Liquidity providers deposit funds into Beethoven X and receive trading fees from traders (supply-side fees). In addition, Beethoven X provides liquidity providers with additional yield using boosted pools.

Beethoven X is a non-custodial exchange protocol built on Fantom and Optimism. It was founded by an anonymous team and launched in 2021.

BEETS tokenholders own and govern the protocol. They currently take a cut of the total trading and yield fees (revenue). Beethoven X shares 50% of the Optimism revenues with Balancer (Beethoven X is an official friendly fork of Balancer).

github

twitter

discord

etherscan

website

Exchanges (DEX)

Beets

# Beets Active users (daily) Methodology

## 1. Overview

The Beethoven X Daily Active Users (DAU) metric measures the number of unique addresses that interact with Beethoven X protocols on a daily basis. This metric captures user engagement by counting distinct users who perform either trading activities or flash loan operations on the platform. The calculation combines trading activity and flash loan usage to provide a comprehensive view of daily protocol engagement across Fantom and Optimism chains.

## 2. Data sources

The calculation relies on several raw blockchain data sources:
- **Beethoven X smart contract event logs**: Parsed `Vault_Swap_event` and `Vault_FlashLoan_event` logs from Beethoven X contracts deployed on Fantom and Optimism networks
- **Transaction records**: Fantom and Optimism blockchain transaction data used to identify the initiating user addresses for each activity
- **Multi-chain coverage**: Fantom (native Beethoven X v1 deployment) and Optimism (Balancer V2 co-managed deployment)

Note: The Optimism deployment is co-managed between Beethoven X and Balancer, so Optimism data is sourced through Balancer V2 contract events.

## 3. Step-by-step calculation

### Component A: Trading user identification
- **Purpose**: Identify users who perform token swaps on Beethoven X
- **Logic**: Extract `Vault_Swap_event` logs from Beethoven X smart contracts on both Fantom and Optimism chains. Join these events with blockchain transaction records to identify the user address (`from_address`) who initiated each swap transaction. Filter out pool management activities by excluding swaps where either `tokenIn` or `tokenOut` matches the pool address, ensuring only genuine trading activity is captured
- **Key fields**: `user_address` (from transaction `from_address`), `block_timestamp` for daily aggregation, `tokenIn` and `tokenOut` addresses, swap amounts, and chain information

### Component B: Flash loan user identification  
- **Purpose**: Identify users who utilize flash loan functionality
- **Logic**: Extract `Vault_FlashLoan_event` logs from the same Beethoven X smart contracts across both supported chains. Join with transaction records to identify the user address who initiated each flash loan. These represent a distinct category of users who interact with the protocol through flash loan mechanisms rather than traditional swaps
- **Key fields**: `user_address` (from transaction `from_address`), `block_timestamp` for daily aggregation, flash loan token addresses, amounts, and fee information

### Final aggregation
- **Combining components**: Union all trading users and flash loan users into a single dataset, categorizing them as 'Trader' and 'Flashloan Trader' user types respectively. This ensures users who perform both activities on the same day are counted appropriately for each activity type
- **Time aggregation**: Truncate all `block_timestamp` values to daily boundaries using day-level truncation, creating consistent daily time buckets for user counting
- **User counting**: Count distinct `user_address` values per day per chain, ensuring each unique address is counted only once per day regardless of how many transactions they performed
- **Chain handling**: Apply chain availability filters to ensure data quality and only include chains where Beethoven X is actively deployed and monitored
- **Final calculation**: The final DAU value represents the total count of unique user addresses that performed any qualifying activity (trading or flash loans) on Beethoven X protocols during each calendar day

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

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

BeetsBEETS

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown