# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) is defined as the number of unique addresses associated with revenue-generating transactions on Chainflip Lending within a 30-day rolling window. User activity is captured across key protocol interactions, including asset deposits, asset withdrawals, loan creations, and loan repayments. By aggregating unique active addresses monthly, the overall adoption and utility of the lending platform are quantified.

## 2. Data sources

- **Blockchain events**: `LendingFundsAdded`, `LendingFundsRemoved`, `LoanCreated`, and `LoanRepaid` events from `lendingPools` pallets on Chainflip Chain

## 3. Step-by-step calculation

### Component A: Direct lending actions tracking

- **Purpose**: Capture active depositors, withdrawers, and borrowers
- **Logic**: `LendingFundsAdded`, `LendingFundsRemoved`, and `LoanCreated` events are parsed from the `lendingPools` pallet. For `LendingFundsAdded` and `LendingFundsRemoved` events, the user address is extracted from the first parameter of the event data, classifying the users as depositors and withdrawers respectively. For `LoanCreated` events, boost loans are excluded by filtering out events containing a boost configuration, and the borrower address is extracted from the third parameter of the event data.
- **Key fields**: `block_timestamp` (timing), `event_method` (action type), `event_data` (user address extraction)

### Component B: Repayment tracking

- **Purpose**: Capture active repayers
- **Logic**: `LoanRepaid` events are parsed from the `lendingPools` pallet, and liquidation repayments are excluded. Because repayment events do not directly contain the repayer's address, the repayment activity is attributed to the original borrower. This attribution is performed by joining the repayment events with the loan creation records using the unique loan identifier to retrieve the borrower's address.
- **Key fields**: `block_timestamp` (timing), `loan_id` (loan identification), `borrower_address` (user address)

### Component C: Monthly aggregation and deduplication

- **Purpose**: Aggregate and deduplicate active users
- **Logic**: User addresses from direct lending actions and repayments are combined into a single dataset, and null addresses are removed. The block timestamps are truncated to monthly intervals using UTC boundaries. A distinct count of unique user addresses is calculated for each 30-day window to produce the final active users (monthly) metric for Chainflip Lending.
- **Key fields**: `block_timestamp` (timing), `user_address` (user identification)

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

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

Active users (monthly)

Lending

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 Lending

Active users (monthly)

Active users (monthly)

Chain breakdown