# Based MediaX Fees Methodology

## 1. Overview

Fees measures the total value paid by users to interact with Based MediaX. This metric includes protocol-level fees collected during transactions and royalties generated from NFT-related swaps. These fees represent the total economic value generated by the Based MediaX product and are used to assess the project's ability to monetize its application activity.

## 2. Data sources

- **Blockchain events**: `FeeTransferred` events from `SudoVRFRouter` contracts, `SwapNFTOutPair` events from `LSSVMPairERC721ERC20` contracts, and `createPair` function calls from `SudoFactoryWrapper` contracts, covering Base
- **External data**: End-of-day price feeds for assets and asset metadata

## 3. Step-by-step calculation

### Component A: Protocol fee extraction

- **Purpose**: Capture protocol-level fees generated by Based MediaX activity
- **Logic**: `FeeTransferred` events are parsed from `SudoVRFRouter` contracts. The `amount` field is extracted and associated with the specific pair address identified in the event to track the volume of fees flowing to the protocol.
- **Key fields**: `amount`, `pair`

### Component B: Royalty extraction

- **Purpose**: Capture royalty payments generated from NFT swaps
- **Logic**: `SwapNFTOutPair` events are parsed from `LSSVMPairERC721ERC20` contracts. The `royaltyAmount` is extracted for each swap transaction to account for the value directed to creators as part of the total fee calculation.
- **Key fields**: `royaltyAmount`, `address`

### Component C: Asset identification and mapping

- **Purpose**: Map contract addresses to specific assets for accurate valuation
- **Logic**: `createPair` function calls are parsed from `SudoFactoryWrapper` contracts to establish the relationship between pair addresses and their underlying token addresses. This mapping is joined with the extracted fee and royalty data to identify the specific asset used for payment.
- **Key fields**: `out_pairAddress`, `in__token`

### Component D: USD conversion and aggregation

- **Purpose**: Normalize fee values to USD and aggregate daily totals
- **Logic**: Protocol fees and royalties are combined and normalized by decimal precision. These amounts are multiplied by end-of-day price feeds to determine the USD value. Daily totals are aggregated using UTC day boundaries.
- **Key fields**: `block_timestamp`, `token_address`, `amount`

*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

NFT marketplaces

Liquidity providers deposit funds into BMX and receive trading fees from traders (supply-side fees).

BMX is a non-custodial exchange for spot and perpetual contracts built on Base. BMX has three product lines: Classic, Freestyle, and Based MediaX

BMX tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

Based MediaX

Archived

Fees

Fees

Chain breakdown