Pool delegates create a pool and attract funding, from which they receive a portion of the establishment fee and the interest accrued. Liquidity providers add liquidity to the pool and receive a portion of the interest (supply-side fees).

Maple is a non-custodial lending protocol built on Ethereum offering undercollateralized loans for institutional borrowers. Maple was founded by Sid Powell and Joe Flanagan and launched in 2021.

MPL token holders govern and own the protocol. They currently take a cut of the establishment fee (revenue). Maple’s investors include Framework Ventures, One Block Capital, Stani Kulechov etc.

governance

github

twitter

discord

etherscan

website

Lending

Maple Finance

# Maple Finance Average revenue per user (ARPU) Methodology

## 1. Overview

Average revenue per user (ARPU) is utilized to measure the daily revenue generated per active user over a fixed 24-hour window. This metric is calculated by dividing the total daily revenue by the active users (daily). The efficiency with which individual users are monetized on a daily basis is represented by this value across products such as Maple Institutional, Maple Finance syrupUSDC, Maple Finance syrupUSDT, Maple Finance syrupUSDG, and Other Maple pools. This metric is monitored to evaluate the relationship between user growth and protocol revenue generation.

## 2. Data sources

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

## 3. Step-by-step calculation

### Component A: Daily revenue aggregation

- **Purpose**: To aggregate the total daily revenue generated by the protocol.
- **Logic**: Daily revenue is aggregated by summing all revenue values across all chains and products, including Maple Institutional, Maple Finance syrupUSDC, Maple Finance syrupUSDT, Maple Finance syrupUSDG, and Other Maple pools. These values are normalized by decimal precision and converted to USD using end-of-day price feeds.

### Component B: Daily active user aggregation

- **Purpose**: To determine the total number of unique active users on a daily basis.
- **Logic**: active users (daily) are aggregated at the project level to represent the total unique user count across all protocol activities for each day. This is performed by extracting unique user addresses from transactions associated with the protocol.

### Component C: Average revenue per user calculation

- **Purpose**: To calculate the final average revenue generated per active user.
- **Logic**: The total daily revenue is divided by the active users (daily) for each corresponding day. A safe division function is applied to prevent division-by-zero errors on days with no active users. The final values are formatted, and any missing days in the time series are filled with zeros to ensure continuity.

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

Maple FinanceSYRUP

Average revenue per user (ARPU)

Average revenue per user (ARPU)

Competitive landscape