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

Verse is an automated market maker-based decentralized exchange built on Ethereum. Verse was created by Bitcoin.com, and launched in 2022.

VERSE tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Verse's investors include Blockchain.com, KuCoin Ventures and others.

github

twitter

discord

etherscan

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Exchanges (DEX)

Verse

# Verse Active users (daily) Methodology

## 1. Overview

VerseDX daily active users (DAU) measures the number of unique trader addresses that execute at least one swap transaction on the VerseDX v1 decentralized exchange on a given day. This metric answers the business question "How many distinct users are actively trading on VerseDX daily?" and uses a simple approach of counting unique user addresses from swap transactions, aggregated by day.

## 2. Data sources

The calculation relies on the following raw data sources:
- **VerseDX Swap events**: Parsed `Swap` events from the VerseDX v1 protocol contracts on Ethereum, containing swap transaction details including token amounts, participant addresses, and transaction identifiers
- **Ethereum transaction data**: Complete Ethereum transaction records providing the initiating user address (`from_address`) for each transaction hash
- **Blockchain timestamps**: Block-level timestamp data from Ethereum to enable daily time boundary aggregation

## 3. Step-by-step calculation

### Component A: Trade event processing
- **Purpose**: Extract and process all VerseDX swap transactions with user identification
- **Logic**: Retrieve all `Swap` events from VerseDX v1 pair contracts on Ethereum starting from June 14, 2022. Join these swap events with Ethereum transaction data using the `transaction_hash` to identify the actual user who initiated each swap transaction. Calculate the net token amounts for each swap by subtracting the `amount0Out` and `amount1Out` values from the corresponding `amount0In` and `amount1In` values for both tokens involved in each swap.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for joining with transaction data, `from_address` for user identification, `amount0In`, `amount0Out`, `amount1In`, `amount1Out` for swap calculations

### Final aggregation
- **Combining components**: The processed trade events serve as the single data source for user activity
- **Time aggregation**: Block timestamps are truncated to daily boundaries using day-level truncation, creating discrete 24-hour periods for user counting
- **User deduplication**: Within each day, only distinct user addresses are counted, meaning a user who makes multiple swaps on the same day is counted only once
- **Final calculation**: The daily active users count equals the number of unique `user_address` values per day, where each user address represents a trader who executed at least one swap transaction on VerseDX during that specific day
- **Business classification**: All users are classified as "Trader" user type within the "Exchange AMM" business line and "dex" business segment, reflecting VerseDX's role as a decentralized exchange protocol

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

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

VerseVERSE

Active users (daily)

Active users (daily)

Competitive landscape