Lenders deposit funds into Moonwell and receive interest payments from borrowers (supply-side fees).

Moonwell is a non-custodial lending protocol built on multiple blockchains.

WELL tokenholders own and govern the protocol. They currently take a cut of the total interest + liquidation fees paid by borrowers (revenue).

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Lending

Moonwell

# Moonwell Active users (daily) Methodology

## 1. Overview

Moonwell Daily Active Users (DAU) measures the number of unique wallet addresses that interact with Moonwell lending markets on any given day. This metric captures user engagement across all lending activities including deposits, withdrawals, borrows, and loan repayments on Base and Optimism networks. The calculation identifies distinct users who perform at least one lending-related transaction with verified Moonwell market contracts within a 24-hour period.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Blockchain event logs**: Parsed compound fork protocol events from Base and Optimism networks, specifically `Borrow`, `Mint`, `Redeem`, and `RepayBorrow` events from CToken contracts
- **Market configuration data**: Moonwell-specific market contract addresses and their underlying token mappings stored in protocol state data
- **Token metadata**: Reference data containing token symbols, decimal places, and contract addresses for both underlying assets and market tokens
- **Chain availability data**: Configuration data that defines which blockchain networks are actively supported for metric calculations

## 3. Step-by-step calculation

### Component A: User interaction identification
- **Purpose**: Identify all meaningful user interactions with Moonwell lending markets
- **Logic**: Extract compound fork protocol events from Base and Optimism blockchains, focusing on four core lending activities. `Borrow` events capture users taking out loans and are classified as Borrower interactions. `Mint` events represent deposits into lending markets and users are classified as Depositors. `Redeem` events capture withdrawals from lending markets with users classified as Withdrawers. `RepayBorrow` events track loan repayments and users are classified as Repayers. Each event includes the user's wallet address, transaction hash, block timestamp, and the specific contract address involved.
- **Key fields**: `borrower`, `minter`, `redeemer`, and `payer` addresses from respective events, `block_timestamp` for temporal analysis, `transaction_hash` for deduplication, and contract `address` for market validation

### Component B: Market contract validation
- **Purpose**: Ensure only legitimate Moonwell market interactions are included in user counts
- **Logic**: Filter all extracted events to include only interactions with verified Moonwell market contracts. This validation uses a dimension table that maps market contract addresses to their underlying tokens and provides token metadata. The filtering process cross-references each event's contract address against the verified list of Moonwell market contracts, excluding any interactions with non-Moonwell contracts or deprecated markets.
- **Key fields**: `account_address` representing market contract addresses, `token_address` for underlying assets, `chain` for network identification, and `version` for protocol versioning

### Component C: User classification and standardization
- **Purpose**: Standardize user data and classify interaction types for dimensional analysis
- **Logic**: Transform extracted user addresses into a consistent format and assign user type classifications based on the specific event that triggered their inclusion. All interactions are standardized with chain identification, user type assignment, and business segment classification. Each user interaction is tagged with 'lending' as both the market sector and business segment identifier, while product identification remains null for this protocol.
- **Key fields**: `user_address` for unique user identification, `user_type` indicating the nature of interaction, `chain` for network attribution, and `business_segment_id` for categorization

### Final aggregation
- **Combining components**: All validated user interactions across Base and Optimism are combined into a unified dataset, with each user address preserved along with its interaction timestamp and dimensional attributes
- **Time aggregation**: Block timestamps are truncated to daily boundaries using day-level granularity, ensuring all interactions within a 24-hour period are grouped together regardless of the specific time of day
- **Deduplication logic**: Within each day-chain-user type combination, distinct user addresses are identified to prevent double-counting users who perform multiple transactions of the same type on the same day
- **Final calculation**: The daily active user count represents the total number of unique wallet addresses that performed at least one lending interaction with Moonwell markets on each given day, with results partitioned by month for performance optimization and filtered by chain availability to ensure data quality

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

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

MoonwellWELL

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown