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

Sei is a Layer 1 blockchain built for fast, low-cost financial transactions. It combines the security and reliability of Ethereum with the high performance of Solana. To date, Sei has processed billions of transactions across more than 90 million wallets. The project is backed by leading investors, including Multicoin Capital, Jump, Coinbase Ventures, and Circle Ventures. Token Terminal exclusively tracks Sei EVM data.

SEI holders own and govern the protocol. They currently do not take a cut of the transaction fees paid by users (revenue). Sei's investors include Multicoin Capital, Coinbase, etc.

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Sei Network

# Sei Network Average revenue per user (ARPU) Methodology

## 1. Overview

Average revenue per user (ARPU) measures the daily revenue generated per active user on Sei Network. This metric reflects the protocol's effectiveness in monetizing individual user activity through transaction fees. For Sei Network, all calculations are based on activity occurring on Sei EVM, where transaction fees paid by users are classified as protocol revenue.

## 2. Data sources

- **Revenue**: Derived from the Revenue metric
- **Active users (daily)**: Derived from the Active users (daily) metric
- **Blockchain events**: Transaction metadata, including gas usage and gas prices, is extracted from Sei EVM
- **External data**: End-of-day price feeds for the native SEI asset

## 3. Step-by-step calculation

### Component A: Revenue calculation

- **Purpose**: To calculate the daily total revenue generated from transaction fees on Sei EVM
- **Logic**: Gas fees are calculated for every transaction by multiplying the gas used by the effective gas price. These values are summed daily and normalized by decimal precision to represent the total fees in the native SEI asset. The resulting amounts are converted to USD using end-of-day price feeds. All fees on Sei EVM are recognized as protocol revenue.
- **Key fields**: `gas_used`, `gas_price`, `block_timestamp`

### Component B: Daily active user tracking

- **Purpose**: To identify the number of unique users interacting with the network daily
- **Logic**: Active users are identified by extracting the distinct transaction sender addresses from the Sei EVM transaction records. The total count of these unique addresses is aggregated into daily intervals based on the transaction block timestamps.
- **Key fields**: `from_address`, `block_timestamp`

### Component C: Average revenue per user derivation

- **Purpose**: To calculate the final ARPU metric by combining revenue and user data
- **Logic**: The total daily revenue is divided by the number of active users (daily). This calculation is performed at the project level, specifically for Sei EVM activity. In instances where no activity is recorded, the value is defaulted to zero to ensure a continuous time series.
- **Key fields**: `revenue`, `user_dau`

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

Sei NetworkSEI

Average revenue per user (ARPU)

Average revenue per user (ARPU)

Competitive landscape