Active user wallets

Authors

@angelaminster (Angela__#0097)

@queriesdata (mar1na (catscatscode)#3578)

Description

This definition and supporting materials are in progress. @angelaminster and her team are working to lay out broad categories of users that may be relevant for different types of entities on the blockchain, and standardize queries for them [1].

A definition of active user wallets rests on defining who the users (customers) are for a particular blockchain, or protocol, or a decentralized exchange (DEX), etc. This involves differentiating users (customers) from "institutional" and/or from "not human" addresses in web3 (smart contracts, multisig wallets, intermediary protocols, or bots).

The actions that characterize a "user" can vary for different objects of analysis. Is one looking for the users of a protocol (and which type of protocol), a blockchain or ecosystem, etc.?

  • For instance, a DEX may be interested in "active user" metrics around human users who make swaps, deposit liquidity, and conduct other decentralized finance (DeFi) operations on their platform. This could potentially exclude intermediary transactions, e.g. a swap from a Metamask wallet that is executed on Uniswap.

  • As another example, an NFT marketplace may be interested in users who list, buy, and or/sell assets, among other possible metrics.

Another dimension is to make a distinction between presumed human and presumed non-human (bot) operated wallets.

As an additional consideration, one can look at what constitutes sufficient activity for "active" user wallets. For instance, does one transaction a month qualify the wallet as "active" for that month?

[2].

You can follow the progress of this definition on the current page and in the GitHub repository shared below.

References

  1. Flipside Crypto. User metrics: https://github.com/FlipsideCrypto/user_metrics

  2. Web3 Data Dictionary Community Branstorm. Active users. Discussion by charliemarketplace.eth#2028, pinehearst#1947, angela__#0097, mar1na (catscatscode)#3578, and drethereum#2906: https://bounty.metricsdao.xyz/bounty-programs/web3-data-glossary

Related definitions

Daily active users (DAU)

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