Token Price Calculation Mechanism
Our token price tracker for the Internet Computer network utilizes direct interactions with decentralized exchange (DEX) applications native to the Internet Computer platform. By querying pool canisters directly, we ensure real-time, accurate tracking of token metrics within the ecosystem
Process Overview:
- Direct Query to DEX Canisters: Regularly querying pool canisters on native Internet Computer DEX apps to obtain the latest market data for each token.
- Data Integrity: All retrieved data undergoes cleaning and verification steps to ensure accuracy and reliability.
- Price Estimation: Estimating the price of each token by analyzing data from the pool canisters.
- Volume Calculation: Determining trading volume by summing transaction volumes across all queried pools over a specified period.
- Data Filtering: Excluding data points that do not reflect free market conditions or significantly deviate from the norm to ensure accurate representation of prices and volumes.
This methodology ensures that the prices and volumes of tokens on the Internet Computer network are reflective of real market conditions, providing users with reliable and up-to-date information.