Liquidity providers deposit funds into Zyberswap and receive trading fees from traders (supply-side fees).

Zyberswap is a non-custodial exchange protocol built on Arbitrum. Zyberswap was founded by anonymous team and launched in 2023.

ZYB tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Zyberswap

# Zyberswap Trading volume Methodology

## 1. Overview

Trading volume measures the total USD value of tokens traded on the Zyberswap decentralized exchange on Arbitrum. The metric captures swap activity across both Zyberswap v2 (using traditional AMM pairs) and v3 (using concentrated liquidity pools based on Algebra protocol). The calculation aggregates daily trading volumes from all swap transactions, applying anti-manipulation logic and dynamic fee tracking to ensure accurate volume measurement.

## 2. Data sources

- **Arbitrum swap events**: Parsed `Swap` events from Zyberswap v2 Pair contracts and `Swap` events from v3 AlgebraPool contracts containing token amounts and swap details
- **Arbitrum pool creation events**: `NewSwapPool` and `PairCreated` events from v2 contracts, plus `Pool` events from v3 AlgebraFactory contracts to identify valid trading pairs
- **Arbitrum fee update events**: `Fee` events from v3 AlgebraPool contracts tracking dynamic trading fee changes
- **Arbitrum protocol fee events**: `CommunityFee` events from v3 AlgebraPool contracts for protocol fee rate updates
- **Transaction data**: Arbitrum transaction records to identify actual user addresses versus contract addresses
- **Token metadata**: Token contract information including decimal precision and symbols for proper amount calculations
- **Price feeds**: End-of-day token price feeds for USD conversion of traded amounts

## 3. Step-by-step calculation

### Component A: Raw trade extraction
- **Purpose**: Extract all swap transactions from both Zyberswap v2 and v3 protocols
- **Logic**: Collect `Swap` events from v2 Pair contracts (using `amount0In`, `amount0Out`, `amount1In`, `amount1Out` fields) and `Swap` events from v3 AlgebraPool contracts (using `amount0`, `amount1` fields). Join each swap event with Arbitrum transaction data to identify the actual user address rather than just the contract address performing the swap. Filter events to start from January 23, 2023 when Zyberswap launched.
- **Key fields**: `block_timestamp`, `transaction_hash`, `account_address` (pool address), `user_address`, `token0_amount`, `token1_amount`

### Component B: Fee tier determination  
- **Purpose**: Determine the trading fee percentage for each swap transaction
- **Logic**: For v2 swaps, apply a hardcoded trading fee of 0.25%. For v3 swaps, join with `Fee` events from AlgebraPool contracts to get the dynamic fee rate that was active for each specific block. Fee events update the trading fee percentage for individual pools over time.
- **Key fields**: `fee_tier` (as decimal percentage), `version` (v2 or v3)

### Component C: Protocol fee calculation
- **Purpose**: Calculate the protocol fee component for revenue tracking
- **Logic**: For v2, apply a hardcoded protocol fee of 0.10%. For v3, multiply the trading fee by the protocol fee percentage from `CommunityFee` events. Protocol fees are forward-filled daily, meaning the most recent protocol fee setting applies to all subsequent trades until a new update occurs.
- **Key fields**: `protocol_fee_tier` (calculated as trading fee × protocol fee percentage)

### Component D: Trading pair metadata
- **Purpose**: Identify valid token pairs and obtain token decimal information
- **Logic**: Extract pool creation events from v2 (`NewSwapPool` and `PairCreated` events) and v3 (`Pool` events from AlgebraFactory). For multi-token v2 pools, create all possible token pair combinations. Join with token metadata to get decimal precision for each token in the pair, which is essential for converting raw blockchain amounts to actual token quantities.
- **Key fields**: `token0_address`, `token1_address`, `token0_decimals`, `token1_decimals`, `account_name`

### Component E: Daily volume aggregation
- **Purpose**: Aggregate swap data to daily trading volumes with proper decimal adjustment
- **Logic**: Group all swaps by day and trading pair. Convert raw token amounts to actual quantities by dividing by the appropriate power of 10 based on each token's decimal places. Take absolute values to handle both buy and sell directions. Sum the total amount traded for each token in each pair per day.
- **Key fields**: `timestamp` (daily), `token0_amount`, `token1_amount` (decimal-corrected)

### Final aggregation
- **Combining components**: All components are joined on pool address, timestamp, and version. Fee data is matched to the specific block number for v3 or applied universally for v2.
- **Currency conversion**: Convert both token amounts in each trade to USD using end-of-day price feeds matched by date, token address, and chain. Apply anti-manipulation logic by taking the lesser of the two USD amounts (token0 USD value vs token1 USD value) for each trade.
- **Time aggregation**: Sum all USD trading volumes per day across all pools and token pairs. Apply zero-filling to ensure continuous daily time series with no missing dates.
- **Final calculation**: The final trading volume equals the sum of all daily swap values in USD, where each swap value is the minimum of the two token amounts converted to USD, aggregated across all Zyberswap pools on Arbitrum.

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

Total value of spot trades executed on the exchange.

ZyberswapZYB

Trading volume

Trading volume

Competitive landscape