Risk accessors providers deposit funds into Nexus Mutual and receive insurance premiums from policyholders (currently as token incentives).

Nexus Mutual is a non-custodial insurance protocol built on Ethereum. Nexus Mutual was founded by Hugh Karp and launched in 2017.

NXM tokenholders own and govern the protocol. They currently take all of the total insurance premiums paid by policyholders (revenue). Nexus Mutual's investors include KR1, Kenetic, Version One Ventures, etc.

governance

github

twitter

discord

etherscan

website

Insurance

Nexus Mutual

# Nexus Mutual Active users (daily) Methodology

## 1. Overview

Nexus Mutual daily active users (DAU) measures the number of unique user addresses that interact with Nexus Mutual's insurance protocol each day. This metric specifically tracks users who purchase or modify insurance covers through the protocol, providing insight into daily engagement with the decentralized insurance platform. The calculation counts distinct user addresses per day based on their interactions with cover-related smart contract events.

## 2. Data sources

The DAU calculation relies on the following raw data sources:
- **Ethereum blockchain events**: Parsed `CoverEdited` events from the Nexus Mutual v1 Cover smart contract on Ethereum
- **Transaction metadata**: Ethereum transaction data including block timestamps, transaction hashes, and log indices for event identification and temporal ordering
- **Smart contract logs**: Ethereum event logs containing user addresses and interaction details from Nexus Mutual protocol contracts

## 3. Step-by-step calculation

### Component A: User event extraction
- **Purpose**: Identifies all user interactions with Nexus Mutual covers from blockchain events
- **Logic**: Extracts data from Ethereum `CoverEdited` events emitted by the Nexus Mutual Cover contract. Each event represents a user purchasing or modifying an insurance cover. The `buyer` parameter from these events identifies the user address performing the action. Events are classified with static metadata including chain as 'ethereum', user type as 'Cover buyer', market sector as 'insurances', and business segment as 'insurance'. All interactions are associated with their block timestamp, transaction hash, and log index for unique identification.
- **Key fields**: `buyer` address from events becomes `user_address`, `block_timestamp` for temporal analysis, `transaction_hash` and `log_index` for event uniqueness

### Component B: Daily aggregation
- **Purpose**: Aggregates user interactions to daily granularity and counts distinct active users
- **Logic**: Truncates block timestamps to daily boundaries using day-level granularity, removing hour, minute, and second components. Groups all events by the truncated date and applies distinct counting to user addresses, ensuring each unique user is counted only once per day regardless of how many cover interactions they performed. Preserves metadata fields including chain, user type, and business categorization.
- **Key fields**: `timestamp` truncated to day level, `user_address` for distinct counting, metadata fields for categorization

### Final aggregation
- **Combining components**: The daily user data flows directly from event extraction to daily aggregation without additional joins, as all necessary information is contained within the event data
- **Currency conversion**: No currency conversion required as this metric counts users rather than monetary values
- **Time aggregation**: Daily boundaries are established by truncating block timestamps to day-level granularity, with each day representing a 24-hour period from 00:00:00 to 23:59:59 UTC
- **Final calculation**: The final DAU value represents the count of distinct user addresses that performed at least one cover-related action (purchase or modification) on Nexus Mutual during each daily period, with chain availability filtering applied to ensure data quality and completeness

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

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

Nexus MutualNXM

Archived

Active users (daily)

Active users (daily)

Competitive landscape