# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) for Fluid Lite is defined as the number of unique wallet addresses that initiate revenue-generating transactions with the protocol's automated yield strategy vaults. This metric is used to measure user engagement and adoption of Fluid Lite across its different versions. Interactions including asset deposits and withdrawals are captured to identify unique participants within a 30-day rolling window.

## 2. Data sources

- **Blockchain events**: `supplyLog` and `withdrawLog` events from `iDAI`, `iETH`, `iWBTC`, and `iUSDC` contracts, and `Deposit` and `Withdraw` events from `iETH` contracts, covering Ethereum

## 3. Step-by-step calculation

### Component A: Fluid Lite V1 interaction tracking

- **Purpose**: Capture user activity within the first version of the Fluid Lite yield protocol
- **Logic**: `supplyLog` and `withdrawLog` events are parsed from `iDAI`, `iETH`, `iWBTC`, and `iUSDC` contracts on Ethereum. Unique user addresses are extracted from the `caller` and `to` parameters within the event logs. These addresses represent the participants interacting with the protocol's liquidity layers.
- **Key fields**: `caller`, `to`, `block_timestamp`

### Component B: Fluid Lite V2 interaction tracking

- **Purpose**: Capture user activity within the second version of the Fluid Lite yield protocol
- **Logic**: `Deposit` and `Withdraw` events are parsed from `iETH` contracts on Ethereum. The `sender` parameter is extracted from these events to identify the wallet address responsible for the transaction.
- **Key fields**: `sender`, `block_timestamp`

### Component C: Monthly deduplication and aggregation

- **Purpose**: Ensure a unique count of participants per 30-day window
- **Logic**: All addresses identified in Component A and Component B are aggregated. A deduplication process is performed to ensure each unique wallet address is counted only once per 30-day window, regardless of the number of transactions performed. The resulting distinct count is categorized under the Fluid Lite product.
- **Key fields**: `user_address`, `block_timestamp`

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

Unique revenue-generating users over a rolling 30-day window.

Active users (monthly)

Lending

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 Lite

Active users (monthly)

Active users (monthly)

Chain breakdown