# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) is measured as the number of unique trader accounts through which perpetual contract trades are executed on Axiom Perps over a 30-day rolling window. This metric is utilized to evaluate user adoption, engagement, and transaction activity specifically for the Axiom Perps product. Transactions are executed on Hyperliquid, where trades are routed and attributed via a dedicated builder code. Unique trader accounts are identified from on-chain trade execution data to represent active participation.

## 2. Data sources

- **Blockchain events**: `node_fills` events from Hyperliquid, covering the Hyperliquid chain

## 3. Step-by-step calculation

### Component A: Hyperliquid fill extraction for Axiom Perps

- **Purpose**: The extraction of perpetual trading activity routed through Axiom Perps on Hyperliquid
- **Logic**: Trade fill data is parsed from Hyperliquid `node_fills` events. Transactions are filtered to include only those where the builder address is matched to the designated Axiom Trade builder address. Additionally, only transactions occurring on or after the official Axiom Perps launch date are retained. The trader's account address, block timestamp, and transaction details are extracted.
- **Key fields**: `account_address` (trader identifier), `block_timestamp` (transaction time), `builder` (attribution address)

### Component B: Monthly active user aggregation

- **Purpose**: The monthly aggregation of unique traders to calculate active users (monthly)
- **Logic**: The block timestamp of each filtered trade fill is truncated to daily granularity (UTC). Unique trader addresses are aggregated per 30-day window to determine the active users (monthly) for Axiom Perps. The chain is designated as `hypercore` and the user type is classified as `Trader`.
- **Key fields**: `trader_address` (unique user identifier), `block_timestamp` (truncated to day)

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

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

Active users (monthly)

Axiom Perps

Active users (monthly)

Active users (monthly)

Chain breakdown