# BMX Freestyle Fees Methodology

## 1. Overview

Fees measures the total value paid by users to execute trades on BMX Freestyle. This metric represents the economic value generated by the platform's perpetual trading activity and is primarily composed of trading commissions paid when opening positions. These fees are captured on-chain and normalized to USD to provide a standardized view of the protocol's revenue generation capabilities.

## 2. Data sources

- **Blockchain events**: `SendQuote` and `RequestToClosePosition` events from `SymmioDiamond` contracts, and `Call` events from `MultiAccount` contracts on Base
- **External data**: End-of-day price feeds for asset valuation and normalization

## 3. Step-by-step calculation

### Component A: BMX Freestyle trade identification

- **Purpose**: Identify and extract valid trading activities specifically associated with the BMX Freestyle product.
- **Logic**: `SendQuote` and `RequestToClosePosition` events are parsed from `SymmioDiamond` contracts. These events are joined with `Call` events from `MultiAccount` contracts using the transaction hash and timestamp to ensure only active, non-removed trades are included. This filtering process isolates BMX Freestyle activity from other interactions within the broader ecosystem.
- **Key fields**: `transaction_hash`, `block_timestamp`, `party_a` (user address), and `quote_id`.

### Component B: Fee extraction and calculation

- **Purpose**: Calculate the specific fee amount generated by each identified trade.
- **Logic**: For `SendQuote` events, the trade amount is calculated by multiplying the quantity by the market price. The fee is then determined by applying the trading fee rate to this total amount. For `RequestToClosePosition` events, the trade amount is calculated using the quantity to close and the close price, though the fee rate for these specific events is currently treated as zero. All raw values are normalized by decimal precision.
- **Key fields**: `quantity`, `market_price`, `trading_fee`, `quantity_to_close`, and `close_price`.

### Component C: Normalization and aggregation

- **Purpose**: Convert calculated fees into a standardized USD format and aggregate them by time.
- **Logic**: Calculated fee amounts are multiplied by end-of-day price feeds to determine their USD value. These values are then aggregated on a daily basis using UTC day boundaries. The final output is processed through a zero-filling strategy to ensure a continuous time series for the metric.
- **Key fields**: `fees` (USD denominated), `timestamp`, and `chain_id`.

*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

Derivative exchanges

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).

BMX Freestyle

Archived

Fees

Fees

Chain breakdown