# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) measures the number of unique accounts that execute revenue-generating transactions on Raydium CLMM. This metric specifically tracks traders interacting with concentrated liquidity pools to perform asset swaps. It serves as a primary indicator of user adoption and demand for the protocol's high-efficiency liquidity features on Solana.

## 2. Data sources

- **Blockchain events**: `Swap` instructions from the Raydium CLMM program, covering Solana
- **External data**: Asset metadata for decimal normalization and token identification

## 3. Step-by-step calculation

### Component A: Concentrated liquidity trade identification

- **Purpose**: To isolate valid trading activity from the Raydium CLMM program.
- **Logic**: Transactions are filtered from the Solana ledger to identify instructions where the executing program matches the Raydium CLMM program. Activity is validated by ensuring that base and quote asset mint addresses are present and that swap amounts are non-null. The account identified as the transaction signer is extracted for each valid trade to represent the unique user responsible for the interaction.

### Component B: User deduplication and monthly aggregation

- **Purpose**: To calculate the distinct count of traders per 30-day rolling window.
- **Logic**: Transaction signers are grouped by 30-day rolling window based on the block timestamp. All interactions from the same account within a single 30-day rolling window are consolidated. A distinct count is then performed on these accounts to determine the total number of unique active users (monthly) for the product.

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

Unique revenue-generating users over a rolling 30-day window.

Active users (monthly)

Exchanges (DEX)