Validators process transactions and receive fees from users (supply-side fees).

BNB Chain is a smart contract platform for decentralized applications (a blockchain). BNB Chain was founded by Changpeng Zhao and launched in 2020.

BNB holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users (revenue).

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# BNB Chain Median transaction fee Methodology

## 1. Overview

The BSC transaction fee median metric measures the median transaction fee paid by users on the BNB Smart Chain (BSC) on a daily basis. This metric provides insight into typical transaction costs experienced by BSC users, filtering out extreme values that could skew average calculations. The metric captures both regular gas fees and blob gas fees (when applicable), converts them to USD for standardized reporting, and calculates the 50th percentile (median) value across all transactions each day.

## 2. Data sources

- **BSC blockchain transaction records**: Complete transaction data from BNB Smart Chain including gas usage metrics, gas prices, and transaction metadata
- **End-of-day price feeds**: WBNB token price data used for converting BNB-denominated fees to USD values
- **Chain availability configuration**: Data indicating when BSC blockchain data is considered reliable and complete for metric calculations

## 3. Step-by-step calculation

### Component A: Transaction data extraction
- **Purpose**: Gather all BSC transactions with their gas usage and pricing information
- **Logic**: Extract transaction records from BSC blockchain data, focusing on transactions with gas usage information. Each transaction includes fields for `gas_used`, `effective_gas_price`, `blob_gas_used`, and `blob_gas_price`. The effective gas price represents the actual price paid per unit of gas, while blob gas represents additional fees for data availability (when applicable). Gas prices are converted from wei to BNB by dividing by 10^18 to handle decimal precision correctly.
- **Key fields**: `block_timestamp` for daily aggregation, `gas_used` and `effective_gas_price` for regular transaction fees, `blob_gas_used` and `blob_gas_price` for additional data fees, and WBNB token address for price conversion reference

### Component B: Individual transaction fee calculation  
- **Purpose**: Calculate the total fee paid for each individual transaction
- **Logic**: For each transaction, compute the total fee as the sum of regular gas fees and blob gas fees. Regular gas fee equals `gas_used` multiplied by `effective_gas_price`. Blob gas fee equals `blob_gas_used` multiplied by `blob_gas_price`. Handle missing or null values by treating them as zero to ensure all transactions are included in the calculation. This produces a single fee amount per transaction denominated in BNB.
- **Key fields**: `fee_amount` representing the total transaction cost in BNB, `block_timestamp` for temporal grouping

### Component C: Daily median calculation
- **Purpose**: Determine the median transaction fee for each day
- **Logic**: Group all transactions by day using timestamp truncation to daily boundaries. For each day, collect all transaction fee amounts and calculate the median using approximate quantiles function with 100 buckets, selecting the 50th percentile. This approach provides the median while handling large datasets efficiently. The median represents the typical transaction fee, reducing the impact of outlier transactions.
- **Key fields**: `timestamp` truncated to day granularity, `transaction_fee_median` as the computed median fee value in BNB

### Final aggregation
- **Combining components**: The daily median fees flow directly from the previous step without additional combining, as each day produces a single median value
- **Currency conversion**: Convert BNB-denominated median fees to USD using end-of-day WBNB price feeds. The conversion uses the WBNB token address `0xbb4cdb9cbd36b01bd1cbaebf2de08d9173bc095c` to reference the appropriate price data. This ensures consistent USD valuation across different time periods.
- **Time aggregation**: Daily boundaries are established using timestamp truncation, ensuring consistent 24-hour periods for median calculations
- **Final calculation**: The final metric value represents the USD-equivalent median transaction fee for BSC on each day. Missing days are filled with zero values to maintain continuous time series data. Chain availability filtering ensures only days with reliable BSC data are included in the final output.

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

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