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BullX

# BullX Fees Methodology

## 1. Overview

BullX fees represent the total fees collected by the BullX protocol on the Solana blockchain, measured in USD. This metric tracks native SOL transfers to specific BullX fee collection addresses, providing insight into the protocol's fee generation and revenue. The calculation identifies fee payments by monitoring transfers to known BullX treasury addresses and converts these SOL amounts to USD for standardized reporting.

## 2. Data sources

- **Solana native transfers**: Native SOL transfer events on the Solana blockchain, capturing all transfers between addresses including fee payments
- **End-of-day price feeds**: SOL token price data used for USD conversion of fee amounts
- **Token metadata**: SOL token information including decimal precision and identification

## 3. Step-by-step calculation

### Component A: Raw fee extraction
- **Purpose**: Identifies and extracts fee payments to BullX protocol addresses
- **Logic**: Filters Solana native transfer events for transfers sent to two specific BullX fee collection addresses: `F4hJ3Ee3c5UuaorKAMfELBjYCjiiLH75haZTKqTywRP3` and `9RYJ3qr5eU5xAooqVcbmdeusjcViL5Nkiq7Gske3tiKq`. Excludes any transfers originating from these same addresses to prevent double-counting internal protocol movements. Converts transfer amounts from lamports (Solana's smallest unit) to SOL by dividing by 1 billion (1e9). Each transfer is tagged with the transaction signer address, block timestamp, and transaction ID for traceability.
- **Key fields**: `block_timestamp` for timing, `amount` for fee values in lamports, `to_address` for recipient identification, `transaction_signer` for fee payer identification

### Component B: Daily aggregation
- **Purpose**: Summarizes fee collection on a daily basis
- **Logic**: Groups all fee transfers by day using timestamp truncation to daily boundaries. Sums the total SOL amounts collected across all transfers within each day. Maintains chain identification as 'solana' and uses the SOL token address `So11111111111111111111111111111111111111112` for consistent token reference.
- **Key fields**: `timestamp` truncated to daily grain, `fees` as summed SOL amounts, `chain_id` as 'solana', `token_address` for SOL identification

### Component C: USD conversion
- **Purpose**: Converts SOL fee amounts to USD for standardized reporting
- **Logic**: Applies the convert_to_usd_and_correct_decimals macro to transform daily SOL fee totals into USD equivalents using end-of-day SOL price feeds. The conversion maintains the already-corrected decimal precision since amounts were converted from lamports to SOL in the previous step.
- **Key fields**: Converted `fees` amounts in USD, preserved timestamp and identification fields

### Final aggregation
- **Combining components**: The finalize_metric_fees macro applies standardized schema formatting and implements gap-filling strategy
- **Currency conversion**: SOL amounts converted to USD using end-of-day price feeds applied to daily aggregated totals
- **Time aggregation**: Daily boundaries established through timestamp truncation, with gap filling using zeros for missing days
- **Final calculation**: Total daily fees in USD represent the sum of all SOL transfers to BullX fee addresses, converted at end-of-day exchange rates and formatted according to standard metric schema requirements

*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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