Pair Categories
The classification of pair categories is determined in a top-to-bottom manner.
- ETH-Stablecoin: the trade involves ETH and a stablecoin.
- Bitcoin: the trade involves a Bitcoin-pegged asset. Some notable trading pairs are BTC-ETH, BTC-USD, and BTC-BTC (for example, cbBTC-WBTC).
- Stablecoin Swaps: the trade has both the bought token and sold token as stablecoins.
- LST Swaps: the trade involves a Liquid Staking token.
- Tokenized Assets: the trade involves a tokenized asset. Examples include Gold, Equities, and Treasuries.
- Composite Tokens: the trade involves an composite asset. Examples include leveraged crypto tokens, portfolio of crypto tokens, and LP tokens.
- Project Tokens: the trade involves tokens that are issued by projects. An example would be governance tokens and L1 tokens (not including BTC or ETH).
- AI Agents: the trade involves an AI agent token.
- Memes: The remaining volume from known memecoins as well as unclassified tokens.