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# Etherex Active users (daily) Methodology

## 1. Overview

The Etherex daily active users (DAU) metric measures the number of unique addresses that interact with the Etherex protocol on any given day. This metric captures users who either execute trades or take flash loans on the Etherex decentralized exchange, providing insight into daily protocol engagement. All active users are classified as "Trader" type, reflecting the protocol's focus on trading activities.

## 2. Data sources

The calculation relies on several types of blockchain data from the Linea network:

- **Smart contract event logs**: Parsed `Pool_Flash_event` logs from Etherex v3 contracts and `Pair_Swap_event` logs from Etherex v2 contracts, plus `Pool_Swap_event` logs from Etherex v3 contracts
- **Transaction records**: Linea blockchain transaction data containing sender addresses and transaction metadata
- **Protocol versions**: Data from both Etherex v2 and v3 protocol deployments on Linea chain
- **Event metadata**: Block timestamps, transaction hashes, log indices, and contract addresses for activity tracking

## 3. Step-by-step calculation

### Component A: Flash loan user identification
- **Purpose**: Identifies users who executed flash loans through Etherex v3 pools
- **Logic**: Processes parsed `Pool_Flash_event` logs from Etherex v3 contracts deployed on Linea blockchain. Extracts the sender address from each flash loan event along with token amounts and transaction metadata. Joins event data with Linea transaction records to resolve the actual user address from the `from_address` field of the originating transaction. Creates unique order identifiers by concatenating formatted block numbers and log indices
- **Key fields**: `sender` (contract caller), `amount0` and `amount1` (flash loan amounts), `block_timestamp` (event timing), and resolved `user_address` from transaction data

### Component B: Trading user identification  
- **Purpose**: Identifies users who executed swaps through Etherex v2 and v3 pools
- **Logic**: Processes swap events from both protocol versions on Linea. For Etherex v2, parses `Pair_Swap_event` logs and calculates net token movements by subtracting output amounts from input amounts for both tokens in the pair. For Etherex v3, processes `Pool_Swap_event` logs using direct amount values without additional calculation. Joins all swap events with Linea transaction records to resolve actual user addresses from the transaction `from_address` field
- **Key fields**: For v2: `amount0In`, `amount0Out`, `amount1In`, `amount1Out` (used to calculate net flows); For v3: `amount0` and `amount1` (direct swap amounts); `sender` (contract caller) and resolved `user_address`

### Final aggregation
- **Combining components**: Flash loan users and trading users are combined using UNION DISTINCT operation to eliminate duplicate addresses that may have performed both activities on the same day. All users are categorized uniformly as 'Trader' type regardless of their specific activity
- **Time aggregation**: Block timestamps are truncated to daily boundaries using day-level time truncation, ensuring all activities within a 24-hour period are grouped together
- **User counting**: Each unique user address per day represents one daily active user. The final count is the distinct number of user addresses that appeared in either flash loan or trading activities for each calendar day
- **Chain and product tracking**: Results maintain chain identification (Linea) and product identification (Constant Product or Concentrated Liquidity) for proper attribution and filtering

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

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

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