Dex

The dex vertical contains trades and aggregator trades from major DEXs & Aggregators on Solana network.

Trades

solana.dex.tradescontains direct program calls to a dex program such as raydium's clmm (concentrated liq)

Aggregator Trades

solana.dex.aggregator_tradescontains direct program calls to an aggregator contract which in turn calls one or more liquidity sources to execute the trade

• routes the trade through liquidity sources from

  • dexes - those covered in solana.dex.trades

  • non-dexes such as marinade and openbook which provide liquidity as well.

Note on calculating volume

• When calculating aggregator volume via summing the usd_amountcolumn, you will get volumes per aggregator-swap, not at the hop level.

• To illustrate - if a user swaps $1000 thats hops through 2 amms:

  • sol -> usdc on meteora

  • usdc -> jto on meteora

  • This swap will be represented in solana.dex.aggregator_trades as 1 row and usd_amount = $1000.

  • This swap will be represented in solana.dex.trades as 2 rows and summing the 2 records i.e. summing across hops would get you trade volume of ~$2000

• This is seen in this dune dashboard, where volume is summed across hops, resulting in overcounting of volume.

• The equivalent of the dune dashboard with overcounting is here