Liquidity providers deposit funds into Mummy Finance and receive trading fees from traders (supply-side fees).

Mummy Finance is a non-custodial exchange for spot and perpetual contracts built on Fantom, Optimism, and Arbitrum. Mummy Finance was founded by an anonymous team and was launched in December 2022.

MMY tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Mummy Finance

# Mummy Finance Average revenue per user (ARPU) Methodology

## 1. Overview

ARPU (Average Revenue Per User) measures the average daily revenue generated per active user on the Mummy Finance protocol. This metric answers the business question: "How much revenue does each active user generate on average per day?" The calculation divides daily protocol revenue by the number of daily active users, providing insight into user monetization efficiency and protocol economics.

## 2. Data sources

- **Perpetual trading fee events**: Parsed `CollectMarginFees` events from Mummy Finance Vault contracts capturing margin trading fees across Arbitrum, Fantom, and Optimism networks
- **Spot trading fee events**: Parsed `CollectSwapFees` events from Mummy Finance Vault contracts capturing spot trading fees across Arbitrum, Fantom, and Optimism networks  
- **User activity events**: Parsed `IncreasePosition`, `DecreasePosition`, and `Swap` events from Mummy Finance Vault contracts identifying active traders across all supported chains
- **Additional vault events**: Parsed events from Vault2 contracts on Fantom network for extended functionality
- **Token metadata**: Token symbol, decimal, and identification data for proper fee amount processing
- **End-of-day price feeds**: Daily token price data for USD conversion of fee amounts
- **Protocol configuration**: Revenue percentage allocation settings (40% revenue share since December 2022)

## 3. Step-by-step calculation

### Component A: Daily active users tracking
- **Purpose**: Identifies and counts unique users who performed trading activities each day
- **Logic**: Extracts user addresses from trading-related blockchain events including position increases, position decreases, and swaps across Mummy Finance Vault contracts on Arbitrum, Fantom, and Optimism. Uses HyperLogLog sketches to efficiently count distinct users per day, aggregating data at the project level to avoid double-counting users who trade on multiple chains
- **Key fields**: `user_address` from event logs, `block_timestamp` for daily aggregation boundaries, `chain` for multi-chain support

### Component B: Fee collection and processing  
- **Purpose**: Aggregates all trading fees collected by the protocol from both perpetual and spot trading activities
- **Logic**: Combines margin trading fees from `CollectMarginFees` events and spot trading fees from `CollectSwapFees` events. Processes fee amounts by correcting token decimals using metadata, then converts amounts to USD using end-of-day price feeds. Aggregates all fees by day across all supported chains and vault contracts
- **Key fields**: `feeTokens` amounts from events, `token` addresses for price lookups, `block_timestamp` for daily boundaries

### Component C: Revenue calculation
- **Purpose**: Determines the protocol's revenue share from total fees collected
- **Logic**: Applies the revenue percentage configuration to total daily fees. Since December 2022, Mummy Finance retains 40% of all collected fees as protocol revenue, with the remaining 60% going to supply-side participants. Multiplies total daily fees by the 0.4 revenue percentage factor
- **Key fields**: Total daily `fees` amounts, `revenue_percentage` factor (0.4), daily `timestamp` boundaries

### Final aggregation  
- **Combining components**: Joins daily revenue totals with daily active user counts using the daily timestamp as the common key
- **Currency conversion**: All revenue amounts are converted to USD using end-of-day token price feeds and properly adjusted for token decimal places
- **Time aggregation**: Data is aggregated at daily boundaries using timestamp truncation to day level
- **Final calculation**: Divides total daily revenue (in USD) by the count of daily active users to produce the average revenue per user for each day

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

Mummy Finance

Average revenue per user (ARPU)

Average revenue per user (ARPU)

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