Comparing cohorts by lifetime
Abstract. A week of new Gnosis Pay card users can look quiet next to a week that has had years to spend. This note splits users by the currency they spent the most of, then divides each user’s volume by the seconds since their first card payment, so the weeks can be compared. EUR, GBP, and USD stay in their own units. Payments and the lifetime clock stop at 1 June 2026, before users moved to new wallets after the hack.
A user
A user is the address that sent a spendable token to the card aggregator 0x4822521E6135CD2599199c83Ea35179229A172EE. The tokens are EUR, GBP, and USD. EUR v1 and GBP v1 count from 1 November 2022 through 25 August 2024. EUR v2, GBP v2, and USD count from 26 August 2024. v1 and v2 of the same token are one currency. There is no Safe check, and one address is not one person.
The join week is the Monday of that address’s first payment in any of the three currencies. Dune’s week starts at Monday 00:00 UTC. Card payments at or after 1 June 2026 00:00 UTC are left out. After the hack, users moved to new wallets, and those new addresses would show up as new users.
The currency
The amounts are not converted to dollars. Dune has no euro or pound FX series, and the on-chain GBP price is a DEX price, not a bank rate. Each user is labeled by the currency with the largest face-amount sum before the cutoff: EUR and GBP divided by 1e18, USD by 1e6. A tie prefers USD, then EUR, then GBP. The charts use only that currency for the user. A euro week is never divided by a dollar week.
How many joined
Total volume
Face volume is the sum of those payments, still in token units. A tall bar can be an old week that has simply had longer to spend.
Volume per user
Dividing the week’s volume by its user count removes the effect of a crowded week. It does not remove the effect of time. An early user has had more seconds in which to pay.
Dividing by lifetime
The lifetime of a user is the seconds from their first card payment to the cutoff:
volume / date_diff('second', first_tx_ts, as_of)
as_of is 1 June 2026 00:00 UTC for every user. A lifetime of zero seconds is dropped. A lifetime under 7 days is counted as 7 days. The week of 26 February 2024 holds the most EUR volume in this window, about 6.8 million EUR from 235 users, and it has the EUR total-volume score of 1. Their per-user score is about 0.39, because those users had more than two years to spend before the clock stopped.
The per-user score
For each user, divide their volume by their lifetime. Average those ratios inside the join week. Then divide by the best week of the same currency, so that week is 1 and the others fall between 0 and 1. This is the mean of the ratios, not the week’s volume divided by one shared duration.
The total-volume score
The same division, summed across the users in the week instead of averaged, then scaled by the best week of that currency. A large week can lead here even when a typical user in a smaller week spends faster.
The open week
The latest week stays in the result. It starts on 25 May 2026. A payment on 31 May would have only hours before 1 June, so any lifetime under 7 days is counted as 7 days. That week is still on the charts: 86 EUR users and about 17,374 EUR, with a total-volume score of about 0.30, and 167 USD users and about 62,916 USD. The USD total-volume score still peaks there, because that amount over 7 days is a higher rate than the earlier USD weeks. The clock is fixed, so a later read of this file does not move those scores.
The same five charts are on the cohort dashboard. The dashboard can also show the full history, including the weeks after the hack.