Stakers use Liquid Collective to deposit funds into Ethereum’s deposit contract and mint a liquid staking token, LsETH. In return stakers receive staking rewards (supply-side fees).

Liquid Collective is a non-custodial staking protocol launched on Ethereum. Liquid Collective is built and run by a collective of leading web3 teams. The protocol was initially launched in 2023.

Liquid Collective is stewarded by an independent industry consortium, with initial members that include The Liquid Foundation, Alluvial, Kiln, Figment, Coinbase, Coinbase Cloud, Kraken, Staked, and other web3 participants. Liquid Collective will be governed in a decentralized manner by a broad and dispersed community of industry participants.

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Liquid Collective

# Liquid Collective Active users (daily) Methodology

## 1. Overview

Daily Active Users (DAU) for Liquid Collective measures the count of unique user addresses that interact with the Liquid Collective liquid staking protocol on any given day. This metric captures user engagement by counting distinct addresses that either deposit ETH for staking or request redemption of their staked tokens. The calculation aggregates two primary user interaction types: depositors who stake ETH and withdrawers who request to unstake their tokens.

## 2. Data sources

- **Ethereum blockchain events**: Parsed events from Liquid Collective V1 smart contracts deployed on Ethereum
- **Deposit events**: `UserDeposit` events from the `RiverV1` contract capturing ETH staking transactions
- **Redemption events**: `RequestedRedeem` events from the `RedeemManagerV1` contract capturing withdrawal requests
- **Transaction data**: Ethereum transaction records with block timestamps and transaction hashes for temporal analysis

## 3. Step-by-step calculation

### Component A: User interaction extraction
- **Purpose**: Identify all user addresses that interact with the Liquid Collective protocol through staking or unstaking actions
- **Logic**: Extract user addresses from two distinct event types on Ethereum. For deposit events, the user address is captured from the `depositor` parameter in `UserDeposit` events emitted by the `RiverV1` contract. For withdrawal events, the user address is extracted from the `owner` parameter in `RequestedRedeem` events from the `RedeemManagerV1` contract. Each interaction is timestamped using the block timestamp and includes the transaction hash for traceability.
- **Key fields**: `user_address` (standardized as string), `block_timestamp`, `transaction_hash`, `user_type` (classified as either "Depositor" or "Withdrawer"), and static categorization under `market_sector_id` and `business_segment_id` as "liquid_staking"

### Component B: Daily user aggregation  
- **Purpose**: Calculate the count of unique users who were active on each calendar day
- **Logic**: Truncate all block timestamps to daily boundaries using day-level granularity, removing time-of-day information to group all transactions within the same calendar day. Count distinct user addresses for each day, ensuring that users who perform multiple transactions (deposits, withdrawals, or both) on the same day are counted only once in the DAU metric.
- **Key fields**: `timestamp` (truncated to day), `timestamp_grain` (set to "day"), `user_dau` (distinct user address count), and preserved chain and classification metadata

### Final aggregation
- **Combining components**: User interactions from both deposit and withdrawal events are unioned into a single dataset, with user addresses standardized across both event types
- **Time aggregation**: Block timestamps are truncated to daily boundaries, grouping all intraday activity for unique user counting  
- **Final calculation**: For each day, count the distinct number of user addresses that appear in either deposit or withdrawal events, regardless of transaction frequency or volume. Apply chain availability filtering to ensure data quality and exclude periods with incomplete blockchain data coverage.

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

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

Liquid Collective

Active users (daily)

Active users (daily)

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