Built as an AMM on Stellar, Phoenix uses liquidity pools where users deposit asset pairs to facilitate decentralized trading. The protocol automatically determines exchange rates based on pool ratios, and liquidity providers earn trading fees proportional to their share of the pool.

The protocol provides token swapping, liquidity pools for asset pairs, and yield farming opportunities. It enables users to trade Stellar assets, provide liquidity to earn fees, and participate in DeFi activities leveraging Stellar's fast transaction speeds and low fees.

Phoenix DeFi Hub is a decentralized finance protocol built on the Stellar blockchain, operating as an automated market maker (AMM) and decentralized exchange serving the Stellar ecosystem.

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Exchanges (DEX)

Phoenix DeFi Hub

# 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.

Phoenix DeFi Hub

Active addresses (weekly)

Active addresses (weekly)

Competitive landscape