Liquidity providers supply Algebra concentrated-liquidity positions (or Steer-managed Smart Pools); traders swap against them. NEST governance is locked for veNEST to direct emissions and earn protocol revenue.

An Algebra-fork concentrated-liquidity DEX. Holds the deepest kHYPE and wstHYPE liquidity on HyperEVM, used as a price source for those HYPE liquid-staking tokens.

Nest Exchange is a ve(3,3) MetaDEX on HyperEVM, providing concentrated-liquidity and Smart Pool trading for the Hyperliquid ecosystem.

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Nest Exchange

# Active addresses (weekly) Methodology

## Overview

Active addresses (weekly) measures the number of unique addresses that make a transaction with a project, i.e. An application or a blockchain. Weekly active addresses are measured on a 7-day rolling basis.

## Data sources

- On-chain transaction records (sender addresses, receiver addresses, and timestamps)
- Program instructions and transaction metadata
- Asset metadata for chain and project identification

## Common calculation approaches

### Transaction sender identification
Sender addresses are extracted from transaction records across blockchains including Ethereum, BNB Chain, and Polygon. Unique initiators are identified from sender address fields and aggregated over a rolling 7-day period to measure network activity.

### Signer and instruction tracking
On Solana, active accounts are identified by extracting unique signers from program instructions. Data is aggregated from both successful and failed transactions to provide a comprehensive view of account activity and network demand.

### Delegated action handling
For networks with specific account abstraction features, such as NEAR Protocol, transaction initiators are identified by distinguishing between standard actions and delegate actions. For meta transactions on NEAR Protocol, the receiver account is identified as the active user to accurately represent user engagement.

**Note:** The calculation approaches and protocol examples above are representative patterns. Individual protocol implementations may vary.

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

Unique active addresses over a rolling 7-day window.

Nest ExchangeNEST

Active addresses (weekly)

Active addresses (weekly)

Competitive landscape