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Exchanges (DEX)

XSwap

XSwap | Data Breakdowns

# XSwap Trade count Methodology

## 1. Overview

The XSwap trade count metric measures the daily number of unique trading transactions executed on the XSwap decentralized exchange on the XDC blockchain. This metric counts distinct transactions that contain swap events, providing insight into daily trading activity and user engagement on the platform. The calculation aggregates swap events from both XSwap V2 and V3 protocol versions, counting each transaction only once regardless of how many individual swaps it contains.

## 2. Data sources

The calculation relies on these underlying raw data sources:

- **XDC blockchain swap events**: Parsed `Swap` events from XSwap V2 Pair contracts and XSwap V3 Pool contracts containing trade execution details, token amounts, and participant addresses
- **XDC blockchain factory events**: `PairCreated` events from V2 Factory contracts and `PoolCreated` events from V3 Factory contracts that define trading pair contract addresses and their underlying token pairs
- **XDC transaction records**: Complete transaction data including originating user addresses, transaction hashes, and block timestamps
- **Token metadata**: Token information including decimal places and symbols for proper amount normalization and pair naming

## 3. Step-by-step calculation

### Component A: Swap event extraction
- **Purpose**: Extract all swap transactions from XSwap V2 and V3 contracts on XDC
- **Logic**: Collect `Swap` events from both protocol versions, handling their different event structures. V2 events use `Pair_Swap_event` with `amount0In`, `amount0Out`, `amount1In`, and `amount1Out` fields, while V3 events use `Pool_Swap_event` with direct `amount0` and `amount1` fields. Each event captures the contract address, sender address, transaction hash, log index, and block timestamp. Token amounts are calculated as net flows for V2 (amount_in minus amount_out) and used directly for V3.
- **Key fields**: `transaction_hash` for trade identification, `block_timestamp` for time aggregation, `address` for contract identification, `sender` for participant tracking, and amount fields for trade size calculation

### Component B: Trading pair mapping
- **Purpose**: Map contract addresses to their underlying token pairs and metadata
- **Logic**: Extract trading pair definitions from factory contract events. V2 uses `Factory_PairCreated_event` with a fixed 0.3% fee tier, while V3 uses `Factory_PoolCreated_event` with variable fee tiers. Each pair maps a contract address to two token addresses (token0 and token1). Token metadata is joined to get decimal places for amount normalization and symbols for readable pair names.
- **Key fields**: `account_address` for contract identification, `token0_address` and `token1_address` for token pair definition, `token0_decimals` and `token1_decimals` for amount conversion, and `fee_tier` for trading fee information

### Component C: Transaction enrichment
- **Purpose**: Identify the actual users initiating trades
- **Logic**: Join swap events with XDC transaction records using transaction hashes to retrieve the originating user address (`from_address`). This distinguishes between the contract address that executed the swap and the actual user who initiated the transaction.
- **Key fields**: `from_address` as the actual trader, `transaction_hash` as the join key

### Component D: Volume calculation and normalization
- **Purpose**: Combine swap events with trading pair metadata and normalize token amounts
- **Logic**: Join swap events with trading pair data using contract address, chain, and version. Convert raw token amounts from wei or smallest units to human-readable amounts by dividing by 10 raised to the token's decimal places. Take absolute values of amounts to handle directional flows. Truncate block timestamps to daily boundaries for consistent aggregation.
- **Key fields**: `timestamp` truncated to day level, `token0_amount` and `token1_amount` normalized to proper decimal places, `transaction_hash` and `log_index` for trade identification

### Final aggregation
- **Combining components**: The processed swap data flows through the volume calculation component which serves as input for the final trade count aggregation
- **Currency conversion**: Not applicable for trade count metric as it only counts transactions, not their values
- **Time aggregation**: Group all trades by daily timestamp boundaries, then count distinct transaction hashes within each day to get unique trading transactions per day
- **Final calculation**: The final metric value is the count of distinct transaction hashes per day, ensuring each trading transaction is counted exactly once regardless of how many individual swap events it contains. The finalize_metric_trade_count macro applies standard formatting, fills missing dates with zero values, and ensures proper time series continuity.

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

Number of trades executed on a decentralized exchange.

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