Validators process transactions and receive validator rewards (supply-side fees).

MultiversX is a smart contract platform for decentralized applications (a blockchain). MultiversX was founded by Beniamin Mincu and launched in 2018.

EGLD tokenholders own and govern the protocol. They currently take a cut of the transaction fees paid and give the cut to smart contract deployers (revenue).

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MultiversX

# MultiversX Average fees per user (AFPU) Methodology

## 1. Overview

The Average Fees Per User (AFPU) metric measures the average amount of fees generated per daily active user on the Elrond network. This metric is calculated by dividing the total daily fees (combining both protocol revenue and transaction fees) by the daily active user count. AFPU provides insight into the revenue efficiency and user monetization of the Elrond blockchain ecosystem.

## 2. Data sources

The AFPU calculation relies on three primary data sources:
- **Elrond epoch metrics**: Protocol-generated epoch-level data containing daily developer rewards and transaction fees in native EGLD tokens
- **Elrond active users data**: Daily counts of unique transaction senders on the Elrond network
- **End-of-day price feeds**: CoinGecko price data for EGLD token to enable USD conversion

## 3. Step-by-step calculation

### Component A: Developer rewards (revenue)
- **Purpose**: Captures protocol revenue from developer reward distributions
- **Logic**: Extracts epoch-level developer rewards from Elrond scraper data, aggregates the `developer_rewards` amounts by daily timestamp using day-level truncation, and converts EGLD amounts to USD using CoinGecko end-of-day prices. The data includes standardized metadata fields like chain identifier (`elrond`), token symbol (`EGLD`), and CoinGecko ID (`elrond-erd-2`).
- **Key fields**: `daily_developer_rewards` (native EGLD amounts), `block_timestamp` (epoch timing), `developer_rewards` (USD-converted amounts)

### Component B: Transaction fees (supply-side fees)
- **Purpose**: Captures user-paid transaction fees on the network
- **Logic**: Extracts epoch-level transaction fees from Elrond scraper data, aggregates the `transaction_fees` amounts by daily timestamp using day-level truncation, and converts EGLD amounts to USD using CoinGecko end-of-day prices. Similar to developer rewards, includes standardized chain and token metadata.
- **Key fields**: `daily_fees` (native EGLD amounts), `block_timestamp` (epoch timing), `transaction_fees` (USD-converted amounts)

### Component C: Daily active users
- **Purpose**: Counts unique users interacting with the network each day
- **Logic**: Extracts daily transaction sender counts from Elrond scraper active users data. The data represents unique addresses that initiated transactions on a given day. Creates dimensional breakdowns by project tag, chain level, and user type to support various aggregation scenarios. The user type is classified as "Transaction sender".
- **Key fields**: `timestamp` (daily boundary), `value` (transaction sender count), `transaction_senders` (processed user count)

### Component D: Total fees calculation
- **Purpose**: Combines all fee sources into a single daily total
- **Logic**: Joins the developer rewards and transaction fees components by timestamp and timestamp grain, then sums the USD amounts to create total daily fees. This represents the complete fee revenue generated by the Elrond network each day.
- **Key fields**: `revenue` (developer rewards in USD), `fees_supply_side` (transaction fees in USD), `fees` (combined total)

### Final aggregation
- **Combining components**: The total daily fees and daily active users are joined by timestamp to ensure matching daily periods
- **Currency conversion**: All EGLD amounts are converted to USD using CoinGecko end-of-day prices for consistent monetary calculations
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation to day level
- **Final calculation**: AFPU is calculated by dividing the total daily fees by the daily active user count, producing an average fee amount per user in USD. Missing days are filled with zeros using the fill_zeros strategy to maintain complete time series data.

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

MultiversXEGLD

Average fees per user (AFPU)

Average fees per user (AFPU)

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