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Photon

# Photon Active users (daily) Methodology

## 1. Overview

Daily Active Users (DAU) for Photon measures the number of unique traders who pay fees to the protocol each day. This is an activity-based metric that identifies users through their fee-paying transactions rather than simple wallet interactions. The calculation captures users who are actively trading on the Photon protocol by monitoring native SOL transfers to the protocol's fee collection infrastructure.

## 2. Data sources

- **Solana native transfers**: SOL transfer events on the Solana blockchain, specifically transfers directed to Photon's fee collection addresses
- **Transaction data**: Solana transaction records containing signer information and block timestamps
- **Blockchain timestamps**: Block timestamps from Solana for temporal aggregation

## 3. Step-by-step calculation

### Component A: Fee transaction identification
- **Purpose**: Identifies all fee-paying transactions on the Photon protocol
- **Logic**: Filters Solana native SOL transfers to capture only those directed to the Photon fee collection address `AVUCZyuT35YSuj4RH7fwiyPu82Djn2Hfg7y2ND2XcnZH`. Each transfer represents a user paying fees for trading activity on the protocol. The system extracts the transaction signer as the user identifier, along with the block timestamp and transfer amount.
- **Key fields**: `transaction_signer` (user identifier), `block_timestamp` (transaction timing), `amount` (fee amount), `transaction_id` (unique transaction reference)

### Component B: Daily user aggregation
- **Purpose**: Counts unique active users per day based on fee-paying activity
- **Logic**: Truncates block timestamps to daily granularity using day-level time boundaries. Groups transactions by the truncated timestamp and counts distinct transaction signers within each day. Users who make multiple fee-paying transactions on the same day are counted only once per day.
- **Key fields**: `timestamp` (truncated to day), `signer` (deduplicated user identifier), `user_type` (classified as 'Trader')

### Final aggregation
- **Combining components**: The fee transaction data flows directly into the daily aggregation without additional joins, as all necessary information is contained within the fee events
- **Currency conversion**: Not applicable - this metric counts users, not monetary values
- **Time aggregation**: Daily boundaries are established by truncating block timestamps to day-level granularity, ensuring consistent 24-hour periods
- **Final calculation**: The final DAU value represents the distinct count of transaction signers who paid fees to the Photon protocol within each calendar day, providing a measure of active trading participants

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

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

Photon

Active users (daily)

Active users (daily)

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