# Axiom Perps Fees Methodology

## 1. Overview

The Fees metric for Axiom Perps is defined as the total economic value generated from perpetual trades executed through the application. Builder fees are distributed by the Hyperliquid network to the designated Axiom Perps builder account at the time of trade execution. These fees are accumulated to measure the overall economic activity and volume-driven performance of the protocol. All perpetual trading fees are settled and denominated in USDC.

## 2. Data sources

- **Blockchain events**: `node_fills` events from the hypercore chain

## 3. Step-by-step calculation

### Component A: Perps builder fee extraction

- **Purpose**: The extraction of builder fees generated by Axiom Perps trades.
- **Logic**: `node_fills` events are parsed from the hypercore chain. Transactions are filtered to include only those where the builder address matches the designated Axiom Trade builder address. Additional filtering is applied to restrict data to transactions occurring on or after the Axiom Perps launch date where the fee asset is USDC. The builder fee amount is extracted from each qualifying trade fill.
- **Key fields**: `block_timestamp`, `builder_fee`, `fee_token`, `builder`

### Component B: Daily aggregation

- **Purpose**: The aggregation of extracted fees into daily totals.
- **Logic**: Extracted builder fees are summed and grouped by day using UTC boundaries. Because the fees are natively settled in USDC, no external price feed conversion is applied to the aggregated values.
- **Key fields**: `block_timestamp`, `builder_fee`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value users pay to use a protocol (gross fees, user-paid fees).

Fees

Axiom Perps

Fees

Fees

Chain breakdown