Cohort Analysis
Cohort Analysis is a method of user research that tracks the behavior of specific groups of users over time. By segmenting users based on when they first interacted with a protocol, analysts can observe retention trends and lifetime value.
For example, a cohort might consist of all users who joined during a specific liquidity mining event. This helps determine if those users remained active after the incentives ended.
This analysis is vital for distinguishing between organic protocol growth and speculative activity driven by temporary rewards. It provides actionable data for improving product features and incentive design.
In the context of DeFi, it is a powerful tool for assessing the stickiness and long-term health of a platform's user base.