Overcollateralized borrowers deposit funds into Vesta Finance and borrow VST stablecoin.

Vesta Finance is a non-custodial stablecoin protocol built on Arbitrum. Vesta Finance was founded by Mikey Milken and launched in 2022.

VSTA tokenholders own and govern the protocol. They currently take all of the total interest paid by borrowers (revenue).

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Vesta Finance

# Vesta Finance Active users (weekly) Methodology

## 1. Overview

Weekly Active Users (WAU) for Vesta measures the number of unique users who interact with the Vesta lending protocol within any 7-day rolling window. This metric tracks user engagement by counting distinct addresses that perform key lending operations like creating or updating troves (collateralized debt positions). The calculation uses HyperLogLog sketches for efficient approximate counting and provides breakdowns by chain, user type, and product dimensions.

## 2. Data sources

- **Arbitrum blockchain events**: Parsed `TroveCreated` and `TroveUpdated` events from Vesta's BorrowerOperations smart contract
- **Transaction metadata**: Block timestamps and transaction hashes from Arbitrum blockchain
- **Smart contract interaction data**: User addresses (`borrower` parameter) from Vesta lending protocol events
- **Chain availability data**: Filtering logic to ensure data quality based on chain operational periods

## 3. Step-by-step calculation

### Component A: User interaction capture
- **Purpose**: Identifies all user interactions with Vesta lending protocol
- **Logic**: Extracts user addresses from Vesta BorrowerOperations contract events on Arbitrum. Captures `TroveCreated` events (when users open new collateralized debt positions) and `TroveUpdated` events (when users modify existing positions). Each event provides the `borrower` address, block timestamp, and transaction hash. Users are classified as either "Trove Creator" or "Trove Updater" based on the specific event type they trigger.
- **Key fields**: `block_timestamp` for timing, `borrower` address for user identification, `transaction_hash` for deduplication, `user_type` for classification, `chain` identifier, and market categorization as stablecoin issuer

### Component B: Daily active user aggregation
- **Purpose**: Creates daily snapshots of unique active users
- **Logic**: Groups user interactions by day using timestamp truncation to daily boundaries. Creates distinct user lists for each combination of date, chain, user type, and product. Converts these daily user lists into HyperLogLog sketches for efficient storage and later merging operations. The HLL sketches enable approximate but highly accurate unique user counting across time periods.
- **Key fields**: `timestamp` (truncated to day), `timestamp_grain` set to "day", `chain` identifier, `user_type` classification, `product_id`, and `user_dau` containing the HLL sketch of unique users

### Component C: Rolling window construction  
- **Purpose**: Creates 7-day rolling windows for weekly user counting
- **Logic**: Generates a complete datespine covering all days from the first user interaction to yesterday to ensure no gaps in the time series. For each day, creates a 7-day lookback window by joining with the current day plus the previous 6 days. This windowing approach captures users who were active at any point during the 7-day period ending on each date.
- **Key fields**: `timestamp` for the window end date, `joinday` for each day within the 7-day window, and all dimension fields maintained through the joins

### Component D: Weekly unique user calculation
- **Purpose**: Counts unique users across 7-day periods using HLL sketch merging
- **Logic**: For each 7-day window, merges the daily HLL sketches to count unique users who were active at any point during that week. Uses HyperLogLog merge operations to combine daily user sets while maintaining uniqueness. Extracts the final unique count from the merged HLL sketch to produce the weekly active user metric.
- **Key fields**: `timestamp` for the week ending date, merged `hll` sketches, and `user_wau` as the extracted unique user count

### Final aggregation
- **Combining components**: Creates multiple dimensional views of the weekly active user data by grouping the merged HLL sketches differently - project-level (all users combined), by chain, by user type, and by product. Each breakdown maintains the same time series but provides different levels of granularity.
- **Currency conversion**: Not applicable for user count metrics
- **Time aggregation**: Uses 7-day rolling windows with daily granularity, meaning each day represents the count of unique users active in the 7-day period ending on that date
- **Final calculation**: The final WAU value represents the approximate unique count of user addresses that performed any Vesta lending operations (trove creation or updates) within each 7-day rolling window, calculated using HyperLogLog sketch merging for computational efficiency

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

Unique revenue-generating users over a rolling 7-day window.

Vesta FinanceVSTA

Active users (weekly)

Active users (weekly)

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