EthenaENA

Daily Active Users (DAU) for Ethena measures the number of unique wallet addresses that interact with Ethena's stablecoin ecosystem on any given day. This metric captures user engagement across Ethena's two main stablecoin products: Ethena USDe (through the Minter contract) and USDtb (through direct token interactions). Users are classified as either Depositors (those minting/receiving tokens) or Withdrawers (those redeeming/sending tokens). The metric provides insights into daily user adoption and activity levels within Ethena's decentralized stablecoin protocol.Learn more