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

Camelot is a non-custodial exchange protocol built on Arbitrum. Camelot was founded by the pseudonymous Myrddin and launched in 2022.

GRAIL tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Exchanges (DEX)

Camelot

# Camelot Active users (daily) Methodology

## 1. Overview

Daily Active Users (DAU) for Camelot measures the number of unique addresses that executed at least one trade on the Camelot DEX platform within a 24-hour period. This metric provides insight into daily user engagement and trading activity across both Camelot v2 and v3 protocols on Arbitrum. The calculation identifies distinct trader addresses from swap transactions, counting each unique user once per day regardless of their trading volume or frequency.

## 2. Data sources

The DAU calculation relies on the following raw blockchain data sources:
- **Camelot v2 swap events**: Parsed `Pair_Swap` events from Camelot v2 pair contracts on Arbitrum, containing token swap details including amounts in/out for both tokens
- **Camelot v3 swap events**: Parsed `Pool_Swap` events from Camelot v3 pool contracts on Arbitrum, containing direct token amount values for swaps
- **Arbitrum transaction records**: Complete transaction data from Arbitrum blockchain, providing transaction metadata including originator addresses and timestamps

## 3. Step-by-step calculation

### Component A: Trade event extraction
- **Purpose**: Collect all swap transactions from both Camelot v2 and v3 protocols
- **Logic**: Extract swap events from Camelot v2 `Pair_Swap` events and Camelot v3 `Pool_Swap` events on Arbitrum. Join each swap event with its corresponding Arbitrum transaction record to identify the transaction originator. For v2 swaps, calculate net token amounts by subtracting `amount0Out` from `amount0In` and `amount1Out` from `amount1In`. For v3 swaps, use the direct `amount0` and `amount1` values. Combine both protocol versions into a unified dataset with standardized fields including block timestamp, transaction hash, and user address.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for transaction identification, `user_address` from transaction originator, `token0_amount` and `token1_amount` for swap quantities

### Component B: Daily user aggregation
- **Purpose**: Identify unique active users on each calendar day
- **Logic**: Group all trades by calendar day using timestamp truncation to day boundaries. Extract distinct user addresses within each day, ensuring each user is counted only once regardless of how many trades they executed. Classify all users as 'Trader' user type since the metric focuses specifically on trading activity. Include business metadata such as market sector classification as 'exchanges' and business segment as 'dex'.
- **Key fields**: `timestamp` truncated to day level, `user_address` for unique user identification, `user_type` set to 'Trader'

### Final aggregation
- **Combining components**: The daily user aggregation directly processes the unified trade dataset, requiring no additional combination steps
- **Currency conversion**: No currency conversion is needed as this metric counts users rather than monetary values
- **Time aggregation**: Data is aggregated at daily boundaries using timestamp truncation, with each user counted once per calendar day
- **Final calculation**: The final DAU value represents the count of distinct user addresses that executed at least one trade on Camelot (v2 or v3) within each 24-hour period, filtered by chain availability to ensure data quality

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

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

CamelotGRAIL

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown