# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) is measured as the number of unique addresses that execute revenue-generating transactions with Raydium Stable Swap. This metric is utilized to track user engagement and adoption of the stablecoin-optimized liquidity pools on Solana. Active users (monthly) are measured over a 30-day rolling window.

## 2. Data sources

- **Blockchain events**: Swap instructions from the Raydium Stable Swap program, covering Solana

## 3. Step-by-step calculation

### Component A: Stable swap activity extraction

- **Purpose**: Isolate swap transactions associated with Raydium Stable Swap
- **Logic**: Swap instructions are filtered from general Solana DEX trade records. Activity is specifically isolated for Raydium Stable Swap by filtering for its specific program ID. Data quality is maintained by excluding transactions with missing asset amounts, mint addresses, or vault account addresses.
- **Key fields**: `block_timestamp`, `executing_account`, `base_amount`, `quote_amount`

### Component B: User identification

- **Purpose**: Identify the individual entities performing trades
- **Logic**: The transaction signer is extracted from each swap instruction to represent the unique user. This account is classified as a "Trader" within the user dimension of the protocol's data models.
- **Key fields**: `signer`

### Component C: Monthly aggregation

- **Purpose**: Calculate the unique monthly set of users
- **Logic**: Unique signers are aggregated by timestamp, truncated to monthly granularity using a 30-day rolling window. The results are filtered through a chain availability filter to ensure only data from active and approved maintenance windows is included.
- **Key fields**: `block_timestamp`, `signer`, `product_id`

*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)