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Photon

# Photon Fees Methodology

## 1. Overview

Photon fees represent the total daily fees collected by the Photon protocol on Solana, measured in USD. This metric captures all native SOL transfers sent to Photon's fee collection address, providing insight into the protocol's fee generation and usage patterns. The calculation identifies fee payments through native SOL transfers to a specific protocol-controlled address, converts the amounts from Solana's base unit to SOL tokens, and applies USD pricing to provide standardized fee measurements.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Solana native transfers**: Native SOL transfer records from the Solana blockchain, containing transfer amounts, recipient addresses, timestamps, and transaction metadata
- **End-of-day price feeds**: SOL token price data used for USD conversion of fee amounts
- **Token metadata**: SOL token information including the canonical mint address used for standardization

## 3. Step-by-step calculation

### Component A: Fee transfer identification
- **Purpose**: Identifies all native SOL transfers sent to Photon's fee collection address
- **Logic**: Filters Solana native transfer records to include only transfers where the recipient address matches the Photon fee collection address `AVUCZyuT35YSuj4RH7fwiyPu82Djn2Hfg7y2ND2XcnZH`. Each qualifying transfer represents a fee payment to the protocol. The filter captures the `block_timestamp`, `transaction_id`, transaction `signer`, and transfer `amount` for each fee payment.
- **Key fields**: `amount` (fee amount in lamports), `to_address` (recipient address used for filtering), `block_timestamp` (transaction timing), `transaction_signer` (fee payer)

### Component B: Unit conversion and aggregation  
- **Purpose**: Converts lamport amounts to SOL tokens and aggregates fees by day
- **Logic**: Transforms transfer amounts from lamports (Solana's base unit) to SOL tokens by dividing each `amount` by 1e9. Groups the converted amounts by day using timestamp truncation to daily boundaries, summing all fee transfers that occurred within each day. Associates each record with the Solana chain, Photon product identifier, and SOL's canonical token address.
- **Key fields**: `fees` (daily sum of SOL amounts), `timestamp` (daily boundary), `token_address` (hardcoded SOL mint address), `chain_id` ('solana')

### Component C: USD conversion
- **Purpose**: Converts daily SOL fee amounts to USD values using market prices
- **Logic**: Applies the currency conversion macro to transform SOL amounts into USD equivalents using end-of-day price feeds. The conversion uses SOL's market price for each respective day to calculate the USD value of fees collected.
- **Key fields**: `fees_usd` (converted USD amounts), maintains all dimensional fields from previous component

### Final aggregation
- **Combining components**: The components flow sequentially - fee identification feeds into unit conversion and aggregation, which feeds into USD conversion
- **Currency conversion**: Uses end-of-day SOL price feeds to convert daily SOL fee totals to USD values at market rates
- **Time aggregation**: Daily boundaries are established through timestamp truncation, with all transfers within a calendar day summed together
- **Final calculation**: Daily fees in USD represent the sum of all SOL transfers to the Photon fee address for each day, converted from lamports to SOL (divided by 1e9), then converted to USD using daily market prices. Missing days are filled with zero values to maintain time series continuity.

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

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

Photon

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