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

Fantom is a smart contract platform for decentralized applications (a blockchain). Fantom was founded by Dr. Ahn Byung Ik and launched in 2019.

FTM holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users (revenue). Fantom’s investors include DHVC, Arrington XRP Capital, 8 decimal Capital, etc.

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# Fantom Fees Methodology

## 1. Overview

The Fantom fees metric measures the total gas fees paid by users for transactions on the Fantom blockchain, expressed in USD. This metric answers the question "How much are users paying in total to use the Fantom network?" by aggregating all transaction gas costs daily and converting them to USD using WFTM token prices.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Fantom transaction records**: Complete transaction data from the Fantom blockchain including gas usage, gas prices, transaction hashes, block information, and addresses
- **End-of-day token price feeds**: Price data for WFTM (Wrapped Fantom) token used for USD conversion of gas fees
- **Token metadata**: Information about WFTM token including decimal precision for proper price conversion
- **Chain availability data**: Fantom network operational status information for data completeness filtering

## 3. Step-by-step calculation

### Component A: Transaction data extraction
- **Purpose**: Extract all Fantom transactions with their gas consumption and pricing information
- **Logic**: Pull all transaction records from Fantom blockchain data, including gas usage (`receipt_gas_used`), effective gas price (`receipt_effective_gas_price`), timestamps, and transaction identifiers. Convert the effective gas price from wei (smallest FTM unit) to FTM by dividing by 10^18. Filter for distinct transactions to avoid duplicates.
- **Key fields**: `block_timestamp` for timing, `receipt_gas_used` for gas consumption, `receipt_effective_gas_price` for gas pricing, `transaction_hash` for transaction identification

### Component B: Daily fee aggregation  
- **Purpose**: Calculate total gas fees paid each day on the Fantom network
- **Logic**: Group all transactions by day using timestamp truncation to day boundaries. For each transaction, multiply the `gas_used` by the `effective_gas_price` (already converted to FTM units) to get the total fee paid. Sum these individual transaction fees by day to get the total daily gas fees paid in FTM.
- **Key fields**: `timestamp` truncated to day for grouping, `fee_amount` as the sum of all gas fees for that day

### Component C: USD conversion and finalization
- **Purpose**: Convert daily FTM fees to USD and apply final metric formatting
- **Logic**: Apply USD conversion using end-of-day WFTM price feeds through the conversion macro. Since FTM and WFTM have equivalent value, WFTM prices are used for the conversion. The macro handles proper decimal correction and price matching by date. Apply the finalization macro with a "fill zeros" strategy to ensure complete daily coverage and proper metric formatting.
- **Key fields**: `fees` converted to USD values, standardized metric metadata including chain identifier and token address

### Final aggregation
- **Combining components**: The calculation flows sequentially from raw transaction data to daily FTM fee totals to USD-converted final metrics
- **Currency conversion**: USD conversion uses end-of-day WFTM token prices, with WFTM serving as a proxy for FTM value since they maintain equivalent pricing
- **Time aggregation**: Daily boundaries are established using timestamp truncation, ensuring consistent 24-hour periods for fee aggregation
- **Final calculation**: Total daily fees in USD = Sum of (gas_used × effective_gas_price in FTM) × WFTM_price_USD for all transactions in each day, with chain availability filtering applied to ensure data completeness

*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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