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XSwap

XSwap | Data Breakdowns

# XSwap Fees Methodology

## 1. Overview

xSwap fees represent the total trading and flash loan fees collected by xSwap decentralized exchange pools on the XDC blockchain. The metric captures fee revenue from two sources: trading activity (swaps) and flash loan usage. Fees are calculated by multiplying trading volume and flash loan volume by their respective fee tiers, which vary by pool. This metric answers the business question of how much fee revenue xSwap generates from its decentralized exchange operations.

## 2. Data sources

The calculation uses several data sources from the XDC blockchain:
- **Swap events**: Parsed `Swap` events from xSwap v2 Pair contracts and v3 Pool contracts on XDC
- **Flash loan events**: Parsed `Flash` events from xSwap v3 Pool contracts on XDC  
- **Factory events**: `PairCreated` events from v2 Factory contracts and `PoolCreated` events from v3 Factory contracts containing fee tier information
- **Transaction records**: XDC transaction data to link events to user addresses
- **End-of-day price feeds**: Token price data for USD conversion
- **Token metadata**: Token symbols and decimal precision information
- **Denylisted addresses**: Curated list of trading pairs excluded due to limited price feed support for low-liquidity tokens

## 3. Step-by-step calculation

### Component A: Trading volume extraction and processing
- **Purpose**: Extract and process trading volumes from swap events to calculate trading fees
- **Logic**: Parse `Swap` events from xSwap v2 Pair contracts (using `amount0In`, `amount0Out`, `amount1In`, `amount1Out` fields) and v3 Pool contracts (using `amount0`, `amount1` fields). For v2, calculate net token amounts by subtracting out amounts from in amounts. Join swap events with XDC transaction records to identify user addresses. Combine with trading pair dimensions from Factory contract events to obtain fee tiers and token metadata. Normalize token amounts by dividing by 10^decimals for each token. Aggregate trading data by day using timestamp truncation.
- **Key fields**: `token0_amount`, `token1_amount`, `fee_tier`, `token0_decimals`, `token1_decimals`, `sender` (contract user), `from_address` (transaction user)

### Component B: Trading volume USD conversion  
- **Purpose**: Convert trading volumes to USD values with price manipulation protection
- **Logic**: Join daily trading volumes with end-of-day token price feeds for both tokens in each pair. Convert token amounts to USD by multiplying normalized amounts by respective token prices. Apply price manipulation protection by taking the lesser of the two USD values (token0 USD amount vs token1 USD amount) for each swap. Sum the resulting USD trading volumes by day, chain, product, version, and fee tier.
- **Key fields**: `price_usd`, `trading_volume` (final USD amount)

### Component C: Flash loan volume extraction and processing
- **Purpose**: Extract and process flash loan volumes to calculate flash loan fees  
- **Logic**: Parse `Flash` events from xSwap v3 Pool contracts only (v2 does not support flash loans). Filter out trading pairs that appear in the denylist due to unreliable pricing. Join with XDC transaction records and trading pair dimensions. Normalize token amounts using decimal correction. Aggregate flash loan amounts by day, summing across all flash loans for each pool.
- **Key fields**: `amount0` (flash loan amount for token0), `amount1` (flash loan amount for token1), `sender` (flash loan initiator)

### Component D: Flash loan volume USD conversion
- **Purpose**: Convert flash loan volumes to USD values
- **Logic**: Join daily flash loan volumes with end-of-day token price feeds for both tokens. Convert both token amounts to USD by multiplying by respective prices. Sum the token0 USD amount and token1 USD amount to get total flash loan volume in USD (unlike trading volumes, both token amounts are added rather than taking the lesser value).
- **Key fields**: `flash_loan_volume` (total USD amount)

### Final aggregation
- **Combining components**: Use UNION ALL to combine trading fees (trading volume × fee tier) and flash loan fees (flash loan volume × fee tier). Both fee calculations use `safe_multiply()` function for numerical safety.
- **Currency conversion**: All volumes are already converted to USD in previous steps using end-of-day price feeds matched by timestamp, chain, and token address
- **Time aggregation**: Data is aggregated at daily boundaries using `timestamp_trunc(day)` and includes `timestamp_grain` field set to 'day'
- **Final calculation**: Sum all fees grouped by timestamp, chain, market sector ('exchanges'), business segment ('dex'), and product ('xswap'). Apply the `finalize_metric_fees` macro with 'fill_zeros' strategy to ensure consistent schema and handle missing data points. Filter results using `apply_chain_availability_filter` to include only supported chains.

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

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