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IntroArticlesAnalysis
DEFITUNA

Wallet Usage

Tracks unique wallets interacting with the DefiTuna protocol through revenue-generating actions. Daily metrics capture single-day activity, while weekly metrics show rolling 7-day participation to identify sustained engagement patterns.

Data​

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Use Cases​

This page helps you:

  • Track protocol adoption: Monitor growth in unique wallets creating protocol revenue daily
  • Identify engagement patterns: Compare daily spikes with sustained weekly activity to distinguish one-time wallets from regular participants
  • Assess wallet retention: Weekly active wallet trends reveal whether wallets return after their first interaction
  • Evaluate protocol changes: Identify the impact of feature launches, parameter updates, or integrations on usage numbers by comparing activity before and after changes
  • Benchmark growth: Use daily and weekly metrics to measure protocol health over time
  • Identify power users: Use the Top Wallets table to find the most active wallets by transaction count

How to Read This Chart​

Click to expand chart reading guide

Daily View:

  • X-axis: Date (UTC days)
  • Y-axis: Number of unique wallets executing fee-generating actions each day
  • New % line (right axis): Share of active wallets that are first seen on that day
  • 30-day MA: Trend line for active wallets and New % (daily view only)
  • Spikes: May indicate marketing campaigns, token launches, or protocol events
  • Baseline: Represents core user base executing regular transactions

Weekly View:

  • X-axis: Date (UTC days)
  • Y-axis: Rolling 7-day union of active wallets (counts each wallet once even if active on multiple days)
  • New % line (right axis): Share of first-seen wallets within each rolling 7-day window
  • Smooths volatility: Filters out single-day spikes to show sustained engagement trends
  • Lag effect: Changes appear gradually due to 7-day rolling window

View Toggle:

  • Switch between Daily and Weekly using the chart toggle in the chart header

Top Wallets Table:

  • Wallet Address: Solana address (links to Solscan)
  • Tx Count: Total number of fee-generating transactions across all days
  • Days Active: Total distinct days the wallet executed fee-generating transactions (scoped to the selected time range)
  • First/Last Seen: Date range of wallet activity
  • Wallet Details: Link to view staking activity for each wallet

Methodology​

Click to expand technical details

Data Sources

  • Transaction logs: On-chain fee-generating transactions from DefiTuna protocol
  • Wallet identification: Unique Solana addresses executing protocol instructions
  • Activity tracking: Daily records of which wallets executed fee-generating actions

For complete pipeline details, see Data Pipeline.

Fee-Generating Actions

A wallet is counted as active when it executes transactions that generate protocol fees. This includes:

  • Liquidity operations: Swaps, adding/removing liquidity
  • Position management: Opening or adjusting positions
  • Liquidations: Liquidating underwater positions
  • Other revenue-generating activities: Any operation that contributes to treasury revenue

Excluded activities:

  • Staking/unstaking operations (tracked separately in Stakers)
  • Failed transactions
  • System transactions without fee generation

New vs Returning Wallet Classification

Not every wallet whose first observed transaction falls within the data window is genuinely new to the protocol. Some transaction types require prior on-chain state --- for example, you cannot close a position without first having opened one.

When a wallet's first observed transaction is one of these requires-prior-state types, it is classified as a returning wallet rather than a new one. This means the wallet interacted with DefiTuna before the data start date and is re-appearing in the window for the first time.

Entry-point transaction types (can genuinely be a first interaction):

  • Opening new positions, adding liquidity, initial swaps

Requires-prior-state types (wallet classified as returning if seen first):

  • Closing positions, removing liquidity, adjusting existing positions, collecting fees

Daily Active Wallets Calculation

For each UTC day:

  • Collect all successful fee-generating transactions
  • Extract unique wallet addresses from transaction signers
  • Count distinct addresses per day

This provides a snapshot count of unique participants each day, with wallets counted once per day regardless of transaction frequency.

Weekly Active Wallets Calculation

For each UTC day:

  • Collect all unique daily active wallets from the past 7 days (including current day)
  • Count distinct addresses across the 7-day window
  • Each wallet counted once even if active on multiple days within the window

This rolling 7-day union smooths daily volatility and highlights sustained participation patterns.

Top Wallets Ranking

The top wallets table ranks by:

  • Transaction count: Total number of fee-generating transactions (primary sort)
  • Days active: Number of distinct calendar days (UTC) the wallet was active (tiebreaker)
  • Purpose: Identifies the most active users on the platform by transaction count

Update Frequency

Data is automatically updated once per day. Check the "Last updated" timestamp in the site header for data freshness.

Scope

Data is scoped to transactions touching the DefiTuna treasury, not all program interactions. This captures the vast majority of wallet activity since fee-generating operations route through the treasury. The treasury infrastructure wallet (9j6d...) is excluded from the top wallets table to avoid obscuring genuine user rankings.

Known Limitations

  • Data start date: The transaction history begins July 24, 2025. Wallets active before this date will appear as "returning" on their first observed transaction, not "new". True lifetime metrics require a complete history from protocol launch.
  • Only tracks fee-generating activities; non-revenue operations excluded
  • Multi-wallet users (same person controlling multiple addresses) are counted separately
  • Does not measure transaction size or volume, only participation
  • Single-day spike can inflate weekly metric for up to 7 days due to rolling window
  • Cross-protocol users (using multiple protocols) appear as separate wallets per protocol