Liquidity providers deposit funds into Pika Protocol and receive trading fees from traders (supply-side fees).

Pika Protocol is a non-custodial exchange for perpetual contracts built on Optimism. Pika Protocol was founded by an anonymous team and was launched in 2021.

PIKA tokenholders own and govern the protocol. Pika Protocol has no private investors.

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Pika Protocol

# Pika Protocol Active users (daily) Methodology

## 1. Overview

The Pika Protocol Daily Active Users (DAU) metric measures the number of unique user addresses that execute trading activity on any given day across the Pika Protocol platform. This metric captures active engagement by counting distinct addresses that open or close perpetual positions, providing insight into daily trading participation on this derivatives platform built on Optimism.

## 2. Data sources

This metric relies on the following raw data sources:
- **Optimism blockchain event logs**: Parsed smart contract events from PikaPerp contracts across versions 2, 3, and 4
- **Trading events**: Specifically `NewPosition` and `ClosePosition` events that capture when users open or close perpetual positions
- **Transaction metadata**: Optimism block timestamps and transaction hashes for temporal alignment
- **Contract addresses**: Multiple versions of the PikaPerp smart contract deployed on Optimism

## 3. Step-by-step calculation

### Component A: User activity identification
- **Purpose**: Identify all user trading interactions across Pika Protocol contract versions
- **Logic**: Extract user addresses from parsed `NewPosition` and `ClosePosition` events emitted by PikaPerp smart contracts. The system monitors three contract versions (v2, v3, v4) deployed on Optimism to capture the complete user activity history. Each event contains the user's wallet address in the `user` parameter, which identifies the trader executing the position change. All identified users are classified as "Trader" type and categorized under the derivatives market sector with perpetual business segment classification.
- **Key fields**: `user` address from event parameters, `block_timestamp` for timing, `transaction_hash` for deduplication, contract version metadata

### Component B: Daily aggregation and deduplication
- **Purpose**: Calculate unique daily active users by removing duplicate addresses within each day
- **Logic**: Group all trading events by day using timestamp truncation to convert block-level timestamps to daily boundaries. For each day, count distinct user addresses that appear in either `NewPosition` or `ClosePosition` events across all monitored contract versions. A user who executes multiple trades within the same day is counted only once for that day's DAU calculation.
- **Key fields**: Truncated `timestamp` at day granularity, distinct `user_address` count, `chain` identifier, `user_type` classification

### Final aggregation
- **Combining components**: User activity data from all PikaPerp contract versions is combined through union operations before daily aggregation to ensure complete coverage of trading activity
- **Time aggregation**: Daily boundaries are established using timestamp truncation, with each user counted at most once per day regardless of trading frequency
- **Chain filtering**: Chain availability filters are applied to ensure data quality and exclude any invalid or incomplete chain data
- **Final calculation**: The final DAU value for each day represents the count of unique wallet addresses that executed at least one position opening or closing transaction on Pika Protocol during that 24-hour period

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

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

Pika ProtocolPIKA

Active users (daily)

Active users (daily)

Competitive landscape