Tinyman: Tracking AMM Volume and Fees on Algorand

2026-07-27

Tinyman is the leading decentralised AMM on the Algorand blockchain. It follows the constant-product x*y=k model and allows any Algorand Standard Asset pair to be traded permissionlessly. Launched in 2021, it has since become Algorand's primary on-chain liquidity venue with over $1.3 billion in all-time volume.

Every swap on Tinyman incurs a 0.3% trading fee. One-sixth of that fee (0.05%) goes to the Tinyman treasury as protocol revenue, while the remaining five-sixths (0.25%) are distributed to liquidity providers who supplied the assets to the pool. This standard AMM split makes the math straightforward once you have the trade volumes: protocol revenue is exactly one-sixth of total fees.

What made this adapter interesting was Algorand itself. Algorand does not use the EVM: it has its own transaction model and data structures. There are no Solidity event logs to read. Instead, the adapter queries the Algorand Indexer API, identifies swap transactions by their Application ID (Tinyman's contract app IDs), and parses the inner transaction amounts to compute input and output token quantities. The 0.3% fee is derived from the input amount, and the treasury share is extracted. Volume is computed from the USD value of the input token at swap time using Algorand-native price feeds. This was a meaningful departure from the EVM-first approach used for most DEX adapters.

All-time volume stands at $1.38 billion, with about $2.5 million in the past seven days and $171,000 in the most recent day. Tinyman's steady volume reflects its position as the infrastructure layer for the Algorand DeFi ecosystem, where it serves as the reference liquidity venue for ASA token pairs.

Website: tinyman.org · Twitter: @tinymanorg