Stacks miners batch users' transactions and receive fees from users (supply-side fees). Miners submit transactions to Bitcoin, paying a share of the transaction fees to Bitcoin miners.

Stacks is an smart contract platform for creating decentralized applications on Bitcoin (a blockchain). Stacks was founded by Muneeb Ali and Ryan Shea, and launched in 2021.

STX tokenholders own and govern the protocol. They currently do not take a cut of the total transaction fees paid by users (revenue). Stacks' investors include IOSG Ventures, The Spartan Group, Hashkey Exchange, etc.

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Stacks

# Stacks Average fees per user (AFPU) Methodology

## 1. Overview

Average Fees Per User (AFPU) measures the average amount of transaction fees paid per daily active user on the Stacks network, expressed in USD. This metric answers the business question: "How much in fees does the Stacks network generate per active user?" The calculation divides total daily fees in USD by the number of unique daily active users, providing insight into the economic value generated per user on this Bitcoin Layer 2 blockchain.

## 2. Data sources

- **Stacks blockchain transaction data**: Stacks transaction records containing sender addresses (`from_address`), fee amounts in micro-STX, block timestamps, and transaction types
- **CoinGecko price data**: Daily STX/USD price feeds using the CoinGecko identifier `blockstack` for USD conversion

## 3. Step-by-step calculation

### Component A: User identification and counting
- **Purpose**: Identifies unique daily active users on the Stacks network
- **Logic**: Processes all Stacks transactions, excluding system transactions (coinbase and tenure_change types). Users are identified by the `from_address` field, which directly represents the transaction sender in Stacks' account-based model. Daily active users are counted as distinct sender addresses per day.
- **Key fields**: `from_address` (user address), `block_timestamp` (for daily grouping), `user_dau` (distinct daily user count)

### Component B: Fee calculation and USD conversion
- **Purpose**: Calculates total daily transaction fees in USD for the Stacks network
- **Logic**: Transaction fees are extracted from Stacks transaction data, excluding system transactions. Fee amounts are converted from micro-STX to STX by dividing by 10^6. The STX amounts are then converted to USD using daily STX/USD price data from CoinGecko (identifier `blockstack`). Daily fees are calculated by summing all fee amounts multiplied by the corresponding daily STX price.
- **Key fields**: `block_timestamp`, `fee` (converted to STX), daily STX/USD `price`

### Final aggregation
- **Combining components**: The two components are combined by dividing daily fees (in USD) by daily active users. Both metrics are aggregated to the same daily time boundary to ensure proper alignment
- **Currency conversion**: STX fees are converted to USD using daily price feeds from CoinGecko
- **Time aggregation**: All data is aggregated to daily boundaries using day-truncated timestamps to ensure consistent time alignment between fees and user counts
- **Final calculation**: AFPU is computed as the quotient of total daily fees in USD divided by the count of unique daily active users, expressed as: AFPU = (Sum of daily transaction fees in USD) / (Count of unique daily active users)

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

StacksSTX

Average fees per user (AFPU)

Average fees per user (AFPU)

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