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XSwap

XSwap | Data Breakdowns

# XSwap Average trading volume (per user) Methodology

## 1. Overview

Average trading volume (per user) is calculated as the total daily trading volume divided by the active users (daily) over a fixed 24-hour window. This metric is utilized to analyze the user profile of XSwap, indicating whether the platform is primarily used by retail traders (characterized by lower average volume) or institutional and high-net-worth traders (characterized by higher average volume). The calculation is performed daily and is denominated in USD.

## 2. Data sources

- **Blockchain events**: `Swap` events from `Pair` and `Pool` contracts, `Flash` events from `Pool` contracts, and `PairCreated` and `PoolCreated` events from `Factory` contracts, covering XDC Network
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Trading volume extraction

- **Purpose**: Capture and normalize swap volumes across V2 and V3 pools.
- **Logic**: Swap events are parsed from `Pair` contracts (V2) and `Pool` contracts (V3). Asset amounts are extracted and normalized by decimal precision using asset metadata. The trading volume in USD is calculated by multiplying the normalized asset amounts by end-of-day asset prices, taking the lesser USD value of the two assets in the swap to prevent double-counting.
- **Key fields**: `token0_amount`, `token1_amount`, `price_usd`

### Component B: Active user tracking

- **Purpose**: Identify unique active users (daily) interacting with the protocol.
- **Logic**: Unique user addresses are extracted from transaction sender fields by joining `Swap` events from `Pair` and `Pool` contracts and `Flash` events from `Pool` contracts with native transaction data. These addresses are aggregated daily to calculate the total active users (daily) for the protocol.
- **Key fields**: `user_address`, `block_timestamp`

### Component C: Average volume calculation

- **Purpose**: Calculate the average trading volume generated per user.
- **Logic**: The total daily trading volume is divided by the active users (daily) for each day. If either value is missing, the metric is filled with zero.
- **Key fields**: `trading_volume`, `user_dau`

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

Average trading volume (per user)

Trading volume divided by daily active users.

XSwapXSP

Average trading volume (per user)

Average trading volume (per user)

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