# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) is defined as the number of unique addresses that execute revenue-generating transactions on the Slipstream product of Aerodrome. User engagement and protocol adoption are evaluated through this metric by identifying the monthly volume of unique transacting addresses over a 30-day rolling window. Transactional activity within concentrated liquidity pools is captured to assess the growth and health of the Slipstream ecosystem.

## 2. Data sources

- **Blockchain events**: `Swap` events from `CLPool` contracts and transaction sender details from transaction records, covering Base and Arc

## 3. Step-by-step calculation

### Component A: Slipstream trade extraction

- **Purpose**: Extract trade transactions executed on Slipstream concentrated liquidity pools
- **Logic**: `Swap` events from `CLPool` contracts are parsed to identify trade activity. These events are joined with transaction records on the Base chain using the transaction hash to map each swap to the originating transaction signer address. The transaction initiator address is extracted as the primary user address, and the product is classified as Slipstream.
- **Key fields**: `block_timestamp` (timing), `transaction_hash` (transaction identifier), `from_address` (user address)

### Component B: Monthly active user aggregation

- **Purpose**: Aggregate unique transacting addresses on a monthly basis
- **Logic**: Transaction timestamps are analyzed over a 30-day rolling window. For each 30-day window, the distinct user addresses associated with Slipstream trades are aggregated. The monthly count of unique active users categorized as traders is calculated.
- **Key fields**: `block_timestamp` (timing), `user_address` (user identification)

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

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

Active users (monthly)

Exchanges (DEX)

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).

Slipstream

Active users (monthly)

Active users (monthly)

Chain breakdown