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

Mina is a smart contract platform for decentralized applications (a blockchain). Mina was founded by Evan Shapiro & Izaak Meckler and launched in 2017.

Mina’s investors include Pantera Capital, FTX Ventures, Circle Ventures, etc.

github

twitter

discord

website

Blockchains (L1)

Mina Protocol

# Mina Protocol Fees Methodology

## 1. Overview

The Mina fees metric measures the total transaction fees paid by users on the Mina blockchain, aggregated daily and expressed in USD. This metric represents the revenue generated by the Mina network from processing transactions, providing insight into network usage and economic activity. The calculation involves extracting fee data from Mina blockchain transactions, normalizing decimal values, aggregating by day, and converting to USD using market prices.

## 2. Data sources

- **Mina blockchain transaction records**: Raw transaction data from the Mina Protocol containing transaction fees, timestamps, transaction hashes, and sender addresses
- **CoinGecko price feeds**: End-of-day price feeds for MINA token (identified as `mina-protocol`) used for USD conversion
- **Chain availability configuration**: Metadata defining when Mina blockchain data is considered reliable and complete

## 3. Step-by-step calculation

### Component A: Raw transaction processing
- **Purpose**: Extract and normalize transaction fee data from Mina blockchain records
- **Logic**: The system processes raw Mina blockchain transaction data to extract fee information. Each transaction record includes the raw fee amount paid by the sender, transaction timestamp, transaction hash, and sender address. The raw fee values are normalized by dividing by 10^9 to account for MINA token's 9 decimal places, converting from the smallest unit to whole MINA tokens.
- **Key fields**: `block_timestamp` for transaction timing, `transaction_hash` for unique identification, `fee` for raw fee amount, `sender` for the fee payer address

### Component B: Daily fee aggregation  
- **Purpose**: Sum all transaction fees within each calendar day
- **Logic**: Transaction fees are aggregated on a daily basis by truncating timestamps to day boundaries and summing all `fee_amount` values within each day. The aggregation includes metadata classification with chain identifier set to `mina`, market sector as `blockchains_l1`, business segment as `blockchain`, and uses the MINA token's CoinGecko identifier for price conversion.
- **Key fields**: `daily_timestamp` for the day boundary, `fees` for the sum of all transaction fees, `coingecko_id` for price lookup

### Component C: USD conversion
- **Purpose**: Convert daily MINA fee totals to USD values
- **Logic**: The daily MINA fee amounts are converted to USD using end-of-day price data from CoinGecko for the `mina-protocol` token. This conversion uses the `convert_to_usd_cg` macro which matches the daily timestamp with the corresponding end-of-day MINA price and multiplies the fee amount by the USD price.
- **Key fields**: `fees` converted from MINA to USD value, `daily_timestamp` for price matching

### Final aggregation
- **Combining components**: The USD-converted fee amounts represent the final daily fee metric values
- **Currency conversion**: MINA token fees are converted to USD using end-of-day CoinGecko prices for the `mina-protocol` token
- **Time aggregation**: Fees are aggregated using daily boundaries (timestamp truncated to day), with all transactions within a calendar day summed together  
- **Final calculation**: The final metric represents the total USD value of transaction fees paid on the Mina blockchain each day, with gap filling applied to ensure zero values for days with no transactions, and filtered based on chain availability configuration to exclude periods where data may be incomplete or unreliable

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

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

Mina ProtocolMINA

Archived

Fees

Fees

Competitive landscape