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

APX Finance is a non-custodial exchange for perpetual contracts built on BNB Chain, Arbitrum, and Base.

APX tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). APX's investors include Binance Labs, Kronos Research, etc.

github

twitter

etherscan

website

Derivative exchanges

APX V2

# APX V2 Active users (daily) Methodology

## 1. Overview

ApolloX Daily Active Users (DAU) measures the number of unique users who interact with ApolloX's decentralized derivatives platform each day. The metric counts distinct wallet addresses that execute trading activities across ApolloX's perpetual futures and prediction betting ("Dumb Mode") products on Arbitrum, Base, and BSC networks. This metric helps assess daily user engagement and platform adoption across ApolloX's multi-chain ecosystem.

## 2. Data sources

The calculation relies on parsed smart contract events from ApolloX's decentralized derivatives platform across three blockchains:

- **Arbitrum ApolloX events**: Parsed contract events including `OpenMarketTrade`, `CloseTradeSuccessful`, `ExecuteCloseSuccessful` from perpetual trading contracts, and `PredictAndBet` events from prediction betting contracts
- **Base ApolloX events**: Parsed contract events including `OpenMarketTrade`, `CloseTradeSuccessful`, and `ExecuteCloseSuccessful` from perpetual trading contracts
- **BSC ApolloX events**: Parsed contract events from both ApolloX2 and ApolloX3 contract versions, including `OpenMarketTrade`, `CloseTradeSuccessful`, `ExecuteCloseSuccessful` trading events, and `PredictAndBet` prediction betting events

Each event contains user address information, block timestamps, and transaction metadata necessary for identifying unique daily users across different trading activities.

## 3. Step-by-step calculation

### Component A: User activity extraction
- **Purpose**: Extract and classify all user trading activities from ApolloX smart contracts across supported chains
- **Logic**: The system processes parsed blockchain events from ApolloX smart contracts on Arbitrum, Base, and BSC. For each chain, it identifies specific contract events that represent user interactions: standard perpetual trading events (`OpenMarketTrade`, `CloseTradeSuccessful`, `ExecuteCloseSuccessful`) and prediction betting events (`PredictAndBet`). Each event is classified with a user type: users executing standard trading events are labeled as 'Perpetual trader', while users participating in prediction betting are labeled as 'Dumb Mode trader'. The system extracts the `user` parameter from each event, which contains the wallet address of the active user, along with block timestamp and transaction hash for temporal analysis.
- **Key fields**: `user_address` from event parameters, `block_timestamp` for temporal analysis, `chain` identifier, `user_type` classification, and transaction metadata

### Component B: Daily aggregation and deduplication
- **Purpose**: Convert user activities to daily active user counts by removing duplicate users within each day
- **Logic**: The system truncates block timestamps to daily boundaries using day-level granularity, grouping all activities that occurred on the same calendar day regardless of specific time. For each day, it identifies distinct user addresses who performed any trading activity, ensuring that users who executed multiple trades or different types of activities on the same day are counted only once. The aggregation maintains chain-level separation and user type classification while calculating the daily unique user count.
- **Key fields**: `timestamp` truncated to daily granularity, distinct `user_dau` addresses per day, `chain` for multi-chain tracking

### Final aggregation
- **Combining components**: The system combines all user activities across different chains and trading types, then applies distinct counting at the daily level to ensure each unique user address is counted only once per day per chain
- **Currency conversion**: No currency conversion is required as this is a user count metric
- **Time aggregation**: Block timestamps are truncated to daily boundaries, with all activities occurring within a 24-hour period (00:00:00 to 23:59:59 UTC) grouped into the same day
- **Final calculation**: The final DAU value represents the count of distinct wallet addresses that executed at least one trading activity (perpetual trading or prediction betting) on ApolloX contracts during each calendar day, tracked separately by blockchain network

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

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

APX V2APX

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown