# Active users (daily) Methodology

## 1. Overview

Active users (daily) measures the number of unique addresses that perform revenue-generating transactions on Thena Integral. This metric provides a gauge of user engagement and adoption for the protocol's concentrated liquidity engine. Activity is captured through successful swap transactions, where each unique transaction signer is counted once per 24-hour window.

## 2. Data sources

- **Blockchain events**: `Swap` events from `AlgebraPoolV2` contracts and transaction-level metadata on BNB Chain

## 3. Step-by-step calculation

### Component A: Thena Integral swap activity tracking

- **Purpose**: To identify all trade interactions occurring on the Thena Integral concentrated liquidity pools.
- **Logic**: `Swap` events are parsed from `AlgebraPoolV2` contracts. Only events specifically associated with the Thena Integral product version are included in the dataset to ensure distinct attribution from other protocol versions.
- **Key fields**: `transaction_hash` (identification), `block_timestamp` (timing)

### Component B: Transaction signer attribution

- **Purpose**: To identify the unique user address responsible for initiating a trade.
- **Logic**: Individual swap events are joined with blockchain transaction records using the transaction hash. The `from_address` field of the transaction is extracted to identify the user who initiated the swap, serving as the primary identifier for active user calculations.
- **Key fields**: `from_address` (user identification), `transaction_hash` (join key)

### Component C: Daily deduplication and aggregation

- **Purpose**: To calculate the distinct count of unique users on a daily basis.
- **Logic**: All identified user addresses are truncated to a daily grain based on the UTC timestamp of the block in which the transaction occurred. A distinct count of addresses is performed for each 24-hour window. Chain availability filters are applied to ensure the metric only includes data from validated and non-archived time periods.
- **Key fields**: `block_timestamp` (daily truncation), `user_address` (distinct count)

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

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

Active users (daily)

Exchanges (DEX)

Liquidity providers deposit funds into Thena and stake their LP tokens to receive THE tokens (token incentives).

Thena is a non-custodial exchange protocol built on BNB Chain. Thena was founded by an anonymous team and launched in 2023.

THE tokenholders own and govern the protocol. They vote for pools where they wish to receive trading fees and external bribes from, while pools receive THE emissions in respect to their share of votes.

Thena Integral

Archived

Active users (daily)

Active users (daily)

Chain breakdown