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BullX

# BullX Active users (daily) Methodology

## 1. Overview

The BullX Daily Active Users (DAU) metric measures the number of unique users who interact with the BullX trading platform each day. This metric identifies active users by tracking fee payments made to BullX's fee collection addresses on Solana. The metric answers the business question: "How many distinct traders use BullX daily?" The calculation approach captures user activity through the lens of fee-generating transactions, providing a direct measure of platform engagement.

## 2. Data sources

The calculation relies on the following raw data sources:

- **Solana native transfers**: Native SOL transfer events on the Solana blockchain, specifically transfers sent to BullX fee collection addresses
- **BullX fee collection addresses**: Two specific Solana addresses that collect fees from BullX platform users (`F4hJ3Ee3c5UuaorKAMfELBjYCjiiLH75haZTKqTywRP3` and `9RYJ3qr5eU5xAooqVcbmdeusjcViL5Nkiq7Gske3tiKq`)
- **Transaction metadata**: Solana transaction details including block timestamps, transaction IDs, and signer addresses

## 3. Step-by-step calculation

### Component A: Fee transaction identification
- **Purpose**: Identify all transactions where users pay fees to BullX platform
- **Logic**: Filter Solana native SOL transfers to capture only those sent to BullX's two designated fee collection addresses. Exclude transactions where the signer is one of the fee collection addresses themselves to avoid counting internal BullX operations as user activity. Each qualifying transaction represents a user interaction with the BullX platform.
- **Key fields**: `block_timestamp` for timing, `transaction_signer` for user identification, `to_address` for fee recipient validation, `amount` for fee value, `transaction_id` for transaction uniqueness

### Component B: Daily user aggregation  
- **Purpose**: Calculate the count of unique active users per day
- **Logic**: Group fee transactions by day using timestamp truncation to daily boundaries. Within each day, count distinct transaction signers to identify unique users. Classify all users as 'Trader' type since fee payments indicate trading activity on the BullX platform.
- **Key fields**: `timestamp` truncated to day level, `signer` as unique user identifier, `user_type` standardized as 'Trader'

### Final aggregation
- **Combining components**: The fee transactions are directly aggregated by day and distinct signer count
- **Currency conversion**: No currency conversion needed as the metric counts users, not monetary values
- **Time aggregation**: Daily boundaries are established by truncating block timestamps to day precision using `timestamp_trunc`
- **Final calculation**: The final DAU value equals the count of distinct `signer` addresses per day who made fee payments to BullX fee collection addresses, providing a daily snapshot of unique platform users

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

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

BullX

Active users (daily)

Active users (daily)

Competitive landscape