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

Filecoin is a smart contract platform and a data storage network (a blockchain). Filecoin was founded by Juan Benet and launched in 2014.

FIL holders own and govern the protocol. They currently take a cut of the total base fees, miner tips and overestimation fees paid by users and a cut of provecommit batch fees, precommit batch fees and penalty fees paid by miners (revenue). Filecoin’s investors include IOSG Ventures, Winkelvoss Capital, a16z, etc.

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Filecoin

# Filecoin Revenue Methodology

## 1. Overview

Filecoin revenue represents the total fees burned or paid to the protocol, excluding miner tips. This metric captures the protocol's revenue from various fee mechanisms including base fees, overestimation fees, batch processing fees, and penalty fees. The calculation aggregates daily fee data from the Filecoin blockchain and converts amounts to USD for standardized reporting.

## 2. Data sources

The calculation uses the following data sources:

- **Filecoin blockchain fee data**: Raw fee data extracted directly from the Filecoin blockchain via a dedicated scraper, containing daily aggregated amounts for different fee types
- **Token price feeds**: End-of-day price feeds from CoinGecko for FIL token USD conversion
- **Chain availability data**: Operational status data to filter out periods when the Filecoin network was not available

## 3. Step-by-step calculation

### Component A: Raw fee data extraction
- **Purpose**: Extract and standardize different types of fees from Filecoin blockchain data
- **Logic**: The scraper provides daily aggregated fee data across multiple fee types. Each fee type is transformed into individual records with standardized fields including daily timestamp, chain identifier, fee type, and amount in FIL tokens. The fee types include `base_fee_burn` (base fees), `overestimation_burn` (overestimation fees), `precommit_batch_fee_burn` (precommit batch processing fees), `provecommit_batch_fee_burn` (provecommit batch processing fees), and `penalty_fee_burn` (penalty fees), plus `miner_tip` (miner tips)
- **Key fields**: `daily_timestamp`, `chain` (set to 'filecoin'), `fee_type` (the specific fee category), `token_symbol` (FIL), `coingecko_id` (filecoin), and `fee_amount` (amount in FIL tokens)

### Component B: Revenue filtering
- **Purpose**: Identify fees that represent protocol revenue versus miner compensation
- **Logic**: All fee types are included as protocol revenue except `miner_tip`, which represents direct payments to miners rather than protocol revenue. The filtered dataset includes only fees that are burned or paid to the protocol itself
- **Key fields**: All fields from Component A are retained, with `fee_amount` renamed to `revenue` for clarity

### Component C: USD conversion
- **Purpose**: Convert FIL amounts to USD for standardized reporting
- **Logic**: Revenue amounts in FIL tokens are converted to USD using end-of-day price feeds from CoinGecko. The conversion uses the FIL/USD exchange rate for the corresponding date
- **Key fields**: `revenue` amounts are converted from FIL to USD while maintaining all other fields

### Final aggregation
- **Combining components**: All revenue records (excluding miner tips) are aggregated by day, with each fee type contributing to the total daily revenue
- **Currency conversion**: USD conversion is applied using end-of-day CoinGecko prices for the FIL token
- **Time aggregation**: Data is aggregated to daily boundaries using the daily timestamp from the source data
- **Final calculation**: The final revenue metric represents the sum of all protocol fees (base fees, overestimation fees, batch processing fees, and penalty fees) in USD, excluding miner tips. Days with no data are filled with zero values to ensure complete time series coverage, and periods when the Filecoin network was not operational are excluded from the final dataset

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

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

FilecoinFIL

Revenue

Revenue

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