# User Dau Methodology

## 1. Overview

Active users (daily) is defined as the number of unique signer accounts that execute a revenue-generating transaction with Meteora Launchpad. For Meteora Launchpad, active users are identified as unique transaction signers executing trades on either the dynamic bonding curve pools or the graduated liquidity pools that originated from the launchpad. Active users (daily) are measured over a fixed 24-hour window. This metric is utilized to assess user engagement and trading activity within the launchpad ecosystem.

## 2. Data sources

- **Blockchain events**: Trade instructions from the Solana decentralized exchange program, `Migration` instructions from the `DBC` program, and asset balance changes, covering Solana

## 3. Step-by-step calculation

### Component A: Meteora Launchpad pool origin identification

- **Purpose**: Identify pool accounts that belong to Meteora Launchpad.
- **Logic**: `Migration` instructions from the `DBC` program are parsed to identify pool accounts that originated from a dynamic bonding curve graduation. These graduated pools, along with the active virtual bonding curve pools, are mapped to Meteora Launchpad to ensure accurate product attribution.
- **Key fields**: `pool_address`, `virtual_pool`, `block_timestamp`

### Component B: Meteora Launchpad trade extraction and attribution

- **Purpose**: Extract trade transactions and attribute them to Meteora Launchpad.
- **Logic**: Trade instructions executed on Solana are filtered by program accounts. Trades executed directly through the dynamic bonding curve program (account `dbcij3LWUppWqq96dh6gJWwBifmcGfLSB5D4DuSMaqN`) are classified under Meteora Launchpad. Trades executed through the dynamic automated market maker programs (accounts `Eo7WjKq67rjJQSZxS6z3YkapzY3eMj6Xy8X5EQVn5UaB` and `cpamdpZCGKUy5JxQXB4dcpGPiikHawvSWAd6mEn1sGG`) are cross-referenced with the identified graduated pool accounts. If a match is found, the trade is re-attributed to Meteora Launchpad; otherwise, it is attributed to Meteora Liquidity Pools. The transaction signer is extracted from each valid trade.
- **Key fields**: `block_timestamp`, `transaction_signer`, `pool_address`, `executing_account`

### Component C: Wash trading filtration

- **Purpose**: Exclude inorganic trading activity from the active user calculation.
- **Logic**: Turnover is calculated in native units as the ratio of daily quote-leg volume to daily quote-leg reserve for constant-product automated market maker (DAMM V2) pools using trade records and asset balance changes. Pool-days with a turnover ratio exceeding 20 are flagged as wash trading. Trades occurring on these flagged pool-days are excluded from the active user calculation.
- **Key fields**: `pool_address`, `timestamp`, `turnover`

### Component D: Daily active user aggregation

- **Purpose**: Calculate the daily count of unique active users.
- **Logic**: Transaction signers are aggregated by day using the transaction timestamp. Duplicate signers within the same 24-hour UTC window are removed to determine the daily distinct active users for Meteora Launchpad. The final dataset is filtered to ensure only active chains are included.
- **Key fields**: `block_timestamp`, `signer`

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

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

Active users (daily)