Track daily active users (DAU), weekly active users (WAU), and monthly active users (MAU) for your crypto app with Formo’s wallet-native analytics.
Unlike traditional analytics that count page views, Formo tracks actual wallet engagement, giving you accurate user metrics for onchain applications.
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
Prerequisites
- Formo SDK installed (Installation Guide)
- At least 7 days of data collection (for meaningful WAU metrics)
Part 1: Understanding Crypto App User Metrics
Traditional vs. onchain active users
Traditional web analytics count “active users” by sessions or page views. For crypto apps, this misses the mark:
| Metric | Traditional Analytics | Formo (Onchain) |
|---|
| 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
Formo provides core metrics for tracking user engagement out of the box.
Step 1: Open the Overview dashboard
Go to the Formo Dashboard
Click Overview in the left navigation
- 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 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
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
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 feature can help generate this query.
Step 4: Create a DAU/MAU stickiness chart
This ratio shows what percentage of monthly users engage daily. It’s a key health metric.
Using Ask AI:
Type: “Calculate DAU/MAU ratio for the last 30 days”
A healthy DAU/MAU ratio for crypto apps:
- 5-10%: Normal for most crypto apps
- 10-20%: Strong engagement
- 20%+: Exceptional stickiness (common for DEXes, gaming)
Step 5: Organize your dashboard
Arrange your charts into a useful layout:
| Row | Charts |
|---|
| Top | DAU (number), WAU (number), MAU (number) |
| Middle | Daily active wallets trend (line chart) |
| Bottom | DAU/MAU ratio, New vs. Returning users |
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:
| Segment | Definition |
|---|
| New | First activity in last 30 days |
| Returning | Multiple sessions, active recently |
| Power User | Active 5+ days in last 30 days |
| Churned | No activity for 30+ days |
| Resurrected | Returned after being churned |
By engagement 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:
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:
Select Last 7 days date range
Compare to the previous week's data
- 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 Retention in the left navigation
View the cohort retention chart
Compare retention rates across weekly cohorts
- Initial drop-off in week 1 (normal)
- Stabilization in weeks 2-4
- 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
- Set up alerts for metric changes
Benchmarks for crypto app DAU
| App Type | Typical DAU/MAU | Notes |
|---|
| DEX | 15-25% | High-frequency usage |
| Lending | 5-10% | Less frequent interactions |
| Gaming | 20-40% | Daily engagement loops |
| Bridge | 3-5% | Infrequent, high-value |
Next steps
