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 Transaction Fee Average Methodology

## 1. Overview

Transaction Fee Average measures the average cost incurred by users for executing transactions on the near network. This metric includes both the native gas fees required for base-layer transaction processing and additional fees generated by specific products, such as Near Intents. By combining these fee components and dividing by the total number of transactions, the metric provides a comprehensive view of the network's economic cost and pricing efficiency for end-users.

## 2. Data sources

- **Blockchain events**: `token_diff` events from `intents.near` accounts, as well as native transaction and block records on near
- **External data**: End-of-day price feeds for native assets and other assets involved in swap operations

## 3. Step-by-step calculation

### Component A: near protocol gas fee calculation

- **Purpose**: Captures the base-layer gas costs associated with all network activity
- **Logic**: Gas usage is extracted from block chunk data by multiplying the gas used in each chunk by the prevailing gas price. These values are normalized by decimal precision to reflect the native asset amount. The daily total gas fees are then converted to USD using end-of-day price feeds.
- **Key fields**: `chunk_gas_used`, `gas_price`, `block_timestamp`

### Component B: Near Intents swap fee extraction

- **Purpose**: Captures specialized fees collected by the Near Intents product during solver-mediated trades
- **Logic**: Successful swap outcomes are identified by parsing `token_diff` events from `intents.near` accounts. Fee amounts are extracted from the `fees_collected` data array within the event logs. These amounts are normalized by the decimal precision of the respective fee asset and converted to USD using end-of-day price feeds.
- **Key fields**: `fees_collected`, `fee_token`, `execution_status`

### Component C: Network-wide transaction count aggregation

- **Purpose**: Establishes the denominator for the average calculation by identifying total network activity
- **Logic**: Daily transaction volume is determined by counting unique transaction hashes within the native transaction records. Only transactions successfully recorded on the near ledger are included in the count to ensure the average reflects actual settled activity.
- **Key fields**: `transaction_hash`, `block_timestamp`

### Component D: Average fee calculation and final normalization

- **Purpose**: Produces the final average transaction cost
- **Logic**: Total daily fees are calculated by summing the USD values of near protocol gas fees and Near Intents fees. This total fee value is then divided by the distinct count of daily transactions. The resulting value represents the average USD cost per transaction, with daily granularity maintained through UTC day boundaries.
- **Key fields**: `fees_usd`, `transaction_count`

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

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Average transaction fee

Average transaction fee

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