Collators aggregate parachain transactions block candidates and producing state transition proofs for validators based on those blocks.

Pendulum is a decentralized blockchain for cross-border payments and traditional finance infrastructure powered by Polkadot Relay chain.

PEN holders own and govern the protocol. Pendulum is a subsidiary of SatoshiPay. SatoshiPay's investors include Blue Star Capital, KR1 plc, Stellar Development Foundation, etc.

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Blockchains (L2)

Pendulum

# Pendulum Average transaction fee Methodology

## 1. Overview

Average transaction fee measures the mean cost per transaction on the Pendulum blockchain, expressed in USD. This metric helps assess the cost efficiency of the network by dividing total daily transaction fees by the number of transactions executed that day. It provides insight into network congestion, fee market dynamics, and accessibility for users.

## 2. Data sources

- **Pendulum blockchain events**: Parsed `TransactionFeePaid` events containing fee amounts and tips paid for each transaction
- **Pendulum transaction records**: Extrinsic (transaction) records from the Pendulum blockchain containing unique transaction identifiers
- **External price data**: End-of-day price feeds from CoinGecko for the Pendulum Chain token to enable USD conversion

## 3. Step-by-step calculation

### Component A: Fee data extraction and processing
- **Purpose**: Extracts and processes all transaction fees paid on the Pendulum network
- **Logic**: Retrieves `TransactionFeePaid` events from Pendulum blockchain events. Each event contains `amount` and `tip` fields in the event data array. The raw values are divided by 1e12 to adjust for the token's decimal precision. Daily totals are calculated by summing both amount and tip components for each day.
- **Key fields**: `block_timestamp` for timing, `amount` for base transaction fee, `tip` for additional fee paid to validators, `extrinsic_hash` for transaction identification

### Component B: Fee USD conversion
- **Purpose**: Converts native Pendulum token fees to USD values for standardized reporting
- **Logic**: Takes the daily aggregated fees and applies USD conversion using end-of-day price feeds from CoinGecko for the 'pendulum-chain' token. The conversion uses the price corresponding to each day's timestamp.
- **Key fields**: `fees` (daily total in native tokens), `timestamp` for price matching, converted `fees` in USD

### Component C: Transaction count calculation
- **Purpose**: Counts the total number of unique transactions executed daily on Pendulum
- **Logic**: Processes Pendulum extrinsics data and counts distinct `extrinsic_id` values for each day. Transactions are grouped by daily timestamp boundaries and categorized under the 'blockchains_l2' market sector and 'blockchain' business segment.
- **Key fields**: `block_timestamp` for daily grouping, `extrinsic_id` for unique transaction identification, `transaction_count` as the daily total

### Final aggregation
- **Combining components**: Daily fee totals in USD are joined with daily transaction counts using the timestamp as the common key. Both datasets must have matching timestamps for the calculation to proceed.
- **Currency conversion**: All fees are converted to USD using end-of-day CoinGecko price feeds before the average calculation
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation to the day level
- **Final calculation**: Average transaction fee is calculated by dividing total daily fees (in USD) by total daily transaction count using safe division to handle days with zero transactions. The result represents the mean cost per transaction in USD for each day.

*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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