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Phantom

# Phantom Active users (daily) Methodology

## 1. Overview

This metric measures the daily count of unique users who actively transact through the Phantom wallet application on Solana. A user is considered "active" when they pay fees to Phantom's fee collection addresses, indicating they performed transactions that required Phantom's services. The metric captures both native SOL fee payments and SPL token fee payments to provide a comprehensive view of wallet usage.

## 2. Data sources

- **Solana native transfers**: Native SOL transfer events on the Solana blockchain, capturing direct payments between addresses
- **Solana SPL token transfers**: SPL token transfer events on Solana, capturing transfers of fungible tokens between token accounts
- **Transaction metadata**: Solana transaction records containing transaction signers and timestamps

## 3. Step-by-step calculation

### Component A: SOL fee collection

- **Purpose**: Identifies users who paid fees in native SOL tokens to Phantom fee collection addresses
- **Logic**: Filters native SOL transfers where the recipient address matches one of eight predefined Phantom fee collection addresses (`25mYnjJ2MXHZH6NvTTdA63JvjgRVcuiaj6MRiEQNs1Dq`, `9yj3zvLS3fDMqi1F8zhkaWfq8TZpZWHe6cz1Sgt7djXf`, `8psNvWTrdNTiVRNzAgsou9kETXNJm2SXZyaKuJraVRtf`, `CnmA6Zb8hLrG33AT4RTzKdGv1vKwRBKQQr8iNckvv8Yg`, `2rQZb9xqQGwoCMDkpabbzDB9wyPTjSPj9WNhJodTaRHm`, `9gnLg6NtVxaASvxtADLFKZ9s8yHft1jXb1Vu6gVKvh1J`, `wtpXRqKLdGc7vpReogsRugv6EFCw4HBHcxm8pFcR84a`, `D1NJy3Qq3RKBG29EDRj28ozbGwnhmM5yBUp8PonSYUnm`). Excludes transfers where the transaction signer is one of these fee accounts to avoid counting internal transfers
- **Key fields**: Block timestamp for daily aggregation, transaction signer as user identifier (`signer`), transfer amount, and hardcoded token address for wrapped SOL (`So11111111111111111111111111111111111111112`)

### Component B: SPL token fee collection

- **Purpose**: Identifies users who paid fees using SPL tokens to Phantom fee collection addresses
- **Logic**: Filters SPL token transfers where the token recipient owner matches one of the same eight Phantom fee collection addresses. Excludes transfers where the transaction signer is one of these fee accounts to avoid counting internal operations
- **Key fields**: Block timestamp for daily aggregation, transaction signer as user identifier (`signer`), token address of the fee payment token, and transfer amount

### Final aggregation

- **Combining components**: SOL fees and SPL token fees are combined using a union operation, creating a unified dataset of all fee-paying transactions
- **Daily boundaries**: Block timestamps are truncated to day boundaries using day-level granularity
- **User identification**: Transaction signers serve as unique user identifiers across both fee types
- **Deduplication**: A final distinct operation is applied across the combined dataset to ensure users who pay fees in multiple currencies on the same day are counted only once
- **Final calculation**: The metric counts distinct transaction signers per day who made fee payments to any of the Phantom fee collection addresses, regardless of whether they paid in SOL or SPL tokens

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

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

Phantom

Active users (daily)

Active users (daily)

Competitive landscape