Liquidity providers deposit funds into Wombat Exchange and receive WOM token rewards.

Wombat Exchange is a non-custodial exchange protocol built on BNB Chain. Wombat Exchange was founded by Alex Lee and launched in April 2022.

WOM tokenholders own and govern the protocol. They currently receive all trading fees paid by traders (revenue). Wombat Exchange’s investors include Binance Labs, Animoca Brands and Hailstone Ventures.

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Wombat Exchange

# Wombat Exchange Trading volume Methodology

## 1. Overview

Wombat Exchange trading volume measures the total USD value of swaps executed across all Wombat liquidity pools on multiple blockchains. This metric captures the aggregate trading activity by processing swap events from various pool contracts, converting token amounts to USD values, and applying anti-manipulation filters. The calculation aggregates daily trading volumes across all supported chains and pool types to provide a comprehensive view of Wombat's exchange activity.

## 2. Data sources

The calculation utilizes several key data sources:

- **Wombat swap events**: Parsed `Swap` and `SwapV2` event logs from Wombat pool contracts across BSC, Arbitrum, Ethereum, Avalanche, Optimism, and Base networks, capturing token swap details including token addresses, amounts, and pool information
- **Fee tier events**: Parsed `SetHaircutRate` event logs from various Wombat pool contracts that track fee tier updates over time
- **Transaction data**: Blockchain transaction records from all supported chains to identify user addresses initiating trades
- **Token metadata**: Token information including symbols, decimal places, and addresses for proper amount calculations and pool naming
- **End-of-day price feeds**: Daily USD price data for all tokens traded on Wombat pools to enable consistent volume measurement

## 3. Step-by-step calculation

### Component A: Trade event extraction
- **Purpose**: Extract and normalize all swap transactions from Wombat pools across supported chains
- **Logic**: The system processes `Swap` and `SwapV2` events from multiple pool contract types including main pools, cross-chain pools, side pools, dynamic pools, and various specialized pools (BnbxPool, FraxEthPool, etc.) across six blockchains. Each swap event captures the pool address, input token (`fromToken`), output token (`toToken`), input amount (`fromAmount`), and output amount (`toAmount`). Special handling maps certain wrapped token addresses to the WOM token address for consistency. The process joins swap events with transaction data to identify the actual user addresses initiating trades, distinguishing them from pool contract addresses
- **Key fields**: Pool `address`, `fromToken` and `toToken` addresses, `fromAmount` and `toAmount` values, transaction `from_address` as user, chain identifier

### Component B: Fee tier management
- **Purpose**: Track fee tiers for each pool over time to understand fee structures
- **Logic**: The system maintains fee tiers using a combination of hardcoded initial values and dynamic updates from `SetHaircutRate` events. Initial fee tiers are predefined for each pool type and chain combination (ranging from 0.00002 to 0.0025), with subsequent updates captured from on-chain `SetHaircutRate` events where the `value` parameter represents the new fee tier. Fee tier data is forward-filled to ensure continuous coverage, meaning each pool maintains its most recent fee tier value for days without explicit updates
- **Key fields**: Pool `address`, `fee_tier` values, `timestamp` for fee tier effective dates

### Component C: Daily volume aggregation with metadata
- **Purpose**: Aggregate trades by day and combine with token metadata for proper decimal handling
- **Logic**: Trades are grouped by day, pool address, and token pair, with token amounts corrected for decimal places using token metadata. The system joins with token information to obtain symbols and decimal values, then divides raw token amounts by the appropriate power of 10 based on each token's decimals. Pool names are constructed by concatenating token symbols with a hyphen separator. The aggregation sums corrected token amounts across all trades for each pool and day combination
- **Key fields**: Corrected `token0_amount` and `token1_amount`, pool `account_name` from token symbols, daily `timestamp`

### Component D: USD conversion and anti-manipulation filtering
- **Purpose**: Convert token amounts to USD values while preventing price manipulation
- **Logic**: Both token amounts in each trade are converted to USD using end-of-day price feeds matched by timestamp, chain, and token address. To prevent price manipulation attacks, the system takes the lesser of the two USD amounts (minimum of token0 USD value and token1 USD value) as the final trading volume for each trade. This approach ensures that if one token has an artificially inflated price, the volume calculation uses the more conservative USD value from the other token in the pair
- **Key fields**: `price_usd` from price feeds, calculated `trading_volume` as minimum USD value

### Final aggregation
- **Combining components**: All processed trades are grouped by day, chain, business line, market sector, business segment, version, pool address, token pair, and fee tier, with trading volumes summed across transactions
- **Currency conversion**: USD conversion occurs at the individual trade level using end-of-day token prices matched by date, chain, and token address
- **Time aggregation**: All volumes are aggregated to daily granularity using day-truncated timestamps from swap event block timestamps  
- **Final calculation**: The metric applies the `finalize_metric_trading_volume` macro with zero-filling strategy to ensure consistent daily coverage across all pools and chains, populating missing days with zero values rather than null

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

Total value of spot trades executed on the exchange.

Wombat ExchangeWOM

Trading volume

Trading volume

Competitive landscape

Chain breakdown