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Blockchains (L2)

peaq

# peaq Average transaction fee Methodology

## 1. Overview

The average transaction fee metric measures the mean cost per transaction on the Peaq network, expressed in USD. This metric is calculated by dividing the total daily transaction fees by the total daily transaction count, providing insight into the cost efficiency and network usage patterns of the Peaq blockchain.

## 2. Data sources

The calculation relies on several key data sources:
- **Peaq blockchain events**: Specifically `TransactionFeesDistributed` events from the `blockReward` pallet that record fee distributions on-chain
- **Peaq substrate extrinsics**: Native blockchain transaction records containing extrinsic IDs and timestamps
- **Peaq EVM transactions**: Ethereum Virtual Machine transactions identified through `Executed` events from the `ethereum` pallet
- **External price data**: End-of-day PEAQ token price feeds from CoinGecko for USD conversion

## 3. Step-by-step calculation

### Component A: Daily fee aggregation
- **Purpose**: Calculate total transaction fees in USD for each day
- **Logic**: The system identifies fee distribution events on the Peaq blockchain by filtering for `TransactionFeesDistributed` events from the `blockReward` pallet. The base fee amount is extracted from the first element of the event data array, then converted from wei units to PEAQ tokens by dividing by 1e18. These PEAQ-denominated fees are aggregated daily by timestamp truncation, then converted to USD using end-of-day PEAQ token prices from CoinGecko
- **Key fields**: `block_timestamp` for daily grouping, `amount` for the base fee value, and `event_data` containing the raw fee amount

### Component B: Daily transaction counting
- **Purpose**: Count the total number of unique transactions per day across both native and EVM layers
- **Logic**: The system counts transactions from two sources on the Peaq network. Native substrate transactions are identified from the extrinsics table using their `extrinsic_id`. EVM transactions are identified from events where the `event_pallet` is 'ethereum' and `event_method` is 'Executed'. For EVM transactions, a unique identifier is created by concatenating the `extrinsic_id` with the `event_index` to ensure proper counting. Transaction counts are aggregated daily using distinct counting to avoid duplicates
- **Key fields**: `extrinsic_id` for native transactions, combined `extrinsic_id` and `event_index` for EVM transactions, and `block_timestamp` for daily grouping

### Final aggregation
- **Combining components**: The daily fee totals and daily transaction counts are joined on the timestamp field to align the data by day
- **Currency conversion**: All fees are converted to USD using end-of-day PEAQ token prices, ensuring consistent valuation timing
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation to the day level
- **Final calculation**: The average transaction fee is computed by dividing the total daily fees in USD by the total daily transaction count using safe division to handle days with zero transactions. Missing data is filled with zeros through the finalization process to ensure complete time series coverage

*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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