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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Ronin

# Ronin Average transaction fee Methodology

## 1. Overview

Average transaction fee measures the mean cost per transaction on the Ronin blockchain network, expressed in USD. This metric is calculated by dividing the total daily transaction fees by the number of transactions executed on that day. It provides insight into the cost efficiency and usage patterns of the Ronin network, helping users and analysts understand transaction pricing trends over time.

## 2. Data sources

The calculation relies on these primary data sources:
- **Ronin blockchain transaction records**: Raw transaction data including gas usage, effective gas prices, transaction hashes, block timestamps, and transaction participants
- **End-of-day token price feeds**: RON token price data from CoinGecko API for USD conversion
- **RON token metadata**: Token contract address (`0xe514d9deb7966c8be0ca922de8a064264ea6bcd4`) and decimal specifications for proper price conversion

## 3. Step-by-step calculation

### Component A: Transaction fee calculation
- **Purpose**: Calculate the total gas fees paid for all transactions each day
- **Logic**: Raw Ronin transaction records are processed to extract gas usage and effective gas price data. For each transaction, the gas fee is calculated by multiplying `gas_used` by `effective_gas_price`. The effective gas price is first normalized by dividing by 10^18 to convert from wei units to RON units. These individual transaction fees are then converted from RON to USD using end-of-day price feeds from CoinGecko. Finally, all USD-denominated fees are summed by day using timestamp truncation to daily granularity.
- **Key fields**: `gas_used` (gas consumed by transaction), `effective_gas_price` (actual gas price paid), `block_timestamp` (for daily aggregation), `gas_fee` (calculated fee in RON)

### Component B: Transaction count calculation  
- **Purpose**: Count the total number of unique transactions executed each day
- **Logic**: Using the same raw Ronin transaction data, unique transactions are identified using distinct `transaction_hash` values. Transactions are grouped by day using timestamp truncation of `block_timestamp` to daily boundaries. The count of distinct transaction hashes provides the daily transaction volume.
- **Key fields**: `transaction_hash` (unique transaction identifier), `block_timestamp` (for daily grouping), `transaction_count` (daily count of unique transactions)

### Final aggregation
- **Combining components**: The daily transaction fee totals are joined with daily transaction counts using the daily timestamp as the join key
- **Currency conversion**: All fees are converted to USD using end-of-day RON price feeds before aggregation
- **Time aggregation**: Both components use daily time boundaries created by truncating block timestamps to day granularity
- **Final calculation**: Average transaction fee is calculated using safe division of total daily fees by daily transaction count. Safe division handles edge cases where transaction count might be zero, preventing division errors and ensuring data integrity

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

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