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Mamo

# Mamo Average revenue per user (ARPU) Methodology

## 1. Overview

Average revenue per user (ARPU) is calculated to measure the daily revenue generated per active user for Mamo. Daily revenue and active users (daily) are utilized as the primary inputs for this metric. Revenue is derived from staking reward distributions and compounding fees on automated strategy rewards, while active users (daily) are identified through deposits, withdrawals, and staking activities. A daily ratio is established to provide a standardized gauge of user monetization efficiency.

## 2. Data sources

- **Revenue**: Derived from the Revenue metric, covering Base
- **Active users (daily)**: Derived from the Active users (daily) metric, covering Base

## 3. Step-by-step calculation

### Component A: Revenue aggregation

- **Purpose**: Calculates the daily USD-denominated revenue generated by the protocol.
- **Logic**: Daily revenue is aggregated from two primary sources. First, staker rewards are captured from `RewardsNotified` events emitted by `RewardsDistributorSafeModule` contracts, which distribute MAMO and cbBTC assets to stakers. Second, compounding fees are captured from `RewardsClaimed` events emitted by `MoonwellMorphoStrategy` contracts (Mamo V2 only), where a compound fee rate is applied to claimed WELL and MORPHO assets. All raw asset amounts are normalized by decimal precision and converted to USD using end-of-day price feeds before being summed daily.
- **Key fields**: `token1_amount`, `token2_amount`, `reward_amount`, `compound_fee`, `price_usd`

### Component B: Daily active user aggregation

- **Purpose**: Identifies the daily count of unique active users interacting with the protocol.
- **Logic**: Active users (daily) are identified by aggregating unique addresses across three distinct interaction types. Depositors and withdrawers are extracted from `Deposit` and `Withdraw` events emitted by `ERC20MoonwellMorphoStrategy` (Mamo V1) and `MoonwellMorphoStrategy` (Mamo V2) contracts. Stakers and unstakers are identified by tracking ERC-20 `Transfer` events of the MAMO asset to and from the Mamo staking contract. The active users (daily) metric is calculated by taking the distinct count of these unique user addresses within each UTC calendar day.
- **Key fields**: `user_address`, `from_address`, `to_address`, `block_timestamp`

### Component C: Average revenue per user calculation

- **Purpose**: Computes the final average revenue generated per active user.
- **Logic**: The total daily USD revenue calculated in Component A is divided by the active users (daily) calculated in Component B. If no active users or revenue are recorded for a given day, the metric is zero-filled. This calculation is performed daily to reflect the average monetization rate per active user over a 24-hour window.
- **Key fields**: `revenue`, `user_dau`, `arpu`

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

MamoMAMO

Average revenue per user (ARPU)

Average revenue per user (ARPU)

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