on Ethereum. Verse was created by Bitcoin.com, and launched in 2022.

VERSE tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Verse's investors include Blockchain.com, KuCoin Ventures and others.

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Verse

# Verse Tradeable assets Methodology

## 1. Overview

The VerseX tradeable assets metric measures the cumulative count of unique tokens that have ever had trading pairs available on the VerseX decentralized exchange. This metric tracks the growth of tradeable assets on the platform over time by monitoring when new tokens become available for trading through pair creation events. The calculation maintains a running total that only increases when new tokens are first introduced to the exchange, providing insight into the platform's asset diversity and growth trajectory.

## 2. Data sources

- **VerseX smart contract events**: Parsed `PairCreated` events from the VerseX v1 SwapsFactory contract on Ethereum blockchain, which contain the token addresses for newly created trading pairs
- **Token metadata**: Token registry data providing symbols and decimal precision for display and identification purposes
- **Blockchain timestamp data**: Ethereum block timestamps to determine the exact timing of when tokens first became tradeable

## 3. Step-by-step calculation

### Component A: Trading pair identification
- **Purpose**: Identify all trading pairs that have been created on VerseX and extract the constituent tokens
- **Logic**: Extract data from `PairCreated` events emitted by the VerseX v1 SwapsFactory contract on Ethereum. Each event contains `pair`, `token0`, and `token1` fields representing the new pair contract address and the two tokens that can be traded. Apply a standardized fee tier of 0.3% (3000 basis points) to all pairs. Enrich with token metadata including symbols and decimals from the token registry to create readable pair names in the format "TOKEN0-TOKEN1"
- **Key fields**: `pair` (trading pair contract address), `token0` and `token1` (constituent token addresses), `block_timestamp` (when pair was created)

### Component B: Asset extraction and first appearances
- **Purpose**: Create a comprehensive list of all unique tokens and determine when each first became tradeable
- **Logic**: Extract all unique token addresses by combining both `token0` and `token1` addresses from all trading pairs using a union operation. This ensures that each token is counted regardless of whether it appears as the first or second token in any pair. Group by token address and chain, then calculate the minimum `block_timestamp` across all pairs containing each token to determine its first appearance on the platform. Truncate timestamps to daily granularity for consistent time-based aggregation
- **Key fields**: `token_address` (unique token identifier), `timestamp` (first appearance date), `chain` (blockchain identifier)

### Component C: Daily new asset aggregation
- **Purpose**: Count how many new tokens become tradeable each day
- **Logic**: Group first appearances by date and chain, then count the distinct number of token addresses that first appeared on each day. This creates a daily time series showing the rate of new asset additions to the platform
- **Key fields**: `timestamp` (daily date), `asset_count` (count of new tokens on that day)

### Component D: Time series gap filling
- **Purpose**: Ensure continuous daily time series without missing dates
- **Logic**: Apply zero-filling logic to insert records for any missing dates in the time series with an `asset_count` of zero. This ensures that the subsequent cumulative calculation correctly handles periods when no new tokens were added
- **Key fields**: `asset_count` (filled with zeros for missing dates)

### Final aggregation
- **Combining components**: The daily new asset counts are processed through a cumulative sum calculation partitioned by chain and ordered by timestamp
- **Currency conversion**: Not applicable - this metric counts assets rather than monetary values
- **Time aggregation**: Data is aggregated at daily granularity with timestamps truncated to day boundaries
- **Final calculation**: Calculate the running total of tradeable assets using a window function that sums the daily new asset counts over all previous dates. This creates a monotonically increasing count that represents the total number of unique tokens that have ever been tradeable on VerseX. Apply finalization macros to standardize the output schema, validate identifiers, and ensure no gaps in the time series through forward filling

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

Number of unique tokens tradeable on the exchange.

VerseVERSE

Tradeable assets

Tradeable assets

Competitive landscape