Validators process transactions and receive fees from users (supply-side fees).

Ronin is a smart contract platform for decentralized applications (a blockchain). Ronin was founded by Sky Mavis and launched in 2021.

RON holders own and govern the protocol. They currently don’t take a cut of the total transaction fees paid by users (revenue). Sky Mavis' investors include a16z, Binance, Animoca Brands, etc.

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Blockchains (L1)

Ronin

# Ronin Fees Methodology

## 1. Overview

The Ronin fees metric measures the total gas fees paid by users on the Ronin blockchain, expressed in USD. This metric captures the cost of executing transactions on Ronin's Layer 1 blockchain, providing insight into network usage and the economic value flowing to validators. The calculation involves extracting all transaction data from the Ronin blockchain, computing gas fees in native RON tokens, and converting to USD using end-of-day price feeds.

## 2. Data sources

The calculation relies on these underlying data sources:

- **Ronin blockchain transaction records**: Complete transaction data from the Ronin blockchain including gas usage metrics, effective gas prices, block timestamps, transaction hashes, and participant addresses
- **End-of-day token price feeds**: Daily RON token prices sourced from CoinGecko for USD conversion
- **Token metadata**: RON token contract address (`0xe514d9deb7966c8be0ca922de8a064264ea6bcd4`) used for price lookups and identification

## 3. Step-by-step calculation

### Component A: Transaction data extraction
- **Purpose**: Extract and standardize all Ronin blockchain transaction data needed for gas fee calculations
- **Logic**: Pull all transaction records from Ronin blockchain data, including block timestamps, transaction hashes, gas usage amounts, and effective gas prices. Convert the `effective_gas_price` from wei units to RON tokens by dividing by 10^18. Associate each transaction with the RON token contract address for later price conversion.
- **Key fields**: `block_timestamp`, `gas_used`, `effective_gas_price` (converted from wei to RON), `transaction_hash`, `from_address`, `to_address`

### Component B: Gas fee calculation
- **Purpose**: Calculate the actual gas fee paid for each transaction in RON tokens
- **Logic**: For each transaction, multiply the `gas_used` (amount of gas consumed) by the `effective_gas_price` (price per unit of gas in RON) to get the total gas fee paid in native RON tokens. This represents the actual cost incurred by the transaction sender.
- **Key fields**: `gas_fee` (calculated as `gas_used` × `effective_gas_price`), along with transaction identifiers and timestamps

### Component C: Daily aggregation and USD conversion
- **Purpose**: Aggregate gas fees by day and convert from RON to USD
- **Logic**: Group all transactions by day using timestamp truncation to daily boundaries. Sum all gas fees paid within each day to get total daily gas fees in RON tokens. Convert these daily RON totals to USD using end-of-day RON price feeds from CoinGecko via the currency conversion macro.
- **Key fields**: `daily_timestamp`, `fees` (daily total in USD), market categorization fields

### Final aggregation
- **Combining components**: Daily gas fee totals are already aggregated and converted to USD in the previous step
- **Currency conversion**: RON token amounts are converted to USD using end-of-day CoinGecko price feeds, ensuring consistent daily valuation
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation, with each day containing the sum of all gas fees paid during that 24-hour period
- **Final calculation**: The final metric value represents the total USD value of gas fees paid on the Ronin blockchain for each day, with standardized schema fields including `market_sector_id` as 'blockchains_l1', `business_segment_id` as 'blockchain', and `chain_id` as 'ronin'. Missing days are filled with zero values to maintain a continuous time series.

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

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

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