# Active users (daily) Methodology

## 1. Overview

Active users (daily) measures the number of unique addresses that execute a revenue-generating trade on the Fluid DEX Lite protocol. Each unique address is identified as a trader interacting with the decentralized exchange infrastructure within a 24-hour window. This metric provides a gauge of user adoption and transactional activity specifically for Fluid DEX Lite.

## 2. Data sources

- **Blockchain events**: `LogSwap` events from `FluidFluid Fluid DEX Fluid Lite` contracts, covering Ethereum
- **External data**: Asset metadata for liquidity pool identification

## 3. Step-by-step calculation

### Component A: Swap event extraction

- **Purpose**: Identify trading activity occurring on Fluid DEX Lite
- **Logic**: `LogSwap` events are parsed from `FluidFluid Fluid DEX Fluid Lite` contracts. Encoded data within the swap logs is decoded to extract trade parameters, including the specific liquidity pool identifier and adjusted trade amounts.
- **Key fields**: `in_swapData` (encoded trade details), `address` (pool contract)

### Component B: User identification

- **Purpose**: Attribute swap activity to specific user addresses
- **Logic**: Trade events are joined with native blockchain transaction data using the transaction hash. The `from` address of the transaction, representing the transaction signer, is identified as the unique user address responsible for the trade.
- **Key fields**: `transaction_hash` (join key), `from_address` (user identification)

### Component C: Daily aggregation and deduplication

- **Purpose**: Calculate the total number of unique daily participants
- **Logic**: User addresses are filtered specifically for the Fluid DEX Lite product identifier. Addresses are deduplicated to ensure each unique entity is counted only once per day. The final count is aggregated over 24-hour UTC intervals.
- **Key fields**: `block_timestamp` (timing), `user_address` (unique identifier)

*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)

Fluid acts as a lending, vault, and DEX platform for seamless DeFi interaction.

Fluid is a non-custodial lending, vaults, and DEX protocol built by Instadapp. Instadapp was founded by Samyak Jain & Sowmay Jain and launched in 2018.

FLUID tokenholders own and govern the protocol. They currently earn a cut of the fees generated through Fluid lending, vault and DEX services. Instadapp's investors include Coinbase Ventures, Pantera Capital, Robot Ventures, etc.

Fluid DEX Lite

Active users (daily)

Active users (daily)

Chain breakdown