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 Median transaction fee Methodology

## 1. Overview

The Ronin transaction fee median metric measures the middle value of all transaction fees paid on the Ronin blockchain for each day. This metric provides insight into the typical cost users pay for transactions, helping assess network affordability and usage patterns. The calculation involves computing individual transaction fees from gas usage and pricing data, then finding the daily median value and converting it to USD.

## 2. Data sources

- **Ronin blockchain transactions**: Raw transaction records from the Ronin blockchain containing gas usage, gas pricing, timestamps, and transaction metadata
- **End-of-day price feeds**: RON token price data from CoinGecko API for USD conversion
- **Token metadata**: RON token contract address (`0xe514d9deb7966c8be0ca922de8a064264ea6bcd4`) used for price lookup

## 3. Step-by-step calculation

### Component A: Transaction data extraction
- **Purpose**: Extract and standardize raw transaction data from Ronin blockchain
- **Logic**: Pull all Ronin transactions with their block timestamps, transaction hashes, gas usage amounts, and effective gas prices. The `effective_gas_price` field is normalized from wei to RON by dividing by 10^18. All transactions are tagged with the RON token contract address for later price conversion.
- **Key fields**: `block_timestamp` for timing, `gas_used` for computational cost, `effective_gas_price` for per-unit pricing in RON

### Component B: Transaction fee calculation
- **Purpose**: Calculate individual transaction fees and compute daily medians
- **Logic**: For each transaction, multiply `gas_used` by `effective_gas_price` to get the total fee paid in RON tokens. Handle null values by setting them to 0 using coalesce. Group transactions by day using timestamp truncation. Calculate the median fee for each day using the approximate quantiles function with 100 buckets, selecting the 50th percentile value.
- **Key fields**: `fee_amount` as the calculated transaction cost, `transaction_fee_median` as the daily median value

### Final aggregation
- **Combining components**: The daily median transaction fees are passed forward without additional combination since the median calculation already aggregates all transactions for each day
- **Currency conversion**: Convert RON-denominated median fees to USD using end-of-day RON prices from CoinGecko API, applied via the `convert_to_usd_cg` macro
- **Time aggregation**: Data is aggregated at daily boundaries using timestamp truncation to the day level
- **Final calculation**: The final metric value is the median of all transaction fees for each day, expressed in USD. Missing data points are filled with zeros using the fill_zeros strategy, and chain availability filters ensure data consistency across different time periods.

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

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