# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) measures the number of unique addresses that make a revenue-generating transaction with a project, i.e. An application or a blockchain. Active users (monthly) are measured over a 30-day rolling window. For Uniswap V2, this is represented by unique addresses executing swaps on the platform. This metric is utilized to assess user adoption, engagement, and the overall economic activity of the Uniswap V2 protocol across supported blockchains.

## 2. Data sources

- **Blockchain events**: `Swap` events from `Pair` contracts, `setFeeTo` function calls from `Factory` contracts, and transaction metadata from transaction tables, covering Ethereum, Arbitrum, Optimism, Base, and 5 other chains

## 3. Step-by-step calculation

### Component A: Uniswap V2 trade tracking

- **Purpose**: Identify swap transactions executed on Uniswap V2
- **Logic**: `Swap` events are parsed from `Pair` contracts across all supported chains. For each swap event, the transaction hash is joined with the native blockchain transactions table to extract the transaction sender address, which represents the active trader. Denylisted trading pairs, identified by their contract addresses, are excluded to filter out low-liquidity assets
- **Key fields**: `block_timestamp` (timing), `transaction_hash` (transaction identification), `address` (pool address), `from_address` (user address)

### Component B: Uniswap V2 revenue-generating transaction verification

- **Purpose**: Verify that the transactions are revenue-generating
- **Logic**: Swap transactions on Uniswap V2 are inherently revenue-generating as they incur swap fees. To determine the protocol revenue split, `setFeeTo` function calls from `Factory` contracts are tracked. If a fee recipient address is set, a portion of the swap fee is designated as protocol revenue, though all swaps are considered active user transactions regardless of whether the protocol fee switch is active
- **Key fields**: `revenue_split` (protocol fee share), `fee_to_address` (fee recipient)

### Component C: Monthly distinct aggregation

- **Purpose**: Aggregate unique active users on a monthly basis
- **Logic**: Transaction sender addresses are aggregated over 30-day rolling UTC windows. Duplicate addresses within the same 30-day window, chain, and product are eliminated to yield the count of unique active users (monthly). Chain availability filters are applied to align the data with supported chain lifecycles
- **Key fields**: `timestamp` (monthly boundary), `chain` (blockchain identifier), `user_address` (unique trader address)

*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)

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

Uniswap is a non-custodial exchange protocol built on Ethereum. Uniswap was founded by Hayden Adams and launched in 2018.

UNI tokenholders own and govern the protocol. They do not currently take a cut of the total trading fees paid by traders (revenue). Uniswap's investors include Paradigm, a16z, USV, etc.

Uniswap V2

Active users (monthly)

Active users (monthly)

Chain breakdown