Liquidity providers deposit funds into Dopex and receive premiums from options traders (supply-side fees).

Dopex is a non-custodial exchange for options contracts built on Arbitrum. Dopex was founded by the pseudonymous TzTok-Chad, and was launched in 2021.

DPX tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Dopex’s investors include Tetranode, DefiGod, Orca Traders, Pattern Research, etc.

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Dopex

# Dopex Active users (daily) Methodology

## 1. Overview

The Dopex Daily Active Users (DAU) metric measures the number of unique wallet addresses that interact with Dopex protocol options trading functionality each day. This metric captures trader activity across both Dopex SSOV v1 and CLAMM v2 protocol versions, providing insight into daily user engagement with the decentralized options platform. The calculation aggregates unique user addresses from option purchase and minting events, truncated to daily boundaries.

## 2. Data sources

The methodology relies on the following raw data sources:
- **Arbitrum blockchain event logs**: Parsed smart contract events from Dopex protocol contracts deployed on Arbitrum
- **SSOV v1 events**: `Purchase` events from Single Staking Option Vault v1 contracts for multiple tokens (ARB, DPX, RDPX, ETH, stETH) covering both weekly and monthly options
- **CLAMM v2 events**: `LogMintOption` events from Dopex CLAMM v2 option market contracts for ARB, WETH, and WBTC
- **Contract metadata**: Information about Dopex protocol versions and contract classifications

## 3. Step-by-step calculation

### Component A: User activity extraction
- **Purpose**: Identify all user addresses that interact with Dopex options trading across both protocol versions
- **Logic**: Extract user activity from multiple Dopex contract events on Arbitrum. For SSOV v1 contracts, capture `Purchase` events from token-specific option vaults (ArbMonthlyCallsSsovV3, DpxMonthlyCallsSsovV3, DpxWeeklyCallsSsovV3, DpxWeeklyPutsSsovV3, RdpxMonthlyCallsSsovV3, RdpxWeeklyCallsSsovV3, RdpxWeeklyPutsSsovV3, EthWeeklyPutsSsovV3, StEthMonthlyCallsSsovV3, StEthWeeklyCallsSsovV3). For CLAMM v2 contracts, capture `LogMintOption` events from option market contracts (ArbDopexV2OptionMarket, WethDopexV2OptionMarket, WbtcDopexV2OptionMarket)
- **Key fields**: Extract `block_timestamp`, `transaction_hash`, user address (from `sender` parameter in SSOV v1 events or `user` parameter in CLAMM v2 events), and contract information

### Component B: User classification and standardization
- **Purpose**: Standardize user data across different contract versions and classify users by protocol interaction type
- **Logic**: Map different event parameter names to a unified `user_address` field, handling the variation between `sender` in SSOV v1 events and `user` in CLAMM v2 events. Classify all users as 'Trader' type since they are actively purchasing or minting options. Categorize activity within the 'derivatives' market sector and 'option' business segment. Distinguish between product versions by mapping SSOV v1 contracts to 'Dopex SSOV v1' and CLAMM v2 contracts to 'Dopex CLAMM v2'
- **Key fields**: Standardized `user_address`, `user_type` set to 'Trader', `market_sector_id` set to 'derivatives', `business_segment_id` set to 'option', `product_id` based on contract version

### Component C: Daily aggregation
- **Purpose**: Calculate daily unique active users by aggregating user addresses within daily time boundaries
- **Logic**: Truncate `block_timestamp` to day-level granularity to establish daily boundaries. Group data by the truncated timestamp and other dimensional fields (chain, user_type, market_sector_id, business_segment_id, product_id). Count distinct user addresses within each daily period to determine the number of unique active users per day
- **Key fields**: `timestamp` truncated to day level, `timestamp_grain` set to 'day', `user_dau` containing the unique user address

### Final aggregation
- **Combining components**: Union all user activity records from both SSOV v1 and CLAMM v2 protocol versions, ensuring no duplication of users across different contract interactions within the same day
- **Time aggregation**: Daily boundaries are established using timestamp truncation to day level, capturing all activity within 24-hour periods
- **Data quality**: Apply chain availability filtering to ensure only valid Arbitrum chain data is included in the final metric
- **Final calculation**: The metric represents the count of distinct wallet addresses that performed option-related transactions (purchases or mints) on Dopex protocol within each daily period

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

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

DopexDPX

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown