Key Takeaways Activated wallets measure genuine product value more accurately than wallet connections since a connection only indicates interest while completing a first stake, mint, or swap shows a user found real utility. Transaction frequency signals product-market fit more reliably than pageviews or session counts because onchain actions carry real cost and intent, making them harder to game than passive web engagement. At-risk wallets inactive for 30 or more days should trigger proactive re-engagement since early identification allows intervention before disengagement becomes permanent churn. Traditional metrics like pageviews and sign-ups don't capture the full picture for Web3 products. Success in crypto hinges on onchain user engagement —wallet activity, transaction patterns, and protocol-level interactions that reflect genuine user behavior and value creation. This guide provides essential Web3 user engagement metrics across acquisition, activation, engagement, retention, and revenue.…