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.

governance

github

twitter

discord

etherscan

website

Lending

Aave

Aave | Data breakdown

# Aave Active users (daily) Methodology

## 1. Overview

Active users (daily) is measured as the number of unique addresses associated with executed revenue-generating transactions on Aave. This metric is utilized to evaluate daily user engagement and adoption across Aave V2, Aave V3, and Aave V4. By aggregating distinct addresses by which core actions—such as supplying, borrowing, repaying, withdrawing, initiating flash loans, or executing liquidations—are performed, the active demand for the protocol's lending and borrowing services is assessed.

## 2. Data sources

- **Blockchain events**: `Borrow`, `Deposit`, `Supply`, `Withdraw`, `Repay`, and `FlashLoan` events from `LendingPool` and `AMMLendingPool` contracts; `Borrow`, `Repay`, `Supply`, `Withdraw`, and `LiquidationCall` events from `Spoke` contracts; and `Borrow`, `Repay`, `FlashLoan`, `LiquidationCall`, `Supply`, and `Withdraw` events from `BorrowLogic`, `FlashLoanLogic`, `LiquidationLogic`, and `SupplyLogic` contracts, covering Ethereum, Arbitrum, Avalanche, Base, Polygon, and 11 other chains

## 3. Step-by-step calculation

### Component A: EVM user event extraction

- **Purpose**: Active user addresses are extracted from EVM-based deployments of Aave V2, Aave V3, and Aave V4.
- **Logic**: User addresses are extracted from transaction events across EVM chains. For `Borrow`, `Deposit`, `Supply`, `Withdraw`, and `Repay` events, the `user` address is captured. For `FlashLoan` events, the `initiator` address is captured. For `LiquidationCall` events, the `liquidator` address is captured. These addresses are classified into user types such as Borrower, Repayer, Depositor, Withdrawer, and Liquidator, and mapped to their respective products (Aave V2, Aave V3, or Aave V4).
- **Key fields**: `block_timestamp`, `transaction_hash`, `user`, `initiator`, `liquidator`

### Component B: Aptos user event extraction

- **Purpose**: Active user addresses are extracted from the Aptos deployment of Aave V3.
- **Logic**: User addresses are extracted from Move events on Aptos. For `Borrow`, `Repay`, `Supply`, and `Withdraw` events, the `user` address is captured. For `FlashLoan` events, the `initiator` address is captured. For `LiquidationCall` events, both the `liquidator` and `user` (liquidated) addresses are captured. These addresses are mapped to Aave V3.
- **Key fields**: `block_timestamp`, `transaction_hash`, `user`, `initiator`, `liquidator`

### Component C: Consolidation and deduplication

- **Purpose**: All extracted user addresses are consolidated and daily distinct active users are calculated.
- **Logic**: All extracted user records from EVM and Aptos deployments are combined into a single dataset. The data is truncated to daily granularity using UTC day boundaries. Distinct user addresses are aggregated per day, chain, user type, and product. Chain availability filters are applied to ensure only active and approved chain data is included in the final output.
- **Key fields**: `block_timestamp`, `chain`, `product_id`, `user_address`

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

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

AaveAAVE

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown