# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) measures the number of unique addresses that make a revenue-generating transaction with Raydium CPMM. This metric specifically captures the unique signers of transactions that interact with the Constant Product Market Maker (CPMM) program on Solana. By tracking unique participants engaged in swap activity, the scale of the active user base for Raydium CPMM is determined over a 30-day rolling window.

## 2. Data sources

- **Blockchain events**: `Initialize`, `CreateAmmConfig`, and `UpdateAmmConfig` instructions from the `CPMM` program, plus swap instructions executed by the Raydium CPMM program on Solana

## 3. Step-by-step calculation

### Component A: Raydium CPMM trade identification

- **Purpose**: Filter for revenue-generating swap transactions involving Raydium CPMM pools.
- **Logic**: Transactions are parsed from Solana DEX activity where the executing account or outer executing account matches the Raydium CPMM program. Data is filtered to include only transactions with non-null amounts and valid mint addresses for both base and quote assets to ensure only completed trade activity is captured.
- **Key fields**: `executing_account`, `outer_executing_account`, `transaction_signer`, `base_amount`, `quote_amount`

### Component B: User address extraction

- **Purpose**: Identify the unique entity responsible for the protocol interaction.
- **Logic**: The signer of each identified trade transaction is extracted. The signer represents the account that authorized the transaction and paid the associated fees, serving as the primary identifier for the active user.
- **Key fields**: `transaction_signer`

### Component C: Monthly aggregation

- **Purpose**: Deduplicate users to calculate the monthly active count.
- **Logic**: Extracted signers are truncated by timestamp to a monthly grain. Unique addresses are counted across a 30-day rolling window. This process ensures that an address performing multiple swaps within a 30-day window is counted as one active user (monthly).
- **Key fields**: `block_timestamp`, `transaction_signer`

*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)