# Active users (weekly) Methodology

## 1. Overview

Active users (weekly) measures the number of unique addresses that make a revenue-generating transaction with Ether.fi Cash. This metric specifically captures user engagement with the platform's credit and spending infrastructure, including borrowing assets, repaying debt, and executing payments. It provides an indicator of the weekly utility and adoption of the Cash product for decentralized finance-enabled spending.

## 2. Data sources

- **Blockchain events**: `Borrowed` and `Repaid` events from `CashDebitCore`, `UserSafeEventEmitter`, and `DebtManagerCore` contracts, and `Spend` events from `DebtManager` and `CashEventEmitter` contracts, covering Scroll and Optimism

## 3. Step-by-step calculation

### Component A: Borrowing activity tracking

- **Purpose**: Identify unique users initiating debt positions.
- **Logic**: `Borrowed` events are parsed from `CashDebitCore`, `UserSafeEventEmitter`, and `DebtManagerCore` contracts. Unique user addresses are extracted from these events to identify active borrowers within the 7-day rolling window.
- **Key fields**: `user_address` (identifier), `block_timestamp` (timing)

### Component B: Debt repayment tracking

- **Purpose**: Identify unique users settling outstanding balances.
- **Logic**: `Repaid` events are parsed from `CashDebitCore`, `UserSafeEventEmitter`, and `DebtManagerCore` contracts. The addresses of users settling debt are captured and filtered to ensure only unique interactions are counted.
- **Key fields**: `user_address` (identifier), `block_timestamp` (timing)

### Component C: Spending activity tracking

- **Purpose**: Identify unique users utilizing the platform for asset spending.
- **Logic**: `Spend` events are parsed from `DebtManager` and `CashEventEmitter` contracts across multiple versions. For multi-token transactions, token arrays are unnested to ensure all spending activity is correctly attributed to the originating user address.
- **Key fields**: `user_address` (identifier), `block_timestamp` (timing)

### Weekly aggregation

- **Purpose**: Consolidate interactions into a single weekly active user count.
- **Logic**: User addresses identified from borrowing, repayment, and spending activities are combined into a single dataset. Distinct addresses are counted per 7-day window to calculate active users (weekly). Weekly granularity is maintained using 7-day rolling windows.

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

Unique revenue-generating users over a rolling 7-day window.

Active users (weekly)

Lending

Stakers deposit funds into Ether.fi and receive a return on investment in the form of staking rewards (supply-side fees).

Ether.fi is a non-custodial staking protocol built on Ethereum and other blockchains. Ether.fi was founded by Mike Silagadze and launched in 2023.

Ether.fi team & investors own and govern the protocol. They currently take a cut of the total staking rewards earned by the protocol (revenue). Ether.fi’s investors include North Island Ventures, Chapter One, Node Capital, and Arthur Hayes.

Cash

Active users (weekly)

Active users (weekly)

Chain breakdown