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

NEAR Protocol is a smart contract platform for decentralized applications (a blockchain). NEAR Protocol was founded by Alexander Skidanov & Ilya Polosukhin and launched in 2017.

NEAR holders own and govern the protocol. They currently take (burn) all of the total transaction fees paid by users (revenue). NEAR Protocol's investors include a16z, Pantera Capital, Libertus, etc.

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NEAR Protocol

# near Afpu Methodology

## 1. Overview

Afpu (Average Fees Per User) measures the average amount of fees generated by each unique active user on Near. This metric provides insight into the average economic contribution per user and the overall monetization efficiency of the ecosystem. The metric accounts for both network-level transaction costs on Near Protocol and infrastructure-specific fees collected through Near Intents. Afpu is calculated by dividing the total fees (inclusive of gas and solver fees) by the total number of unique active users (daily).

## 2. Data sources

- **Fees**: Derived from the Fees metric
- **Active users (daily)**: Derived from the Active users (daily) metric
- **Blockchain events**: `token_diff` and `transfer` events from `intents.near` contracts, plus transaction and block chunk data covering Near
- **External data**: End-of-day price feeds for assets and asset metadata

## 3. Step-by-step calculation

### Component A: Near Protocol fee calculation

- **Purpose**: Captures network-level transaction costs paid in the native gas asset.
- **Logic**: Gas usage and gas prices are extracted from Near block chunks. Fees are calculated by multiplying the gas used by the prevailing gas price. All amounts are normalized by decimal precision and converted to USD using end-of-day price feeds for the native asset.

### Component B: Near Intents fee extraction

- **Purpose**: Captures fees collected by solvers and frontends within the Near Intents ecosystem.
- **Logic**: Logs from the `intents.near` account are parsed to identify `token_diff` events. Fee tokens and raw fee amounts are extracted from the event data. These amounts are adjusted for decimal precision and converted to USD using end-of-day asset prices.

### Component C: Active user identification

- **Purpose**: Identifies and deduplicates unique participants across the ecosystem to establish the denominator for the calculation.
- **Logic**: Unique user addresses are identified from Near transaction data and Near Intents event logs. For standard transactions, the signer account ID is extracted. For meta-transactions utilizing the `DELEGATE_ACTION` action kind, the receiver account ID is captured. For Near Intents, user addresses are extracted from the `account_id` and `receiver_id` fields within `token_diff` and `transfer` events. Distinct addresses are aggregated daily to determine the count of active users (daily).

### Component D: Average fees per user calculation

- **Purpose**: Generates the final Afpu metric.
- **Logic**: Total daily fees, representing the sum of Near Protocol gas fees and Near Intents fees, are divided by the count of unique active users (daily). For days with no recorded activity, values are zero-filled. The final results are aggregated at the project level.

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

NEAR ProtocolNEAR

Average fees per user (AFPU)

Average fees per user (AFPU)

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