# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) measures the number of unique addresses that make a revenue-generating transaction with a project, i.e. An application or a blockchain. Active users (monthly) are measured over a 30-day rolling window. For Aave V3, this metric is utilized to evaluate user engagement, adoption, and transaction activity across the protocol's lending and borrowing markets. By tracking unique active addresses interacting with the smart contracts, a clear representation of the protocol's monthly utility and user base is provided. Interactions are categorized by user roles, including depositors, withdrawers, borrowers, repayers, flashloan initiators, liquidators, and liquidated accounts.

## 2. Data sources

- **Blockchain events**: `Borrow`, `FlashLoan`, `Repay`, `Supply`, and `Withdraw` events from `LendingPool` contracts on EVM chains, as well as `Borrow` and `Repay` events from `BorrowLogic` contracts, `FlashLoan` events from `FlashLoanLogic` contracts, `Supply` and `Withdraw` events from `SupplyLogic` contracts, and `LiquidationCall` events from `LiquidationLogic` contracts on Aptos, covering Ethereum, Arbitrum, Avalanche, Base, and 12 other chains

## 3. Step-by-step calculation

### Component A: EVM user extraction

- **Purpose**: Extract unique user addresses from EVM-based Aave V3 deployments
- **Logic**: EVM-based transactions are parsed from `LendingPool` contracts. For `Borrow`, `Repay`, `Supply`, and `Withdraw` events, the user address is extracted from the `user` field. For `FlashLoan` events, the user address is extracted from the `initiator` field. Each extracted address is mapped to its respective user type (such as Borrower, Repayer, Depositor, or Withdrawer) and associated with the Aave V3 product identifier.
- **Key fields**: `block_timestamp`, `transaction_hash`, `user`, `initiator`

### Component B: Aptos user extraction

- **Purpose**: Extract unique user addresses from Aptos-based Aave V3 deployments
- **Logic**: Aptos-based transactions are parsed from specialized logic contracts. For `Borrow` and `Repay` events from `BorrowLogic` contracts, the user address is extracted from the `user` field. For `FlashLoan` events from `FlashLoanLogic` contracts, the initiator address is extracted from the `initiator` field. For `Supply` and `Withdraw` events from `SupplyLogic` contracts, the user address is extracted from the `user` field. For `LiquidationCall` events from `LiquidationLogic` contracts, both the liquidator address (from the `liquidator` field) and the liquidated user address (from the `user` field) are extracted. Each address is mapped to its respective user type and associated with the Aave V3 product identifier.
- **Key fields**: `block_timestamp`, `transaction_hash`, `user`, `initiator`, `liquidator`

### Component C: Unified aggregation and monthly deduplication

- **Purpose**: Combine all extracted user interactions and calculate monthly unique active users
- **Logic**: Extracted user records from both EVM and Aptos sources are combined into a single unified dataset. The transaction timestamps are analyzed over a 30-day rolling window. Distinct user addresses are aggregated per 30-day window, chain, user type, and product identifier to determine the active users (monthly). Chain availability filters are applied to ensure data completeness and freshness.
- **Key fields**: `block_timestamp`, `user_address`, `chain`, `user_type`, `product_id`

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

Unique revenue-generating users over a rolling 30-day window.

Active users (monthly)

Lending

Lenders deposit funds into Aave and receive interest payments from borrowers (supply-side fees).

Aave is a non-custodial lending protocol built on Ethereum and other adjacent blockchains. Aave was founded by Stani Kulechov and launched in 2017.

AAVE tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue). Aave’s investors include ParaFi Capital, Framework Ventures, Three Arrows Capital, etc.

Aave V3

Active users (monthly)

Active users (monthly)

Chain breakdown