Market makers offer trades through order book & make money on bid-ask spreads paid by takers.

0x is a non-custodial exchange protocol built on Ethereum. 0x was founded by Amir Bandeali & Will Warren and launched in 2016.

ZRX tokenholders own and govern the protocol. They currently do not take any of the total trading fees paid by traders (revenue). 0x’s investors include Coinbase Ventures, Jump Capital, Pantera Capital, etc.

governance

github

twitter

discord

etherscan

website

Exchanges (DEX)

# 0x Active users (daily) Methodology

## 1. Overview

The 0x Daily Active Users (DAU) metric measures the number of unique user addresses that interact with the 0x protocol each day. This metric answers the business question "How many distinct users are actively trading through 0x on a daily basis?" The calculation identifies unique trader addresses (takers) from 0x protocol transactions and counts them per day across all supported blockchain networks.

## 2. Data sources

The calculation relies on the following raw data sources:
- **0x protocol transaction data**: Raw transaction records from 0x smart contracts containing trader interactions, transaction metadata, and user addresses
- **Blockchain transaction records**: Underlying blockchain transaction data that includes timestamps, transaction hashes, and log indices for proper event identification
- **Multi-chain data**: Transaction data from all blockchain networks where 0x protocol operates

## 3. Step-by-step calculation

### Component A: User event extraction
- **Purpose**: Extract and normalize user interaction events from raw 0x protocol transaction data
- **Logic**: Parse raw 0x transaction records to identify user addresses from the `taker` field in each transaction. Extract essential metadata including transaction timestamp, transaction hash, log index, and blockchain chain identifier. Normalize chain names to lowercase for consistency. Classify all extracted users as 'Trader' type since they represent active participants in 0x DEX transactions. Categorize all users under the 'exchanges' market sector and 'dex' business segment to reflect the nature of 0x as a decentralized exchange protocol.
- **Key fields**: `taker` address as the primary user identifier, `timestamp` for temporal grouping, `chain` for multi-chain analysis, `transaction_hash` and `log_index` for event uniqueness

### Component B: Daily aggregation and distinct counting
- **Purpose**: Group user events by day and count unique active users
- **Logic**: Truncate transaction timestamps to daily granularity using day-level time boundaries. Group all user events by the truncated daily timestamp and chain. Apply distinct counting to the user addresses to eliminate multiple transactions from the same user within a single day. Preserve chain-level granularity to enable cross-chain analysis while maintaining daily time grain for the metric.
- **Key fields**: `timestamp` truncated to day level, `user_address` for distinct counting, `chain` for network-specific analysis

### Final aggregation
- **Combining components**: The user extraction component feeds directly into the daily aggregation component, with each user event contributing to the daily distinct count
- **Currency conversion**: Not applicable for user counting metrics
- **Time aggregation**: Daily boundaries are established using timestamp truncation to day granularity, ensuring consistent daily periods across time zones
- **Final calculation**: Count distinct user addresses per day and chain combination. Apply chain availability filtering to ensure only valid blockchain networks are included. Filter out future dates to maintain data integrity. The final metric represents the number of unique trader addresses that executed at least one transaction through 0x protocol on each given day.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique revenue-generating users over a fixed 24-hour window.

0xZRX

Archived

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown