Identify, define and measure multiple user segments basis their level of activity in the community. Create views and segments that matter the most - so that you start taking target actions for multiple segments.
Take targeted actions to progress the users on the leaderboard. Create more power users each month.
Once you have identified multiple user segments - you can activate dormant/at risk users by being on top of which members move to this view every day. Send them an activation DM right away, rather than waiting for more days.
Do surveys on why users leave? What more can you do to make them stay. Create a better onboarding experience and have a view of who is moving to the "at risk" segment.
Create milestones to track user's progress within the community. The milestones can be a cumulative performance index based on multiple actions taken in the community.