On Cryptex v1, overcollateralized investors deposit funds into Cryptex and mint TCAP tokens. On Cryptex v2, traders trade leveraged perpetual contracts against liquidity pools supplied by liquidity providers.

Cryptex v1 is non-custodial asset management protocol built on Ethereum, while Cryptex v2 is an exchange for perpetual contracts on Arbitrum. Cryptex was founded by Joe Sticco, Preston Van Loon & Thomas Matzner and launched in 2021.

CTX token holders own and govern the protocol. They currently take all of the total withdrawal fees paid by investors and trading fees paid by traders (revenue).

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Cryptex

# Cryptex Active users (daily) Methodology

## 1. Overview

Daily Active Users (DAU) for Cryptex measures the number of unique user addresses that interact with Cryptex's TCAP token system each day. This metric captures users who either mint new TCAP tokens or burn existing ones through various vault handler contracts. The calculation identifies distinct users per day based on their participation in core protocol activities, providing insight into daily engagement with Cryptex's total crypto market cap token ecosystem.

## 2. Data sources

The methodology uses the following raw data sources:
- **Ethereum blockchain event logs**: Parsed smart contract events from Cryptex's vault handler contracts
- **Token minting events**: `TokensMinted` events from various vault handlers including AAVE, LINK, DAI, ETH, USDC, and WBTC vault handlers
- **Token burning events**: `TokensBurned` events from the same vault handler contracts and their different versions
- **Smart contract metadata**: Transaction hashes, block timestamps, and log indices from Ethereum event logs
- **Vault handler contracts**: Events from both original and V2 versions of DAI and ETH vault handlers

## 3. Step-by-step calculation

### Component A: User interaction extraction
- **Purpose**: Identifies all user interactions with Cryptex vault handlers through token minting and burning events
- **Logic**: Extracts events from multiple Cryptex vault handler smart contracts on Ethereum. Each vault handler (AAVE, LINK, DAI, ETH, USDC, WBTC) emits `TokensMinted` and `TokensBurned` events when users interact with the protocol. The system captures the `owner` parameter from these events, which represents the user address performing the action. Both original and V2 versions of certain vault handlers (DAI and ETH) are included to capture the complete history of user interactions
- **Key fields**: `block_timestamp` for timing, `transaction_hash` and `log_index` for event identification, `owner` address as the user identifier, event type for classification

### Component B: User classification and standardization
- **Purpose**: Classifies users by interaction type and applies business metadata
- **Logic**: Users are classified into two types based on their actions: 'TCAP Minter' for users who mint new tokens and 'TCAP Burner' for users who burn existing tokens. The system applies standardized business classifications including 'asset_management' as the market sector and 'yield_aggregator' as the business segment. Each interaction is tagged with the Ethereum chain identifier and includes transaction-level metadata for traceability
- **Key fields**: `user_type` for minter/burner classification, `market_sector_id` and `business_segment_id` for business categorization, `chain` for blockchain identification

### Final aggregation
- **Combining components**: All user interaction data from different vault handlers is combined into a single dataset using union operations
- **Time aggregation**: Block timestamps are truncated to day boundaries using day-level time truncation, creating daily time buckets for user activity measurement
- **User deduplication**: Within each day, the system counts distinct user addresses to eliminate multiple interactions by the same user, ensuring each active user is counted only once per day regardless of how many transactions they performed
- **Final calculation**: The final DAU metric represents the count of unique user addresses that performed at least one minting or burning action on any given day, preserved with dimensional attributes including chain, user type, and business classifications
- **Chain filtering**: Results are filtered based on chain availability to ensure data quality and completeness

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

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

CryptexCTX

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown