Node operators process transactions and receive token incentives. These independently owned high-spec node machines around the world are connected via Internet Computer Protocol (ICP), creating a self-sovereign network not reliant on any cloud services. Advanced cryptography allows any application or service to be run on the network in a decentralized manner via smart contracts.

The Internet Computer is a decentralized cloud blockchain, where apps can be built fully onchain, using AI, or by coding. Try caffeine.ai & icp.ninja.

ICP tokenholders own and govern the protocol. They currently take (burn) all of the total transaction fees paid by users (revenue). ICP Holders can stake their ICP on the Network Nervous System (NNS), an advanced fully on-chain DAO that facilitates liquid democracy. Staking ICP allows users to submit proposals, vote on proposals, and earn rewards for their participation in governance. Internet Computer's investors include Polychain, Scalar Capital, Amino Capital, etc.

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# Internet Computer Total ICP burned Methodology

## 1. Overview

The total ICP burned metric measures the cumulative amount of Internet Computer Protocol (ICP) tokens that have been permanently removed from circulation through the network's burning mechanism. This metric tracks the protocol's deflationary tokenomics by aggregating all ICP tokens burned over time, providing insight into the network's token supply reduction. The calculation processes daily burn statistics from the Internet Computer network and converts them to a standardized format with proper decimal handling.

## 2. Data sources

The calculation relies on the following data sources:
- **Internet Computer protocol statistics**: Daily burn data collected from the Internet Computer network's native statistics endpoints
- **External scraper service**: Automated data collection system that monitors Internet Computer protocol metrics and stores daily statistics in JSON format
- **Daily burn records**: Time-series data containing cumulative ICP token burn amounts with timestamp information

## 3. Step-by-step calculation

### Component A: Raw data extraction
- **Purpose**: Extract and parse daily ICP burn statistics from JSON data structure
- **Logic**: The system processes JSON data containing nested daily statistics arrays. Each daily statistic record includes a `day` timestamp field and an `icp_burned_total` field representing the cumulative amount of ICP tokens burned. The data extraction handles the nested JSON structure by unnesting the `daily_stats` array and casting the relevant fields to appropriate data types (timestamp and numeric)
- **Key fields**: `day` timestamp converted to timestamp format, `icp_burned_total` amount as big numeric value, `inserted_at` timestamp for data quality tracking

### Component B: Data quality and deduplication
- **Purpose**: Ensure data quality by handling duplicate records and selecting the most recent data for each day
- **Logic**: The system applies row numbering to handle potential duplicate records for the same date. Records are partitioned by timestamp and ordered by the insertion timestamp in descending order. Only the most recently inserted record for each day is selected, ensuring that any updates or corrections to the burn data are properly handled
- **Key fields**: Row numbering based on `inserted_at` timestamp, filtering to select `row_number = 1` for each date

### Component C: Decimal conversion and standardization
- **Purpose**: Convert raw ICP amounts to proper decimal representation and apply business metadata
- **Logic**: The raw ICP amounts are converted from their integer representation to decimal format by dividing by 10^8, since ICP tokens use 8 decimal places. The system also applies standardized business metadata including chain identifier, business line classification, market sector, and version information
- **Key fields**: `amount` divided by 10^8 for decimal conversion, standardized metadata fields including `chain_id`, `business_line`, and `market_sector_id`

### Final aggregation
- **Combining components**: The processed data flows through a finalization macro that validates the metric schema and applies data consistency rules
- **Currency conversion**: No currency conversion is applied as the metric tracks ICP tokens in their native denomination
- **Time aggregation**: Data is aggregated at daily granularity with forward-fill strategy applied to ensure no gaps in the time series
- **Final calculation**: The final metric value represents the cumulative total ICP tokens burned, expressed in standard decimal format with proper business metadata and gap-filling applied

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

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Total ICP burned

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