How to Track DAU, WAU, and MAU

Formo measures DAU, WAU, and MAU by unique wallet address instead of page views or cookies. This guide covers viewing these metrics in the dashboard, building custom charts, and segmenting active users by lifecycle and behavior.

What you’ll learn

Understand the difference between visitors and active users for crypto apps
Set up DAU/WAU/MAU tracking with wallet-based metrics
Create custom dashboards for user engagement
Analyze active user trends over time

Part 1: Understanding Crypto App User Metrics

What is a user?

Traditional web analytics count “active users” by sessions or page views. For crypto apps, this misses the mark:

Metric	Traditional Analytics	Formo
Active user	Any visitor with a session	Wallet connected OR transaction completed
Unique users	Cookie-based (easily duplicated)	Wallet address (unique by design)
Engagement	Time on page, clicks	Transactions, signatures, value moved

Key metrics for crypto apps

Metric	Definition	Why it matters
DAU	Unique wallets active in the last 24 hours	Daily engagement health
WAU	Unique wallets active in the last 7 days	Weekly usage patterns
MAU	Unique wallets active in the last 30 days	Monthly reach
DAU/MAU ratio	DAU divided by MAU	Stickiness (higher = more engaged)
New users	First-time wallet connects	Growth rate
Returning users	Wallets with multiple sessions	Retention quality
Power users	Active 5+ days in last 30 days	Core engaged users
Volume/Revenue	Total transaction value	Economic activity
Retention	% of users returning over time	Long-term engagement

Part 2: How to View Core Metrics

Step 1: Open the Overview dashboard

Go to the Formo Dashboard

Open app.formo.so.

Select your project

Click Overview in the left navigation

You’ll see top-line metrics including:

Visitors (page views)
Wallets (connected wallets)
Transactions (completed transactions)

Step 2: Adjust the date range

Use the date picker to view different time periods:

Date range	What you’ll see
Today	DAU (daily active wallets)
Last 7 days	WAU breakdown by day
Last 30 days	MAU breakdown by day

Step 3: View the trend chart

The overview chart shows daily unique wallets over time. Look for:

Growth trends: Is DAU increasing week-over-week?
Weekly patterns: Which days have the highest engagement?
Anomalies: Sudden spikes or drops to investigate

Part 3: How to Create a Custom DAU Dashboard

Build a dedicated dashboard to monitor active user metrics.

Step 1: Navigate to Dashboards

Click Dashboards in the left navigation

Click Add board to create a new dashboard

Step 2: Create a DAU chart

Using Ask AI (Recommended):

Click Ask AI in the sidebar

Type: "Show me daily unique connected wallets for the last 30 days"

Save the generated chart to your dashboard

Or, click Add Chart to add a visualization yourself with SQL

Using SQL (via the Explorer):

SELECT
  toDate(timestamp) AS date,
  countDistinct(address) AS daily_active_wallets
FROM events
WHERE type = 'connect'
  AND timestamp >= now() - INTERVAL 30 DAY
GROUP BY date
ORDER BY date

Choose Line chart for visualization.

Step 3: Create a WAU chart

Using Ask AI: Type: “Show me 7-day rolling unique wallets” Using SQL:

SELECT
  toDate(timestamp) AS date,
  countDistinct(address) AS wallets
FROM events
WHERE type = 'connect'
  AND timestamp >= now() - INTERVAL 37 DAY
GROUP BY date
HAVING date >= now() - INTERVAL 30 DAY
ORDER BY date

For a true rolling 7-day WAU, you’ll need a window function. The Ask AI assistant can help generate this query.

Part 4: How to Segment Active Users

Not all active users are equal. Segment by behavior and value.

By user lifecycle

Formo automatically categorizes users by lifecycle: Formo classifies every wallet into one lifecycle stage (New, Returning, Power user, At Risk, Churned, or Resurrected) based on activity recency and frequency. See User Lifecycle for the exact rules and thresholds. View these segments by going to Users and applying the Lifecycle filter.

