Overcollateralized nodes custody and transfer funds between blockchains and receive burn & mint fees from traders (supply-side fees).

Ren is a non-custodial interoperability protocol built on Ethereum and other blockchains. Ren was founded by Tayiang Zhang & Loong Wang and launched in 2017. Ren is currently only in redeeming-mode, due to their exposure to the effects of Alameda Research's failure.

REN tokenholders own and govern the protocol. They do not currently take a cut of the total mint/burn fees paid by traders (revenue). Ren's investors include Polychain, FBG Capital, BlockVC, etc.

governance

github

twitter

discord

etherscan

website

Bridges

# Ren Active users (daily) Methodology

## 1. Overview

The Ren DAU (Daily Active Users) metric measures the number of unique user addresses that interact with Ren protocol's cross-chain bridges on a daily basis. This metric captures users who either deposit assets to a chain (mint) or withdraw assets from a chain (burn) through Ren's gateway contracts. The calculation aggregates user activity across seven supported blockchains and counts distinct addresses per day to provide a comprehensive view of daily protocol adoption and user engagement.

## 2. Data sources

The calculation uses the following raw blockchain data sources:
- **Gateway contract events**: Parsed `LogMint` and `LogBurn` events from Ren protocol gateway contracts (BTCGateway and ETHGateway)
- **Multi-chain coverage**: Events collected from Arbitrum, Avalanche, BSC, Ethereum, Fantom, Polygon, and Optimism blockchains
- **Event parameters**: User addresses extracted from the `to` parameter field in gateway events
- **Block timestamps**: Blockchain timestamp data for daily aggregation boundaries
- **Chain availability data**: Metadata used for data quality filtering to exclude periods of known data issues

## 3. Step-by-step calculation

### Component A: Bridge user identification
- **Purpose**: Identify all users who interact with Ren protocol bridges across supported chains
- **Logic**: Collect parsed `LogMint` and `LogBurn` events from gateway contracts on seven blockchains. Extract user addresses from the `to` parameter field, which varies slightly across chains (`to` vs `_to`). Classify each interaction by event type: `LogMint` events identify depositors bringing assets into a chain, while `LogBurn` events identify withdrawers taking assets out of a chain. All interactions are standardized under the bridges market sector and mint and burn business segment.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for deduplication, `to` parameter containing user addresses, event type for user classification

### Component B: Daily aggregation and deduplication
- **Purpose**: Aggregate user activity to daily granularity and count unique users per day
- **Logic**: Truncate block timestamps to daily boundaries using day-level time truncation. Group all user interactions by day, chain, and user type. Apply distinct deduplication to count each unique user address only once per day, regardless of how many bridge transactions they performed. Preserve user type classification (depositor vs withdrawer) and chain information for downstream analysis.
- **Key fields**: `timestamp` truncated to daily granularity, `user_address` for unique user counting, `chain` for multi-chain tracking, `user_type` for interaction classification

### Final aggregation
- **Combining components**: The daily user data flows directly from the user identification component through the aggregation component without additional joins
- **Currency conversion**: Not applicable - this metric counts users rather than monetary values
- **Time aggregation**: All timestamps are truncated to day-level boundaries, with users deduplicated within each 24-hour period
- **Final calculation**: The final DAU value represents the count of distinct user addresses that performed at least one bridge interaction (mint or burn) on each given day, with chain availability filtering applied to exclude data from periods of known quality issues

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

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

RenREN

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown