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

Voltz Protocol is a non-custodial Automated Market Maker (AMM) for Interest Rate Swaps deployed on Ethereum.

Voltz DAO owns and governs the protocol. They do not currently take a cut of the total trading fees paid by traders (revenue). Voltz’s investors include Framework, Fabric Ventrues etc.

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Voltz

# Voltz Notional trading volume Methodology

## 1. Overview

Notional trading volume measures the total value of interest rate swap positions traded on the Voltz protocol across all supported blockchain networks. This metric captures both the opening and closing of interest rate swap positions, providing insight into trading activity and market liquidity within Voltz's automated market maker (AMM) for interest rate derivatives. The calculation aggregates absolute trading volumes on a daily basis and converts them to USD for standardized reporting.

## 2. Data sources

- **Voltz protocol swap events**: Parsed blockchain events from Voltz smart contracts on Ethereum and Arbitrum, including `vamm_Swap_event`, `Vamm_Swap_event`, and `Fcm_FullyCollateralisedSwap_event` that capture interest rate swap position changes
- **Voltz factory events**: `Factory_IrsInstance_event` logs from pool creation that provide token metadata and decimal information for proper volume calculation
- **Token metadata**: Reference data containing token addresses, decimal places, and other token-specific information needed for volume normalization
- **End-of-day price feeds**: Token price data used for USD conversion of trading volumes
- **Blockchain transaction data**: Ethereum and Arbitrum transaction records providing timestamps and transaction context for swap events

## 3. Step-by-step calculation

### Component A: Raw swap event extraction
- **Purpose**: Extract and normalize all interest rate swap trading events from Voltz protocol contracts
- **Logic**: The system identifies swap events across multiple Voltz contract types on Ethereum and Arbitrum. For each swap event, it captures the `variableTokenDelta` field which represents the notional amount of the position change. The absolute value is taken to ensure both position opens (positive delta) and position closes (negative delta) contribute positively to trading volume. Each event is joined with corresponding pool creation events to obtain the underlying token address and decimal information needed for proper amount calculation.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` and `log_index` for event identification, `address` for the trading account, `variableTokenDelta` for the raw notional amount, `underlyingToken` for the token being traded, and `underlyingTokenDecimals` for normalization

### Component B: Volume calculation and normalization  
- **Purpose**: Convert raw event amounts to properly formatted notional volumes in native token units
- **Logic**: For each swap event, the raw `variableTokenDelta` amount is normalized by dividing by 10 raised to the power of the token's decimal places. This converts the integer representation used in smart contracts to the actual token amount. The absolute value ensures all trading activity contributes positively to volume regardless of position direction (long or short). Events are classified with business metadata including market sector as derivatives, business segment as perpetual, and business line as interest rate swaps.
- **Key fields**: `amount` as the calculated notional volume, `token_address` for the underlying asset, `chain` for the blockchain network, and various business classification fields

### Component C: Daily aggregation and metadata joining
- **Purpose**: Group trading volumes by day and enrich with token metadata for USD conversion
- **Logic**: Trading events are aggregated by truncating timestamps to daily boundaries. Each day's data is grouped by chain, token address, and business classification fields. The aggregation preserves individual swap amounts rather than summing them at this stage, maintaining granular records for each trading event. Token metadata is joined to enable subsequent price conversion processing.
- **Key fields**: `timestamp` truncated to day, `timestamp_grain` set to day, `chain_id`, `token_address`, and `notional_trading_volume` amounts

### Final aggregation
- **Combining components**: Individual swap event volumes are processed through USD conversion using end-of-day token prices and decimal correction logic. The conversion macro handles price lookups and currency transformation automatically.
- **Currency conversion**: Notional volumes are converted from native token amounts to USD using end-of-day price feeds. The conversion accounts for token decimal places and applies appropriate exchange rates for each trading day.
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation. The finalization process applies zero-filling for days with no trading activity to ensure complete time series coverage.
- **Final calculation**: The final metric represents the sum of all absolute notional trading volumes for Voltz interest rate swaps, converted to USD and aggregated by day, chain, and token. Each record shows the total daily notional trading volume for a specific token on a specific blockchain network.

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

Total USD value of derivative contracts executed on the protocol.

Voltz

Notional trading volume

Notional trading volume

Competitive landscape

Chain breakdown