# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) measures the number of unique addresses that execute revenue-generating transactions with Etherex Concentrated Liquidity. This metric tracks the monthly scale of user engagement by identifying participants who perform swaps or utilize flash loan services. Active users (monthly) is measured over a 30-day rolling window.

## 2. Data sources

- **Blockchain events**: `Swap` and `Flash` events from `Pool` contracts, covering Linea

## 3. Step-by-step calculation

### Component A: Swap activity identification

- **Purpose**: Captures unique traders interacting with Concentrated Liquidity pools.
- **Logic**: `Swap` events are parsed from `Pool` contracts. To identify the specific participant, the transaction hash for each event is joined with the native transaction table. The transaction signer address is extracted and designated as the active user for that event.
- **Key fields**: `block_timestamp` (timing), `user_address` (signer identification).

### Component B: Flash loan activity identification

- **Purpose**: Captures unique users utilizing flash loan functionality provided by the protocol.
- **Logic**: `Flash` events are parsed from `Pool` contracts. Similar to swap identification, the transaction hash for each event is joined with the native transaction table to retrieve the transaction signer address. This address is included in the set of active users for the period.
- **Key fields**: `block_timestamp` (timing), `user_address` (signer identification).

### Component C: Deduplication and monthly aggregation

- **Purpose**: Ensures each participant is counted only once per 30-day window regardless of transaction volume or type.
- **Logic**: User addresses identified from both swap and flash loan activities are combined into a single dataset. A distinct count is applied to the union of these addresses, grouped by 30-day window and chain. This process removes duplicate entries for users who performed multiple transactions or engaged with both products on the same 30-day window. Detail regarding cross-product aggregation for the project as a whole is maintained within the project-level methodology.

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

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

Active users (monthly)

Concentrated Liquidity

Archived

Active users (monthly)

Active users (monthly)