# Active users (daily) Methodology

## 1. Overview

Active users (daily) is measured as the number of unique addresses associated with transaction execution or application interaction on Chainflip Chain. Within this metric, transaction senders on the base ledger, traders on Chainflip DEX, and depositors, withdrawers, borrowers, and repayers on Chainflip Lending are included. Active users (daily) are aggregated over a fixed 24-hour window to reflect the daily utility and adoption of the ecosystem.

## 2. Data sources

- **Blockchain events**: Extrinsics and events including `SwapRequested` events from `swapping` contracts, and `LendingFundsAdded`, `LendingFundsRemoved`, `LoanCreated`, and `LoanRepaid` events from `lendingPools` contracts, covering Chainflip Chain

## 3. Step-by-step calculation

### Component A: Chainflip Chain transaction senders

- **Purpose**: Capture unique addresses associated with transaction initiation directly on the Chainflip Chain ledger.
- **Logic**: Extrinsics are parsed from the Chainflip Chain ledger. Unique transaction signers are extracted where the signer address is not null. These addresses are classified under the user type "Transaction sender" for the base blockchain product.
- **Key fields**: `block_timestamp`, `signer` (user address), `extrinsic_id`

### Component B: Chainflip DEX traders

- **Purpose**: Capture unique addresses associated with swap execution on Chainflip DEX.
- **Logic**: `SwapRequested` events from `swapping` contracts are parsed. Only events occurring after the runtime upgrade on September 24, 2024, are included. Refund addresses and output addresses are extracted from the event data payload using JSON queries. A regular expression is applied to the extracted addresses to isolate valid hex or Chainflip-native address formats. These addresses are classified under the user type "Trader" for the decentralized exchange product.
- **Key fields**: `block_timestamp`, `event_data` (containing refund and output addresses)

### Component C: Chainflip Lending users

- **Purpose**: Capture unique addresses associated with interactions on Chainflip Lending.
- **Logic**: `LendingFundsAdded`, `LendingFundsRemoved`, and `LoanCreated` events from `lendingPools` contracts are parsed to identify depositors, withdrawers, and borrowers. Events are filtered to exclude boosted loans. For non-liquidation `LoanRepaid` events, the corresponding borrower address is retrieved from historical loan creation records to identify repayers. These addresses are classified under their respective user types for the lending product.
- **Key fields**: `block_timestamp`, `event_method`, `event_data` (containing user and loan details)

### Component D: Aggregation and deduplication

- **Purpose**: Consolidation and deduplication of active addresses to calculate active users (daily).
- **Logic**: Active addresses from the base ledger, decentralized exchange, and lending products are combined. The addresses are truncated to daily UTC boundaries. A distinct count of unique addresses is calculated per day, chain, product, and user type. Chain availability filters are applied to align the data with approved operational windows.
- **Key fields**: `block_timestamp`, `user_address`, `product_id`, `user_type`

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

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

Active users (daily)

Blockchains (L1)

Chainflip operates a decentralized network of 150 validators that collectively control multi-chain vaults using threshold signature schemes (TSS). The protocol uses a Just-In-Time (JIT) AMM where liquidity providers compete to fill swap orders at the moment of execution, enabling capital-efficient cross-chain swaps. A portion of each swap fee is used to buy and burn FLIP tokens.

Chainflip is a decentralized cross-chain swap protocol that enables native asset exchanges across blockchains including Bitcoin, Ethereum, and Solana without wrapped tokens or traditional bridges. It was launched in 2023 by Chainflip Labs and uses a JIT AMM model combined with MPC-based vault technology to provide competitive pricing on cross-chain trades.

Chainflip is governed by its validator set and FLIP tokenholders. Validators stake FLIP to participate in the network and earn fees from swaps. The protocol is developed and maintained by Chainflip Labs.

Chainflip Chain

Active users (daily)

Active users (daily)

Chain breakdown