# Active users (daily) Methodology

## 1. Overview

Active users (daily) measures the number of unique addresses that execute revenue-generating transactions on EulerSwap. This metric represents the daily volume of unique participants utilizing EulerSwap's decentralized exchange infrastructure. Interactions are identified as swap transactions executed directly through EulerSwap contracts or via integrated Uniswap V4 pools.

## 2. Data sources

- **Blockchain events**: `Swap` events from `EulerSwap` contracts and Uniswap V4 trade data, covering Ethereum, Arbitrum, Base, Avalanche, BSC, and 3 other chains
- **External data**: Asset metadata for identifying and filtering relevant liquidity pools

## 3. Step-by-step calculation

### Component A: EulerSwap native swap extraction

- **Purpose**: Identify unique users performing swaps directly through EulerSwap contracts.
- **Logic**: `Swap` events are parsed from `EulerSwap` contracts across all supported chains. These events are joined with blockchain transaction data using the transaction hash to identify the transaction signer as the `user_address`.
- **Key fields**: `transaction_hash`, `block_timestamp`, `chain`

### Component B: Uniswap V4 integration tracking

- **Purpose**: Capture user activity for EulerSwap liquidity routed through Uniswap V4.
- **Logic**: Trade data from Uniswap V4 is filtered to isolate transactions interacting with pools deployed via the `EulerSwapFactory`. The transaction signers for these trades are extracted from the underlying blockchain transactions and identified as active users of the EulerSwap product.
- **Key fields**: `transaction_hash`, `maker` (pool address), `user_address`

### Component C: Final aggregation and deduplication

- **Purpose**: Consolidate user data and calculate the distinct daily count.
- **Logic**: Addresses from native swap events and Uniswap V4 integrations are combined into a single dataset. A distinct count of unique addresses is performed for each day, utilizing UTC boundaries. The resulting values are aggregated by chain and product to determine the final daily active user count.
- **Key fields**: `user_address`, `block_timestamp`, `chain`

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

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

Active users (daily)

Exchanges (DEX)

Lenders deposit funds into Euler and receive interest payments from borrowers (supply-side fees).

Euler is a non-custodial lending protocol built on Ethereum. Euler was founded by Michael Bentley, Doug Hoyte & Jack Prior and launched in 2021.

EUL tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue). Euler’s investors include Paradigm, Lemniscap, Launchhub Ventures, etc.

EulerSwap

Active users (daily)

Active users (daily)

Chain breakdown