Liquidity providers deposit funds into Aperture and receive trading fees from traders (supply-side fees).

Aperture is a non-custodial DeFi exchange protocol built on Manta Pacific (originally a fork of Uniswap). Aperture was founded by Gao Han, Lian Zhu, and Peiqian Li in 2021.

Aperture team & investors own and govern the protocol. They do not currently take a cut of the total trading fees paid by traders (revenue). Aperture's investors include ParaFi Capital, Arrington XRP Capital, Costanoa Ventures and Divergence Ventures.

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Aperture

# Aperture Active users (daily) Methodology

## 1. Overview

The daily active users (DAU) metric for Aperture measures the number of unique users who interact with the Aperture protocol on a daily basis. This metric captures user engagement by counting distinct addresses that perform either flash loan operations or trading activities within each calendar day. The metric classifies users into two types based on their activity: flash loan takers and traders, providing visibility into different user behaviors on the platform.

## 2. Data sources

The DAU calculation relies on the following blockchain data sources:
- **Flash loan events**: Parsed `Pool_Flash_event` logs from Aperture v1 protocol smart contracts on Manta blockchain
- **Trading events**: Parsed `Pool_Swap_event` logs from Aperture v1 protocol smart contracts on Manta blockchain  
- **Transaction records**: Manta blockchain transaction data containing user addresses and transaction metadata
- **Protocol metadata**: Aperture protocol version information and business classification data

## 3. Step-by-step calculation

### Component A: Flash loan user identification
- **Purpose**: Identifies users who executed flash loan operations on Aperture protocol
- **Logic**: Extracts `Pool_Flash_event` logs from Aperture v1 smart contracts deployed on Manta blockchain. Each flash loan event contains transaction details including `sender` (the contract address) and token amounts (`amount0`, `amount1`). To identify the actual user, the system joins these events with Manta transaction records using the `transaction_hash`, then extracts the `from_address` field from the transaction as the true user address. Users are classified as 'Flash loan taker' type.
- **Key fields**: `block_timestamp` for timing, `user_address` from transaction `from_address`, `transaction_hash` for joining data sources, and token amounts for activity validation

### Component B: Trading user identification  
- **Purpose**: Identifies users who executed swap/trading operations on Aperture protocol
- **Logic**: Extracts `Pool_Swap_event` logs from Aperture v1 smart contracts on Manta blockchain. Similar to flash loans, each swap event contains the contract `sender` and token amounts for both sides of the swap (`amount0`, `amount1`). The system joins these events with Manta transaction records using `transaction_hash` and extracts the `from_address` as the actual user who initiated the trade. Users are classified as 'Trader' type.
- **Key fields**: `block_timestamp` for timing, `user_address` from transaction `from_address`, `transaction_hash` for data joining, and token amounts for trade validation

### Final aggregation
- **Combining components**: The two user datasets are combined using a union distinct operation to avoid double-counting users who performed both flash loans and trades on the same day. Each user address is preserved with their specific activity type classification.
- **Time aggregation**: All timestamps are truncated to daily boundaries using day-level granularity, ensuring users are counted once per day regardless of how many transactions they perform within that day.
- **Deduplication**: The union distinct operation ensures that if a user performs multiple activities of the same type on a single day, they are only counted once for that activity type. However, users who perform both flash loans and trades on the same day will appear twice in the dataset with different user type classifications.
- **Final calculation**: The metric counts distinct `user_address` values per day, segmented by user type ('Flash loan taker' or 'Trader'), chain, and other business metadata dimensions. The daily boundary is determined by truncating `block_timestamp` to day level, creating discrete daily periods for user activity measurement.

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

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

Aperture

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown