Swaps And Exchange Rates

This section explains the incoming side of the USDM accounting.

The graph does not label a receipt as a swap because prose says so. A receipt is counted as a swap receipt only when the producing transaction consumes a SundaeSwap V3 order output and emits USDM to network_compliance.

What Must Hold

The swap receipt total must agree with the incoming term in the USDM accounting query:

sum(received USDM from swap consumers) = 425,131.618692 USDM

The rate rows are derived from the consumed order ADA and the USDM returned by the same consumer transaction.

Query Roles

• Query 19 - Swap receipts and rates lists every swap receipt and computes the realized rate.
• Query 08 - Sundae order consumer summary groups consumers by how many order inputs they spent.
• Query 10 - Swap consumer output roles shows all outputs produced by those same consumer transactions.

flowchart LR
  orders[Sundae V3 order outputs]
  consumers[Consumer transactions]
  receipts[USDM to network_compliance]
  rates[Realized rates]
  accounting[USDM accounting]

  orders --> consumers
  consumers --> receipts
  orders --> rates
  receipts --> rates
  receipts --> accounting