# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) measures the number of unique addresses that perform revenue-generating transactions with Fluid Vault. This metric reflects the monthly scale of user engagement with the core liquidity and Fluid Vault infrastructure of the protocol. Active users (monthly) are measured over a 30-day rolling window.

## 2. Data sources

- **Blockchain events**: `LogOperate` events from `FluidLiquidity` and `FluidLiquidityProxy` contracts, covering Ethereum, Arbitrum, Base, Polygon, and Plasma

## 3. Step-by-step calculation

### Component A: Fluid Vault interaction identification

- **Purpose**: Identify all business-relevant interactions within the Fluid Vault infrastructure.
- **Logic**: `LogOperate` events are parsed from `FluidLiquidity` and `FluidLiquidityProxy` contracts across supported networks. These events represent the primary operational functions of the Fluid Vault, including the management and movement of liquidity. Interactions originating from BNB Chain are filtered out of this component, as that activity is attributed to Venus Flux.
- **Key fields**: `transaction_hash`, `chain_id`, `block_timestamp`

### Component B: User address extraction

- **Purpose**: Attribute Fluid Vault activity to the specific unique addresses responsible for the transactions.
- **Logic**: Transaction hashes captured from Fluid Vault events are joined with native blockchain transaction records. The `from_address` field is extracted from the transaction data to identify the unique signer of the transaction, which is defined as the active user.
- **Key fields**: `transaction_hash`, `from_address`

### Component C: Deduplication and monthly aggregation

- **Purpose**: Calculate the total number of unique monthly participants for the product.
- **Logic**: Extracted user addresses are deduplicated to ensure each address is counted only once per 30-day window per chain. The unique addresses are aggregated into monthly totals based on the transaction timestamp, using a 30-day rolling window for consistency across all supported chains.
- **Key fields**: `user_address`, `block_timestamp`, `chain_id`

*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 Vault

Active users (monthly)

Active users (monthly)

Chain breakdown