# Active users (monthly) Methodology

## 1. Overview

Active users (monthly) is defined as the number of unique addresses that make a revenue-generating transaction with Uniswap V3 within a 30-day rolling window. This metric is utilized as a key indicator of user adoption, protocol utility, and overall transactional activity. Transactions that generate protocol fees or liquidity provider fees, specifically asset swaps and flash loans executed through Uniswap V3 smart contracts, are captured to identify active users. Active users (monthly) are aggregated on a monthly basis to represent unique user engagement per chain.

## 2. Data sources

- **Blockchain events**: `Swap` and `Flash` events from `Pool` contracts, combined with transaction sender data from native transaction tables, covering Ethereum, Arbitrum, Optimism, Polygon, and 11 other chains

## 3. Step-by-step calculation

### Component A: Trade user extraction

- **Purpose**: Unique user addresses executing swaps on Uniswap V3 pools are extracted.
- **Logic**: `Swap` events are parsed from `Pool` contracts. To identify the unique user address initiating each swap, the events are joined with native blockchain transaction tables using the transaction hash to extract the transaction sender address. Pool addresses identified as denylisted due to limited price feed support or low liquidity are filtered out by matching pool addresses against a denylist dimension table.
- **Key fields**: `block_timestamp`, `transaction_hash`, `pool_address`, `user_address`

### Component B: Flash loan user extraction

- **Purpose**: Unique user addresses executing flash loans on Uniswap V3 pools are extracted.
- **Logic**: `Flash` events are parsed from `Pool` contracts. These events are joined with native blockchain transaction tables using the transaction hash to retrieve the transaction sender address. Pool addresses are filtered against the denylist dimension table to exclude inactive or low-liquidity pairs.
- **Key fields**: `block_timestamp`, `transaction_hash`, `pool_address`, `user_address`

### Component C: Active users (monthly) aggregation

- **Purpose**: Active user addresses from both trades and flash loans are combined, deduplicated, and aggregated to calculate the monthly metric.
- **Logic**: The extracted user addresses from both trades and flash loans are combined. Transaction timestamps are truncated to day boundaries in UTC. A deduplication process is performed to count each unique user address only once per 30-day window, chain, and product. Finally, a chain availability filter is applied to exclude specific chains based on archival status or data approval limits.
- **Key fields**: `timestamp`, `chain`, `product_id`, `user_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 V3

Active users (monthly)

Active users (monthly)

Chain breakdown