Name: X2Y2 Trading volume Metrics
Creator: Token Terminal
License: https://tokenterminal.com/terms

Creators & users sell NFTs on X2Y2. They receive royalties from secondary sales (supply-side fees).

X2Y2 is a non-custodial NFT marketplace protocol built on Ethereum and launched in 2022.

X2Y2 tokenholders own and govern the protocol. They currently take a cut of the total transaction fees paid by buyers (revenue).

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# X2Y2 Trading volume Methodology

## 1. Overview

X2Y2 trading volume measures the total USD value of NFT trades executed on the X2Y2 marketplace on Ethereum. This metric captures the economic activity and liquidity of the X2Y2 NFT marketplace by summing the purchase prices of all completed NFT transactions. The calculation processes raw blockchain events from the X2Y2 Exchange contract, extracts trade details from encoded event data, and converts volumes to USD using end-of-day price feeds.

## 2. Data sources

- **X2Y2 Exchange events**: Parsed `EvInventory` events from the X2Y2 Exchange contract on Ethereum, which contain encoded trade execution data
- **Token metadata**: Token contract information for decimal precision correction
- **End-of-day price feeds**: Token price data for USD conversion of trading volumes
- **Chain availability configuration**: Supported blockchain network definitions

## 3. Step-by-step calculation

### Component A: Raw trade extraction
- **Purpose**: Extract and decode individual NFT trades from X2Y2 Exchange contract events
- **Logic**: Process `EvInventory` events from the X2Y2 Exchange contract on Ethereum. Use a JavaScript user-defined function to convert hexadecimal-encoded data fields into readable numbers. Extract token IDs from the encoded `item.data` field by parsing specific byte positions. Create unique trade identifiers by combining transaction hash with decoded token ID. Determine NFT buyer and seller addresses based on the `intent` field - when intent equals '1', the taker is the buyer, otherwise the maker is the buyer. Extract NFT contract addresses from encoded item data and identify payment tokens, substituting WETH address for null addresses.
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `token_id` (decoded from hex), `nft_buyer_address`, `nft_seller_address`, `nft_address`, `token_address`, `volume_amount` (from `detail.price`)

### Component B: Fee calculation and volume determination  
- **Purpose**: Calculate protocol fees, royalties, and determine the net trading volume for each trade
- **Logic**: Process fee structures from the unnested `detail.fees` array for each trade. Calculate fee amounts as percentages of the trade price, where protocol fees go to the X2Y2 fee address (`0xd823c605807cc5e6bd6fc0d7e4eea50d3e2d66cd`) and royalties go to other addresses. Determine the base trading volume from the `detail.price` field, but only count it once per trade by filtering for records where `fees_offset` equals zero or is null, preventing double-counting from the fee array expansion.
- **Key fields**: `protocol_fee_amount`, `royalty_amount`, `fee_amount`, `volume_amount` (filtered by fees offset)

### Component C: Daily aggregation
- **Purpose**: Group trades by day and sum trading volumes across all dimensions
- **Logic**: Truncate block timestamps to daily boundaries and group trades by day, chain, business line, market sector, business segment, product ID, version, contract details, and token address. Sum the `volume_amount` fields to get total daily trading volume for each combination of dimensions. This creates daily trading volume totals segmented by token and other business attributes.
- **Key fields**: `timestamp` (daily), `trading_volume` (summed), dimensional grouping fields

### Final aggregation
- **Combining components**: The daily aggregated volumes flow directly from the trade extraction and fee calculation components
- **Currency conversion**: Apply decimal correction based on token metadata, then convert trading volumes to USD using end-of-day price feeds matched by token address and date
- **Time aggregation**: Data is aggregated to daily grain using timestamp truncation to day boundaries
- **Final calculation**: Sum all USD-converted daily trading volumes, fill missing dates with zero values, and apply chain availability filters to ensure only supported network data is included. The final metric represents total daily USD trading volume on the X2Y2 NFT marketplace.

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

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