Liquidity providers deposit funds into Holdstation DeFutures and receive trading fees from traders (supply-side fees).

Holdstation DeFutures is a non-custodial perpetual exchange protocol built on zkSync Era. Holdstation DeFutures was founded by Hoai Nam and Trung Banh, and launched in 2023.

HOLD tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Holdstation's investors include ViaBTC Capital, Kryber, K300 Ventures, etc.

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Holdstation

# Holdstation Active users (daily) Methodology

## 1. Overview

Daily Active Users (DAU) for Holdstation measures the number of unique wallet addresses that executed trades on the Holdstation DeFutures protocol each day. This metric captures user engagement and trading activity on Holdstation's derivatives platform by counting distinct traders who completed limit or market orders. The calculation aggregates unique trader addresses from smart contract events emitted during trade execution on zkSync Era.

## 2. Data sources

- **Blockchain events**: Parsed zkSync Era smart contract events from Holdstation's HSTradingCallbacks contract
- **Trading events**: `LimitExecuted` events capturing completed limit order transactions
- **Trading events**: `MarketExecuted` events capturing completed market order transactions  
- **Transaction metadata**: Block timestamps and transaction hashes from zkSync Era blockchain
- **User data**: Trader wallet addresses extracted from event parameters

## 3. Step-by-step calculation

### Component A: User identification from trading events
- **Purpose**: Extract unique trader addresses from Holdstation DeFutures trading activity
- **Logic**: Parse `LimitExecuted` and `MarketExecuted` events from the HSTradingCallbacks smart contract on zkSync Era. These events are emitted each time a trader successfully executes a limit order or market order on the Holdstation DeFutures platform. Extract the `trader` parameter from each event, which contains the wallet address of the trader who executed the order. Include transaction metadata such as `block_timestamp` and `transaction_hash` for each trading event.
- **Key fields**: `trader` address from event parameters becomes `user_address`, `block_timestamp` for timing, `transaction_hash` for transaction identification

### Component B: User classification and standardization  
- **Purpose**: Standardize user data with consistent product and market classifications
- **Logic**: Classify all identified traders with standardized metadata. Assign `user_type` as 'Trader' for all users since they represent active traders on the platform. Set `market_sector_id` as 'derivatives' to indicate the derivatives trading market sector. Set `business_segment_id` as 'perpetual' to specify the perpetual futures segment. Set `product_id` as 'holdstationdefuturesv1' to identify the specific Holdstation DeFutures v1 product. Add `chain` identifier as 'zksyncera' to specify the blockchain network.
- **Key fields**: `user_type`, `market_sector_id`, `business_segment_id`, `product_id`, `chain`

### Component C: Daily aggregation and deduplication
- **Purpose**: Calculate daily distinct active users by aggregating unique addresses per day
- **Logic**: Truncate `block_timestamp` to day granularity using timestamp truncation to establish daily boundaries. Group all trading events by the truncated daily timestamp. Within each day, identify distinct `user_address` values to count unique active traders. Set `timestamp_grain` as 'day' to indicate daily aggregation level. This ensures that traders who execute multiple trades within the same day are only counted once in the DAU calculation.
- **Key fields**: `timestamp` truncated to day, `user_dau` representing distinct user addresses per day

### Final aggregation
- **Combining components**: The user identification, classification, and daily aggregation components are processed sequentially to build the complete user activity dataset
- **Data quality**: Apply chain availability filtering to ensure data completeness and quality across the zkSync Era blockchain network
- **Time aggregation**: Daily boundaries are established by truncating block timestamps to day precision, ensuring consistent 24-hour periods
- **Final calculation**: The metric represents the count of distinct wallet addresses that executed at least one trade (limit or market order) on Holdstation DeFutures for each calendar day

*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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Active users (daily)

Active users (daily)

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