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

Injective is a smart contract platform for decentralized finance applications (a blockchain) and an orderbook exchange protocol. Injective was founded by Eric Chen, Albert Chon etc. and launched in 2020. Note that this dashboard only tracks Injective's blockchain business.

INJ holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users (revenue) via Burn Auctions. Injective's investors include Binance, Jump Crypto, Mark Cuban, etc.

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Injective

# Injective Fees Methodology

## 1. Overview

Injective fees represent the total fees paid by users across both the Injective EVM and Injective Cosmos networks, measured in USD. This metric captures the complete fee structure of Injective's dual-architecture blockchain, combining EVM-compatible gas fees (using the EIP-1559 model) with traditional Cosmos transaction fees. The metric provides insight into user activity and network utilization across both execution environments within the Injective ecosystem.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Injective EVM transaction records**: Complete transaction data including gas usage, effective gas price, sender and recipient addresses, and block references
- **Injective EVM block data**: Block-level information containing base fee per gas values required for EIP-1559 fee calculations
- **Injective Cosmos transaction records**: Transaction data from the Cosmos side including transaction fees in string format with currency denomination
- **End-of-day price feeds**: CoinGecko price data for INJ token to enable USD conversion of native token fees

## 3. Step-by-step calculation

### Component A: Injective EVM gas fees
- **Purpose**: Calculate daily gas fees from Injective's EVM-compatible execution environment using the EIP-1559 fee model
- **Logic**: Transaction data is joined with block data to obtain `base_fee_per_gas` values. For each transaction, the base fee is calculated by multiplying `gas_used` by `base_fee_per_gas`, while the priority fee is calculated by multiplying `gas_used` by the difference between `effective_gas_price` and `base_fee_per_gas`. Both values are converted from wei to INJ by dividing by 1e18. Daily aggregation sums both base fees and priority fees separately across all transactions
- **Key fields**: `gas_used`, `effective_gas_price`, `base_fee_per_gas`, `block_timestamp`, `base_fee`, `priority_fee`

### Component B: Injective cosmos transaction fees
- **Purpose**: Calculate daily transaction fees from Injective's Cosmos-based execution environment
- **Logic**: Transaction fee data is parsed using regex patterns to extract numeric amounts and currency units from the `transaction_fee` field. The numeric portion is converted from the smallest denomination to INJ by dividing by 1e18. Daily aggregation sums all transaction fees, counts total transactions, and calculates average fees per transaction
- **Key fields**: `transaction_fee`, `block_timestamp`, `total_fees`, `transaction_count`, `avg_fee`

### Currency conversion
- **USD conversion methodology**: Both EVM and Cosmos fee components are converted from native INJ tokens to USD using end-of-day price feeds from CoinGecko. The conversion uses a left join with price data, applying a coalesce function that defaults to zero for any missing price data

### Final aggregation
- **Combining components**: The total fee in the main model combines both EVM components by summing base fees and priority fees, then both EVM total and Cosmos fees are combined using a union operation to create a unified fee dataset
- **Time aggregation**: All calculations use daily time boundaries with timestamp truncation to day level for consistent aggregation periods
- **Final calculation**: The final metric value represents the USD equivalent of all fees paid across both Injective EVM and Cosmos networks, standardized through the finalize_metric_fees macro which applies consistent formatting and metadata

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

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

InjectiveINJ

Fees

Fees

Competitive landscape

Chain breakdown