By activity level

Create segments for different activity levels: High-value active users:

Connected wallet in last 7 days AND
Completed transaction in last 7 days AND
Net worth > $10,000

Churned users who were previously active:

Volume > $10,000 AND
Lifecycle = Churned

By traffic source

Track which channels drive the most engaged users:

Go to Overview

View Wallets by Referrer in the breakdown tabs

Compare conversion rates across sources

Part 5: How to Track Active Users Over Time

Week-over-week comparison

Compare this week’s DAU to last week:

Open your DAU chart

Select Last 7 days date range

Compare to the previous week's data

Look for:

Growth: This week > last week = positive trend
Decline: Investigate causes (seasonal, product issues, competition)
Stability: Consistent DAU week-over-week

Weekly cohort analysis

Track how each week’s users retain over time:

Go to Dashboards in the sidebar

Click Add Chart and select the Retention chart type

Set the starting event to connect and the returning event to connect

Compare retention rates across weekly cohorts

A healthy pattern:

Initial drop-off in week 1 (normal)
Stabilization in weeks 2 to 4
Consistent long-term retention

Part 6: Example DAU Dashboard

Here’s a complete dashboard setup for tracking active users:

Chart	Type	Query
DAU	Number	Unique wallets today
WAU	Number	Unique wallets last 7 days
MAU	Number	Unique wallets last 30 days
DAU Trend	Line	Daily unique wallets, 30 days
New vs. Returning	Stacked bar	New and returning users by day
DAU/MAU	Number	Stickiness ratio
Active by Referrer	Bar	DAU breakdown by traffic source
Active by Country	Pie	Geographic distribution

Summary

You’ve learned how to:

Understand crypto app user metrics (DAU/WAU/MAU with wallet addresses)
View core metrics in the Formo dashboard
Create custom dashboards with SQL or Ask AI
Segment active users by lifecycle and engagement
Track trends with week-over-week comparisons

FAQ

What counts as an active user in Formo?

A user who connected a wallet or completed a transaction within the time period. Page-only visitors are counted separately as visitors.

What's the difference between visitors and wallets?

Visitors are unique anonymous IDs tracked by session, regardless of whether they connect a wallet. Wallets are unique addresses that connected to your app. A single visitor can connect multiple wallets.

Can I track DAU across multiple chains?

Yes. Formo tracks wallet connections across all supported chains. A user connecting on Ethereum and Polygon counts as one unique wallet address.

​What you’ll learn

​Part 1: Understanding Crypto App User Metrics

​What is a user?

​Key metrics for crypto apps

​Part 2: How to View Core Metrics

​Step 1: Open the Overview dashboard

​Step 2: Adjust the date range

​Step 3: View the trend chart

​Part 3: How to Create a Custom DAU Dashboard

​Step 1: Navigate to Dashboards

​Step 2: Create a DAU chart

​Step 3: Create a WAU chart

​Part 4: How to Segment Active Users

​By user lifecycle

​By activity level

​By traffic source

​Part 5: How to Track Active Users Over Time

​Week-over-week comparison

​Weekly cohort analysis

​Part 6: Example DAU Dashboard

​Summary

​FAQ

What you’ll learn

Part 1: Understanding Crypto App User Metrics

What is a user?

Key metrics for crypto apps

Part 2: How to View Core Metrics

Step 1: Open the Overview dashboard

Step 2: Adjust the date range

Step 3: View the trend chart

Part 3: How to Create a Custom DAU Dashboard

Step 1: Navigate to Dashboards

Step 2: Create a DAU chart

Step 3: Create a WAU chart

Part 4: How to Segment Active Users

By user lifecycle

By activity level

By traffic source

Part 5: How to Track Active Users Over Time

Week-over-week comparison

Weekly cohort analysis

Part 6: Example DAU Dashboard

Summary

FAQ