# Active users (daily) Methodology

## 1. Overview

Active users (daily) measures the number of unique accounts that execute revenue-generating transactions within Orca Token Swap V2. This metric serves as an indicator of protocol adoption and user retention by quantifying the distinct entities performing asset swaps. Active users (daily) are measured over a fixed 24-hour window using UTC day boundaries.

## 2. Data sources

- **Blockchain events**: DEX trade instructions from the Orca Token Swap V2 program (`9W959DqEETiGZocYWCQPaJ6sBmUzgfxXfqGeTEdp3aQP`), covering Solana

## 3. Step-by-step calculation

### Component A: Trade instruction identification

- **Purpose**: Isolate transactions specifically interacting with Orca Token Swap V2
- **Logic**: DEX trade instructions are parsed from the Solana ledger. Transactions are filtered to include only those where the executing account or outer executing account matches the specific Orca Token Swap V2 program ID (`9W959DqEETiGZocYWCQPaJ6sBmUzgfxXfqGeTEdp3aQP`). This ensures that activity from other protocol versions, such as Whirlpools, is excluded from this specific product calculation.
- **Key fields**: `executing_account`, `outer_executing_account`, `block_timestamp`

### Component B: Signer identification and deduplication

- **Purpose**: Identify and count unique protocol participants
- **Logic**: The transaction signer account is extracted from each valid trade instruction. These signers are categorized as the "Trader" user type. Within each 24-hour period, unique signers are aggregated to ensure each account is counted only once per day, regardless of the number of transactions performed.
- **Key fields**: `transaction_signer` (mapped as `signer`), `block_timestamp`

### Component C: Data validation and aggregation

- **Purpose**: Finalize daily counts and apply data quality filters
- **Logic**: Daily counts are aggregated based on UTC timestamps. Data is passed through a freshness filter to ensure values are only displayed for dates where blockchain data ingestion is confirmed as complete.
- **Key fields**: `block_timestamp`, `chain` (Solana), `product_id` (Orca Token Swap V2)

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

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

Active users (daily)

Exchanges (DEX)

Users are able to use the Orca protocol to transact with digital assets on a peer-to-peer or peer-to-protocol basis by trading against liquidity  pools, which are created and seeded by other users providing liquidity of a pair of tokens into such liquidity pools in exchange for a stake of the liquidity and trading fees generated by such pools.

Orca is a non-custodial automated market maker (AMM) protocol built on Solana. Orca was founded by Yutaro Mori and Grace Kwan and launched in 2021.

ORCA tokenholders govern the Orca protocol treasury, which receives a portion of the trading fees paid by users of the protocol.