Blast batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense). Bridge depositors deposit ETH or stablecoins to Blast and receive a yield from ETH staking or T-bill strategies.

Blast is an L2 smart contract platform for decentralized applications on Ethereum. Blast has an inherent yield generation mechanism, coming from ETH staking and RWA protocols. Blast was founded by Pacman and launched in 2023.

Blast team and investors currently own and govern the protocol. Blast's investors include Paradigm, Standard Crypto, Santiago, etc.

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Blast

# Blast Fees Methodology

## 1. Overview

The Blast fees metric measures the total daily transaction fees collected by the Blast blockchain network. This includes both Layer 2 (L2) execution fees paid for transaction processing on Blast and Layer 1 (L1) data availability fees paid to Ethereum for transaction data storage. The metric represents the total cost users pay to transact on the Blast network, converted to USD using end-of-day ETH prices.

## 2. Data sources

- **Blast blockchain transaction records**: Raw transaction data from the Blast network containing gas usage, gas prices, and L1 fee information
- **End-of-day ETH price feeds**: Daily ETH/USD exchange rates used for currency conversion
- **Token metadata**: WETH contract information for proper token identification

## 3. Step-by-step calculation

### Component A: Transaction fee extraction
- **Purpose**: Extract gas and fee information from individual Blast transactions
- **Logic**: Pull transaction records from Blast blockchain data, focusing on gas-related fields including `gas_used`, `effective_gas_price`, `l1_gas_used`, `l1_gas_price`, `l1_fee_scalar`, and `l1_fee`. Convert the `effective_gas_price` from wei to ETH by dividing by 10^18. Associate all transactions with the WETH token address since Blast fees are paid in ETH.
- **Key fields**: `block_timestamp` for time aggregation, `gas_used` for L2 fee calculation, `effective_gas_price` for L2 pricing, L1-related fields for data availability costs

### Component B: Daily fee aggregation  
- **Purpose**: Calculate total daily fees by combining L2 execution fees and L1 data availability fees
- **Logic**: Group transactions by day using timestamp truncation. Calculate L2 fees by multiplying `gas_used` by `effective_gas_price` for each transaction, then sum daily. For L1 fees, use either the direct `l1_fee` field (converted from wei to ETH by dividing by 10^18) or calculate using the formula `l1_gas_used × l1_gas_price × l1_fee_scalar / 10^18`. Use fallback logic to select the appropriate L1 fee value. Sum both L2 and L1 components to get total daily fees.
- **Key fields**: `fee_amount` (L2 fees), `l1_fee_amount` (L1 fees), `timestamp` (daily), `token_address` (WETH)

### Final aggregation
- **Combining components**: Add L2 execution fees and L1 data availability fees together to create total daily fees for the Blast network
- **Currency conversion**: Convert ETH-denominated fees to USD using end-of-day ETH price feeds, initially using 'ethereum' as the chain identifier for price lookup purposes
- **Chain recasting**: Change the chain identifier from 'ethereum' to 'blast' to properly categorize the fees as belonging to the Blast network while maintaining the ETH price reference
- **Final calculation**: The metric represents the sum of all transaction fees paid on Blast per day, expressed in USD, including both L2 execution costs and L1 data availability costs that are characteristic of Optimistic Rollup architectures

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

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

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