Overcollateralized borrowers deposit funds into Prisma Finance and receive mkUSD stablecoin.

Prisma Finance is a non-custodial stablecoin protocol built on Ethereum. Prisma Finance was founded by an anonymous team and launched in the fall of 2023.

PRISMA tokenholders own & govern the protocol. They currently take all of the total fees paid by borrowers (revenue). Prisma Finance’s investors include Michael Egorov, OKX Ventures, and Frax Finance.

governance

github

twitter

discord

etherscan

website

Stablecoin issuers

Prisma Finance

# Prisma Finance Active users (daily) Methodology

## 1. Overview

The Prisma Finance daily active users (DAU) metric measures the number of unique wallet addresses that interact with Prisma Finance's borrowing protocol each day. This metric captures user engagement by tracking addresses that create new borrowing positions (troves) or modify existing ones, providing insight into daily protocol adoption and user retention for Prisma's mkUSD stablecoin issuance platform.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Ethereum smart contract events**: Parsed `TroveCreated` and `TroveUpdated` events from Prisma Finance's `BorrowerOperations` contract on Ethereum
- **Blockchain transaction metadata**: Ethereum transaction records containing block timestamps and transaction hashes for temporal tracking
- **Chain availability data**: Internal data quality filters to ensure reliable chain data availability

## 3. Step-by-step calculation

### Component A: User activity extraction
- **Purpose**: Identify unique user addresses that interact with Prisma Finance's borrowing functionality
- **Logic**: Extract user addresses from two types of Ethereum smart contract events. From `TroveCreated` events, capture the `borrower` parameter identifying users who create new borrowing positions. From `TroveUpdated` events, capture the `borrower` parameter identifying users who modify existing borrowing positions. Each interaction includes the block timestamp, transaction hash, and user address. Users are classified as either "Trove Creator" or "Trove Updater" based on the event type, and all users are categorized under the stablecoin issuers market sector with the mkUSD product identifier.
- **Key fields**: `borrower` address from contract events, `block_timestamp` for temporal tracking, `user_type` classification, `product_id` set to mkUSD

### Component B: Daily aggregation and deduplication  
- **Purpose**: Convert user activity to daily active user counts by removing duplicate interactions within the same day
- **Logic**: Truncate block timestamps to day-level granularity using day boundary truncation. Apply distinct operation on user addresses within each day to ensure each unique wallet address is counted only once per day, regardless of how many trove operations they performed. Preserve user type, chain, and product metadata for each unique daily user interaction.
- **Key fields**: `timestamp` truncated to day level, `user_address` as the unique identifier, `timestamp_grain` set to day

### Final aggregation
- **Combining components**: The two components flow sequentially - user activity extraction feeds directly into daily aggregation without additional joining
- **Currency conversion**: No currency conversion required as this metric counts users rather than monetary values
- **Time aggregation**: Daily boundaries are established by truncating Ethereum block timestamps to day level, creating consistent 24-hour periods for user counting
- **Final calculation**: The final DAU metric represents the count of distinct user addresses that performed any borrowing-related activity (trove creation or updates) within each calendar day, filtered for data quality using chain availability filters

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

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

Prisma FinancePRISMA

Active users (daily)

Active users (daily)

Competitive landscape