Liquidity providers deposit funds into Aerodrome and stake their LP tokens to receive AERO tokens in proportion to their share of the votes (token incentives).

Aerodrome is a non-custodial exchange protocol built on Base. Aerodrome was launched by the Velodrome team in 2023.

AERO tokenholders own and govern the protocol. They vote which pools they wish to earn trading fees from (revenue), while the pools' unstaked liquidity providers earn the remainder of the trading fees (supply-side fees).

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Aerodrome

# Aerodrome Active users (daily) Methodology

## 1. Overview

Active users (daily) is measured as the number of unique addresses that make a revenue-generating transaction with a project over a fixed 24-hour window. This metric is utilized to evaluate user engagement and transaction activity across the V1, V2, and Slipstream products of Aerodrome. By aggregating unique transacting addresses daily, the overall adoption and utility of the decentralized exchange are assessed.

## 2. Data sources

- **Blockchain events**: `Swap` events from `Pool` and `CLPool` contracts, and transaction data covering Base and Arc

## 3. Step-by-step calculation

### Component A: V1, V2, and Slipstream trade event extraction

- **Purpose**: Extract swap transactions from Aerodrome pools to identify active traders
- **Logic**: `Swap` events are parsed from `Pool` contracts (for V1 and V2) and `CLPool` contracts (for Slipstream). These events are joined with native transaction records on the transaction hash to identify the transaction initiator. The transaction initiator address is designated as the active user.
- **Key fields**: `block_timestamp` (timing), `transaction_hash` (transaction identifier), `from_address` (user address)

### Component B: Daily distinct aggregation

- **Purpose**: Calculate the daily count of unique active users
- **Logic**: Transaction timestamps are truncated to daily granularity using UTC boundaries. For each day, the unique set of user addresses is aggregated across all products (V1, V2, and Slipstream) to determine the daily active user count.
- **Key fields**: `timestamp` (daily truncated time), `user_address` (unique user identifier)

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

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

AerodromeAERO

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown