Lenders deposit funds into Silo Finance and receive interest payments from borrowers (supply-side fees).

Silo Finance is a non-custodial lending protocol built on Sonic and other EVM-based blockchains. Silo Finance was founded by Aiham Jaabari and launched in 2021.

SILO tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue).

governance

github

twitter

discord

etherscan

website

Lending

Silo Finance

# Silo Finance Active users (daily) Methodology

## 1. Overview

Active users (daily) measures the number of unique addresses that interact with Silo Finance by performing revenue-generating or core protocol transactions. This metric captures the primary activity within the protocol's lending markets, including depositing collateral, borrowing assets, repaying loans, and withdrawing funds. It serves as a key indicator of user engagement and adoption across the various versions and chains where Silo Finance is deployed.

## 2. Data sources

- **Blockchain events**: `Borrow`, `Deposit`, `Withdraw`, and `Repay` events from `SiloV1`, `SiloV2`, `SiloV3`, `Silo`, and `Silo1` contracts, covering Ethereum, Arbitrum, Base, Optimism, and 3 other chains

## 3. Step-by-step calculation

### Component A: Event extraction and filtering

- **Purpose**: Identify all relevant business interactions while removing excluded or invalid market data.
- **Logic**: `Borrow`, `Deposit`, `Withdraw`, and `Repay` events are parsed from the protocol's smart contracts across all supported chains. Transactions associated with specific market or vault addresses identified as excluded—such as those impacted by the Stream and Stable Labs collapse or specific stream-impacted markets—are filtered out of the dataset to ensure the metric reflects active, valid protocol usage.
- **Key fields**: `transaction_hash`, `block_timestamp`, `address` (contract address)

### Component B: User identification

- **Purpose**: Attribute protocol events to the unique addresses that initiated the transactions.
- **Logic**: The transaction hash from each identified protocol event is joined with the native blockchain transactions table for the corresponding chain. The `from_address` of the transaction is extracted and designated as the unique user address. This ensures that the metric captures the primary actor responsible for the protocol interaction.
- **Key fields**: `transaction_hash`, `from_address`

### Component C: Daily aggregation

- **Purpose**: Calculate the distinct count of unique users per day.
- **Logic**: User addresses are truncated to daily intervals based on the block timestamp. The number of unique addresses is then aggregated by day, chain, and user type (e.g., Borrower, Depositor, Withdrawer, or Repayer). Daily granularity is maintained using UTC day boundaries.
- **Key fields**: `block_timestamp`, `user_address`, `chain`, `user_type`

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

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

Silo FinanceSILO

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown