# Mantra EVM Revenue Methodology

## 1. Overview

The portion of transaction fees retained by the protocol on Mantra EVM is measured by Revenue. This metric represents the surplus value collected from network transactions after accounting for the fees distributed to the supply-side participants (validators). Revenue is derived from the difference between the total gas fees paid by users and the base fees generated during transaction execution. All values are denominated in the native gas asset and converted to USD using end-of-day price feeds.

## 2. Data sources

- **Blockchain events**: Transaction records and block metadata from Mantra EVM
- **External data**: End-of-day price feeds for the native gas asset

## 3. Step-by-step calculation

### Component A: Total transaction fee extraction

- **Purpose**: Calculate the total value paid by users for transaction execution on Mantra EVM.
- **Logic**: Transaction records are parsed to extract the amount of gas used and the effective gas price for every transaction. The total gas fee is calculated by multiplying the gas consumed by the effective gas price. These amounts are then aggregated at a daily granularity.
- **Key fields**: `gas_used`, `effective_gas_price`

### Component B: Supply-side fee identification

- **Purpose**: Determine the share of fees allocated to network validators as supply-side compensation.
- **Logic**: Block metadata is analyzed to identify the base fee per gas unit for each block. Supply-side fees are calculated by multiplying the gas used in each transaction by the base fee per gas of the corresponding block. These fees are classified as supply-side participant compensation rather than protocol revenue.
- **Key fields**: `gas_used`, `base_fee_per_gas`

### Component C: Protocol revenue calculation

- **Purpose**: Identify the net revenue retained by the protocol.
- **Logic**: Revenue is calculated by subtracting the supply-side fees (base fees) from the total transaction fees. This calculation effectively isolates the priority fees (tips) as the protocol's retained portion.
- **Key fields**: `fees`, `fees_supply_side`

### Component D: USD conversion and aggregation

- **Purpose**: Normalize calculated revenue values to USD for cross-asset comparison.
- **Logic**: Revenue amounts are normalized by decimal precision and multiplied by the end-of-day price of the native gas asset. The data is aggregated into daily intervals using UTC day boundaries.
- **Key fields**: `block_timestamp`, `revenue`, `price_usd`

*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.

Revenue

Blockchains (L1)

Mantra is a Decentralized Exchange (DEX), initially built on Ethereum and upgraded to the Mantra Chain, a blockchain built on the Cosmos SDK.

Mantra EVM

Archived

Revenue

Revenue

Chain breakdown