# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) measures the number of unique addresses that execute trades through XRPL CLOB within a 30-day rolling window. XRPL CLOB is the Central Limit Order Book component of XRP Ledger's decentralized exchange. Users are counted when they create limit orders or execute trades through payment-based order fills. This metric tracks monthly engagement with the order book trading functionality.

## 2. Data sources

- **Blockchain transactions**: `OfferCreate` transactions and `Payment` transactions that modify or delete offer ledger entries, covering the XRP Ledger blockchain

## 3. Step-by-step calculation

### Component A: Limit order placement tracking

- **Purpose**: Identify users who place limit orders on the order book
- **Logic**: Parse `OfferCreate` transactions where the transaction result equals `tesSUCCESS`. Extract the account address of each transaction sender. Aggregate unique addresses per 30-day window using UTC day boundaries.
- **Key fields**: `account` (order creator), `transaction_type` (order creation), `transaction_result` (success filter), `block_timestamp` (timing)

### Component B: Payment-based trade execution tracking

- **Purpose**: Identify users whose orders are filled via payment transactions
- **Logic**: Parse `Payment` transactions where the transaction result equals `tesSUCCESS`. Filter to affected nodes with ledger entry type `Offer` and node type `ModifiedNode` or `DeletedNode`, requiring that previous fields exist. Join to transaction records to extract the originating account address. Aggregate unique addresses per 30-day window using UTC day boundaries.
- **Key fields**: `account` (payment sender), `ledger_entry_type` (offer identification), `node_type` (modification type), `previous_fields` (state change confirmation)

### Component C: User aggregation

- **Purpose**: Combine limit order placers and payment-based traders into a single monthly active user count
- **Logic**: Union the unique addresses from limit order placement and payment-based trade execution. Deduplicate addresses per 30-day window to ensure each user is counted once regardless of how many orders they place or fills they receive. Tag users with the user type `DEX trader` and product identifier `XRPL CLOB`.

*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)

Through the use of blockchain and modern APIs, Ripple enables financial institutions who are part of the network, RippleNet, to send money globally, instantly, reliably and for fractions of a penny. RippleNet is built on top of Ripple’s consensus ledger, XRP Ledger (XRPL).

Ripple is the leading provider of crypto-enabled solutions for businesses. Ripple was founded by Chris Larsen and Jed McCaleb and launched in 2012 (previously OpenCoin).

XRP tokenholders own and govern Ripple's consensus ledger 'XRP Ledger' (XRPL). Ripple's investors include a16z, Pantera Capital, Route 66 Ventures, etc.