# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) is measured as the number of unique accounts that execute revenue-generating instructions within Marinade Liquid Staking. These interactions are captured to reflect user engagement with Marinade Liquid Staking staking activities such as SOL deposits, stake account deposits, and various unstaking or claiming operations. The metric is utilized to evaluate the growth and retention of the participant base over 30-day rolling windows.

## 2. Data sources

- **Blockchain events**: `Deposit`, `DepositStakeAccount`, `WithdrawStakeAccount`, `Claim`, `OrderUnstake`, and `LiquidUnstake` instructions from `Finance` programs, covering Solana

## 3. Step-by-step calculation

### Component A: Marinade Liquid Staking instruction parsing

- **Purpose**: Active accounts participating in Marinade Liquid Staking staking operations are identified.
- **Logic**: Instruction data is retrieved from `Finance` programs on Solana. The `transaction_signer` is extracted for specific instruction types related to capital entry and exit, including `Deposit`, `DepositStakeAccount`, `WithdrawStakeAccount`, `Claim`, `OrderUnstake`, and `LiquidUnstake`. These accounts are categorized by interaction type, such as depositor or withdrawer, to maintain the context of the activity.
- **Key fields**: `transaction_signer` (account identification), `block_timestamp` (timing)

### Component B: Monthly aggregation

- **Purpose**: The total number of unique active accounts is calculated per 30-day window.
- **Logic**: Unique accounts are deduplicated and aggregated with a monthly granularity. Distinct counts are calculated across all relevant instruction types to produce the final monthly value. Data is filtered according to chain-specific freshness and archival timestamps to ensure accuracy. Final results represent the count of distinct accounts that initiated at least one relevant instruction within a 30-day rolling window.

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

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

Active users (monthly)

Liquid staking

Stakers deposit funds into Marinade and receive a return on investment in the form of staking rewards (supply-side fees).

Marinade is a non-custodial staking protocol built on Solana. Marinade was co-founded by Lucio Tato and launched in 2021.

MNDE tokenholders own and govern the protocol. They currently take a cut of the total staking rewards earned by the protocol (revenue).