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).

github

twitter

etherscan

website

Blockchains (L1)

MultiversX

# MultiversX Fees Methodology

## 1. Overview

The Elrond fees metric represents the total fees generated by the Elrond blockchain, calculated as the sum of protocol revenue (developer rewards) and supply-side fees (transaction fees). This metric provides insight into the total economic value captured by the Elrond network from both its reward distribution to developers and direct transaction processing fees. The calculation combines two distinct fee components that are collected at the epoch level and aggregated daily.

## 2. Data sources

The calculation uses the following data sources:

- **Elrond blockchain metrics**: Scraped epoch-level metrics from the Elrond network containing aggregated daily developer rewards and transaction fees
- **End-of-day price feeds**: CoinGecko API price data for EGLD token to USD conversion
- **Elrond epoch data**: Block-level metadata including timestamps, block hashes, and previous checkpoint references for data lineage tracking

All monetary values are initially captured in native EGLD tokens and converted to USD using historical price data.

## 3. Step-by-step calculation

### Component A: Revenue calculation (developer rewards)

- **Purpose**: Calculates protocol revenue from developer rewards distributed by the Elrond network
- **Logic**: Extracts daily developer rewards from scraped Elrond epoch metrics. The process aggregates the `developer_rewards` field by day, applying timestamp truncation to create daily boundaries. Each record includes chain identification as 'elrond', token symbol as 'EGLD', and CoinGecko ID as 'elrond-erd-2' for price lookup. Business classification assigns these rewards to the 'Blockchain' business line with 'blockchains_l1' market sector and 'blockchain' business segment.
- **Key fields**: `daily_developer_rewards` from source metrics, `block_timestamp` for temporal alignment, and blockchain metadata fields for categorization

### Component B: Supply-side fees calculation (transaction fees)

- **Purpose**: Calculates supply-side fees from transaction processing on the Elrond network  
- **Logic**: Extracts daily transaction fees from the same scraped Elrond epoch metrics source. The process aggregates the `transaction_fees` field by day using identical timestamp truncation logic. Records include the same chain, token, and business classification metadata as the revenue component. The aggregated transaction fees represent the direct costs paid by users for transaction processing.
- **Key fields**: `daily_fees` from source metrics (renamed to `transaction_fees`), `block_timestamp` for temporal alignment, and matching blockchain metadata

### Currency conversion

Both components undergo identical USD conversion using the CoinGecko price feed macro. The conversion process looks up end-of-day EGLD prices using the 'elrond-erd-2' CoinGecko identifier and applies the exchange rate to convert native token amounts to USD values. This ensures both revenue and supply-side fees are expressed in comparable USD terms.

### Final aggregation

- **Combining components**: The revenue and supply-side fees components are joined on timestamp and timestamp grain dimensions to ensure temporal alignment. Both components must have matching daily timestamps for the join to succeed.
- **Currency conversion**: All values are converted from native EGLD tokens to USD using end-of-day CoinGecko price feeds before aggregation
- **Time aggregation**: Daily boundaries are established through timestamp truncation to day granularity, with timestamp grain set to 'day'
- **Final calculation**: The total fees metric is calculated by summing the USD-converted revenue (developer rewards) and supply-side fees (transaction fees) for each day. The formula is: `fees = revenue + fees_supply_side`, where both components are already in USD terms. The result undergoes standardization through the finalize metric macro and chain availability filtering before final output.

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

Total value users pay to use a protocol (gross fees, user-paid fees).

MultiversXEGLD

Fees

Fees

Competitive landscape