Growth Internals
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Growth Internals is a novel metric that quantifies a protocol’s user acquisition and retention. It uses unique wallet addresses as a proxy for unique users, segmenting them in four ways depending on their month-to-month behavior:
New Users: unique addresses that interacted with the protocol this month for the first time.
Returning Users: unique addresses that interacted with the protocol in the prior month and this month.
Resurrected Users: unique addresses that interacted with the protocol this month and in an earlier month, but not in the prior month. Essentially the user is returning to the protocol after an extended period of time.
Lost Users: unique addresses that interacted with the protocol in the prior month but not in the current month.
The Growth Internals metric offers powerful insight into how users interact with DeFi protocols and whether those protocols are gaining or losing traction over time.
