Trench Receipt / How we count

How we count

Every number on a receipt comes from public blockchain data. This page explains how it's calculated, and what we can't see.

Where the data comes from

• Solana: transaction history from Helius.
• Robinhood Chain, Base, Ethereum: transactions, token transfers and internal transfers from Blockscout.
• Prices and coin status: DexScreener (the most liquid pair for each coin). SOL's price comes from DexScreener, with Jupiter as a backup.

The period, and partial history

You pick 24 hours, 7, 30 (default), 90 or 180 days. We read the wallet's history newest-first until we reach the start of the period. Busy wallets can have thousands of transactions, so the read happens in several steps while you wait.

If we can't read the whole period (a very busy wallet hits our page limit, or the data provider stops answering), the receipt is marked Partial history. It shows the requested start date and the date the data actually reaches back to. Every number then covers only those dates. Partial receipts aren't ranked on the leaderboard.

How a transaction becomes a trade

• We look at how the wallet's balances changed in each transaction, not which app sent it.
• The wallet and the token accounts it owns are treated as one, so the small rent paid to open a coin account (and refunded when it closes) isn't counted as a cost or a profit. Wrapped SOL counts as SOL.
• USDC, USDT, USD1 and PYUSD count as dollars, converted to SOL at today's price.
• Buy: a coin comes in and SOL or stablecoins go out. Sell: a coin goes out and SOL or stablecoins come in.
• Received or sent: a coin moves with no payment (an airdrop, or a transfer between wallets). That's not a trade.
• Coin-for-coin swaps: if one side is a liquid coin with a known price, both sides are priced through it at today's price and marked "estimated". Otherwise they're listed as unpriced.
• Failed transactions aren't trades, but their fees still count.

Cost and profit

• Each coin uses average cost. Selling part of a position realizes profit or loss on that part.
• Unknown cost: coins bought before the period, or received from another wallet, have no known cost. When they're sold, that part of the sale is listed under "Sold, but the cost is unknown" and is not counted as profit or loss.
• Coins sent to another wallet are not a sale; their cost leaves the calculation.
• Realized: profit or loss on coins sold. Still held: today's value of coins still in the wallet, minus what was paid for them.
• Fees and tips: network and priority fees this wallet paid on every transaction, plus SOL it sent to others during a trade besides the trade itself (platform and bot fees, tips). Fees paid by a relayer, or taken inside a swap's price, aren't visible as separate fees; they're already part of the trade amounts.
• Total = realized + still held − fees and tips.
• Dollar figures use today's SOL or ETH price, not the price on the day of each trade.

Holdings that may not be sellable

If a holding is worth more than 10% of its pool's liquidity, selling it would likely move the price a lot. Those holdings are marked "hard to sell at this price". Their paper gains are shown on a separate "not counted" line and left out of the total, the grade, the rankings and the share image. Losses on them are counted.

Dead coins

A coin counts as dead if it now has under $1,000 of liquidity or under $5,000 market cap, or no trading pair at all. A dead coin on a receipt means you lost more than half of what you put in and the coin is now dead. Dead isn't proof of a rug: coins die for many reasons. If a coin's price lookup fails, it's never counted as dead.

Launches and the rug pattern

• Launches are coins created in this wallet's own transactions during the period (detected from the transaction that creates the coin, including launches made through launch tools). Liquidity-pool tokens and NFTs don't count. Each launch links to its creation transaction. pump.fun's profile page counts all-time launches, so it can show more.
• Rug pattern: a launch that is now dead, where the dev sold half or more of their coins within 60 minutes of launch, and made a profit of at least $100 and at least half of what they put in. That profit means other buyers likely lost money. It's a pattern on public data, not a legal finding.

Linked wallets

We look at the wallet that first funded this wallet and the wallets it sent SOL/ETH or coins to and from (swaps excluded, small amounts ignored). For up to 6 of them we check their recent transactions (about the last 100) for launches, rug patterns, being brand new, and launching coins the checked wallet traded. Labels: Red flags, Worth a look, No flags seen (in a small sample), Exchange or bot, Not enough data. A transfer between wallets doesn't mean the same person owns both, or that anyone did anything wrong.

Grades, win rate and what-ifs

• Win rate: share of closed positions (90% or more of the coins sold) that made a profit before fees.
• Grade: a score out of 100 from return on money spent (using the total, which leaves out paper gains in hard-to-sell coins), win rate, profit factor (wins ÷ losses), how often coins died on you, and holding losers much longer than winners. "RUG" means two or more launches show the rug pattern.
• What-ifs re-score your own trades as if you'd followed one rule (for example, skipping a time window). They're hindsight estimates: with different trades, prices and fills would have been different. Each one states its assumption.

Leaderboard

Complete 30-day receipts for wallets with at least 3 coins traded or 1 launch are added automatically. Each entry is that wallet's last 30 days as of when its receipt was printed, at that day's prices. "Printed today" means receipts printed today, not trades made today. "Worse than X% of wallets" compares against complete 30-day receipts checked so far, once there are at least 25.

What we can't see

• Trades split across several wallets: each receipt only covers one wallet.
• Money moved through exchanges or bridges.
• Coins with no pair on DexScreener can't be priced (they count as dead if they have no pair at all).
• Trades paid with non-stable tokens on Robinhood Chain, Base or Ethereum (for example a meme bought with a stock token) are skipped.
• Historical prices: dollar values use today's price.

Found a number that looks wrong? Every coin on a receipt links to its transactions. Tell us and include the receipt link.