Liquidity providers deposit funds into SyncSwap and receive trading fees from traders (supply-side fees).

SyncSwap is a non-custodial exchange protocol built on zkSync Era (originally a fork of Uniswap). SyncSwap was founded by an anonymous team in 2023.

The SyncSwap team owns and governs the protocol. They currently take a cut of the trading fees paid by the users (revenue).

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Exchanges (DEX)

SyncSwap

# SyncSwap Active users (daily) Methodology

## 1. Overview

Daily Active Users (DAU) measures the number of unique users who interact with SyncSwap's decentralized exchange on zkSync Era within a 24-hour period. This metric captures users performing either trading activities (through Classic or Stable pools) or flash loan operations, categorizing all participants as 'Trader' type users. The calculation ensures each user is counted only once per day regardless of the number or type of transactions they perform.

## 2. Data sources

The calculation relies on these underlying raw data sources:
- **SyncSwap smart contract events**: Parsed `FlashLoan` events from SyncSwap's Vault contracts and `Swap` events from both ClassicPool and StablePool contracts on zkSync Era
- **Transaction data**: zkSync Era transaction records containing transaction initiator information (`from_address`) needed to identify actual users
- **Smart contract addresses**: SyncSwap V1 contract addresses for Vault, ClassicPool, and StablePool implementations
- **Blockchain metadata**: Block timestamps, transaction hashes, and log indices for event identification and temporal ordering

## 3. Step-by-step calculation

### Component A: Flash loan users
- **Purpose**: Identifies users who performed flash loan operations through SyncSwap's Vault contract
- **Logic**: Extracts all `FlashLoan` events from SyncSwap's Vault contract on zkSync Era, capturing details like `recipient`, `token`, `amount`, and `feeAmount`. Joins these events with zkSync Era transaction records using `transaction_hash` to map the contract recipient address to the actual transaction initiator (`from_address`). This mapping is crucial because flash loan events show the recipient of the loan, not necessarily the user who initiated the transaction
- **Key fields**: `block_timestamp` for temporal analysis, `user_address` derived from transaction `from_address`, `recipient` from the flash loan event, `token_address`, `amount`, and `fee_amount`

### Component B: Trading users  
- **Purpose**: Identifies users who performed swap transactions on SyncSwap's AMM pools
- **Logic**: Combines `Swap` events from two pool types - ClassicPool for standard AMM trading and StablePool for stable asset swaps. For each swap event, calculates net token movements by computing `amount0In` minus `amount0Out` for token0 and `amount1In` minus `amount1Out` for token1. Joins swap events with zkSync Era transaction records to identify the actual user (`from_address`) who initiated the trade, rather than just the contract interaction address (`sender`)
- **Key fields**: `block_timestamp`, `user_address` from transaction `from_address`, `sender` from swap event, `token0_amount` and `token1_amount` calculated as net movements, product differentiation between 'Classic pool' and 'Stable pool'

### Final aggregation
- **Combining components**: Uses UNION DISTINCT to merge users from flash loan and trading activities, ensuring users active in both categories are counted only once per day. All users are categorized with `user_type` as 'Trader' regardless of their specific activity type
- **Time aggregation**: Truncates `block_timestamp` to daily boundaries using `timestamp_trunc(block_timestamp, day)` to group activities by calendar day
- **Metadata standardization**: Assigns consistent values for `chain` ('zksyncera'), `market_sector_id` ('exchanges'), `business_segment_id` ('dex'), and `timestamp_grain` ('day')
- **Final calculation**: Counts distinct `user_address` values per day from the combined dataset, applying chain availability filtering to handle potential data quality issues. The result represents the number of unique users who performed any SyncSwap activity on each day

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

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

SyncSwap

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown