Liquidity providers (LPs) deposit funds into Convex Finance and receive a return on investment (supply-side fees).

Convex Finance is an asset management and staking protocol built on Ethereum. Convex Finance launched in May 2021.

CVX tokenholders own and govern the protocol. They currently take a cut of the total yield generated (revenue).

governance

github

twitter

discord

etherscan

website

Asset management

Convex Finance

# Convex Finance Active users (daily) Methodology

## 1. Overview

Daily Active Users (DAU) for Convex Finance measures the number of unique wallet addresses that interact with Convex Finance's deposit functionality on any given day. This metric specifically tracks users who deposit tokens into Convex Finance's yield aggregation protocols, providing insight into daily user engagement with their asset management services. The calculation identifies unique depositors by analyzing token transfer events sent to Convex Finance's main deposit contract.

## 2. Data sources

- **Ethereum token transfer events**: Parsed ERC-20 `Transfer` events from the Ethereum blockchain, specifically focusing on transfers where tokens are sent to Convex Finance's deposit contract
- **Blockchain transaction data**: Ethereum transaction records containing block timestamps, transaction hashes, and log indices for proper event identification and temporal ordering
- **Contract metadata**: Convex Finance's deposit account contract address (`0x989aeb4d175e16225e39e87d0d97a3360524ad80`) used to filter relevant deposit transactions

## 3. Step-by-step calculation

### Component A: User identification through deposits
- **Purpose**: Identifies active users by capturing token deposits made to Convex Finance's main deposit contract
- **Logic**: Filters Ethereum token transfer events to include only those where the `to_address` matches Convex Finance's deposit account contract address. Each transfer event represents a user depositing tokens into Convex Finance protocols. The `from_address` field identifies the depositing user, while `block_timestamp` provides the timing of the activity. All identified users are classified as 'Depositor' type under the 'asset_management' market sector and 'yield_aggregator' business segment
- **Key fields**: `from_address` (the depositing user), `to_address` (filtered to Convex Finance deposit contract), `block_timestamp` (for temporal analysis), `transaction_hash` and `log_index` (for unique event identification)

### Final aggregation
- **Time aggregation**: Block timestamps are truncated to daily boundaries using day-level granularity, ensuring all activity within a 24-hour period is grouped together
- **User deduplication**: Within each day, user addresses are deduplicated using distinct selection, so each unique wallet address is counted only once per day regardless of how many deposit transactions they made
- **Chain filtering**: Chain availability filters are applied to ensure data quality and exclude periods where blockchain data might be incomplete or unreliable
- **Final calculation**: The result is a daily count of unique user addresses that deposited tokens into Convex Finance protocols, providing a measure of daily user engagement with their yield aggregation services

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

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

Convex FinanceCVX

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown