Order Flow

The dex.orderflow model aggregates swaps from both dex.trades and dex.aggregator_trades by transaction_hash , allowing you to see the dex aggregator(s) that a single transaction utilised and the underlying liquidity sources (AMM pools) that it utilised

Methodology

Data Source

This model combines both `dex. trades and dex.aggregator_trades by transaction_hash.

Within each transaction, we roll up all swaps that are routed by aggregators and all swaps that are executed by pools.

The usd_volume of the swap is determined by the max usd_amount of the swap within the entire transaction.

The volume and swaps executed by all dex pools are aggregated in the liquidity_details column. For volume and swaps routed through dex aggregators, they are wrapped in the aggregator_details column

Example:

"[
  {
    ""pair"": ""L3P-WETH"",
    ""pool"": ""0x414b0de19d69c18657bcef0f30c72500598b1b88"",
    ""pool_index"": 104,
    ""project"": ""uniswap"",
    ""protocol"": ""uniswap_v2"",
    ""usd_amount"": 3.845936420455126e+03
  }
]"

Frontend Labeling

Internally, Allium maintains a mapping of key routers and aggregator routers which we use to label the transaction by the most probable frontend. The list contains routers, aggregators, meta-aggregators and telegram bots.

We attempt to make the best guess on identifying the front end used for each transaction by inferring from labelling the transaction. First, we label all transactions by the transaction's to address, which tells us the contract that the user interacted with.

These contracts may include a meta_aggregator, aggregator, router, mev_bot contract or a direct liquidity pool interaction (particularly for curve AMM pools).

  • meta_aggregator: A meta-aggregator is a contract that routes transactions to multiple other routers or aggregators.

  • aggregator: A contract that routes transactions to multiple other routers or aggregators. If it to_address is routed to a single router or aggregator, we will label it as such. Otherwise, we will take the first aggregator or router that the transaction is routed to as the aggregator.

  • router: A contract that routes transactions to multiple other routers or aggregators. If there to_address is a router or telegram bot, we label it as a router.

For frontend labelling, we take the following approach by preferentially selecting the meta_aggregator, then aggregator, then router, then liquidity pool and finally the mev_bot:

coalesce(meta_aggregator, aggregator, router, curve_direct, mev_bot_label)

The coalesce function returns the first non-null value in the list of arguments. If all the arguments are null, the coalesce function returns null and we cannot confidently label the frontend for the dex trades.

Sample Query

select
  date_trunc('week', block_timestamp) as date,
  -- Alternatively, one may assume the first dex aggregator or pools swapped, using:
  -- coalesce(frontend, aggregators[0]:project::varchar, pools[0]:project::varchar) as frontend,
  coalesce(frontend, 'others') as frontend,
  count(distinct swapper) as user_count,
  sum(usd_volume) as usd_volume
from ethereum.dex.orderflow
group by all
order by 1 desc

Output of this query: https://app.allium.so/s/NxGVkkU4

Table Columns

Unique Key: transaction_hash

Column NameDescription

frontend

The frontend interface used for the transaction

meta_aggregator

Meta aggregator involved in the transaction

aggregator

Aggregator involved in the transaction

router

Router used in the transaction

block_number

The block number in which the transaction was included

block_timestamp

The timestamp of the block in which the transaction was included

transaction_hash

The hash of the transaction

transaction_index

The index of the transaction within the block

from_address

The address initiating the transaction, also known as msg.sender

to_address

The address receiving the transaction, the smart contact address receiving the transactions

is_aggregator

Flag indicating if the transaction is an aggregator

usd_volume

The volume of the transaction in USD

total_usd_volume

The total volume of the transaction in USD

senders

Array of addresses sending tokens in the transaction

recipients

Array of addresses receiving tokens in the transaction

tokens_sold

Array of tokens sold in the transaction

tokens_bought

Array of tokens bought in the transaction

aggregator_source

Source of the aggregator

aggregator_usd_volume

USD volume of the aggregator

aggregators

Aggregators contracts involved in the transaction

aggregators_count

Count of aggregators involved in the transaction

aggregator_details

Details of the aggregators swaps involved

liquidity_source

Source of liquidity

liquidity_usd_volume

USD volume of liquidity

liquidity_pools

Liquidity pools involved in the transaction

liquidity_pools_count

Count of liquidity pools involved in the transaction

liquidity_details

Details of the liquidity pools swaps involved

total_trades

Total number of dex and dex aggregator trades in the transaction

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