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 Fees Methodology

## 1. Overview

Stacks network fees represent the total amount paid in transaction fees across all Stacks blocks within a daily period, measured in USD. Stacks is a Bitcoin Layer 2 blockchain using Proof of Transfer (PoX) consensus, where fees are calculated using a byte-based fee model with fee rates denominated in micro-STX (1 STX = 1,000,000 micro-STX). System transactions such as coinbase and tenure_change are excluded from fee calculations as they are protocol-level operations not initiated by users. The calculation aggregates fee amounts from individual transactions, converts them from micro-STX to USD using daily price feeds, and sums them across daily boundaries.

## 2. Data sources

- **Stacks blockchain transaction data**: Raw Stacks transaction records including timestamps, transaction types, fee amounts in micro-STX, and sender addresses
- **CoinGecko historical price data**: Daily STX/USD price data using the CoinGecko identifier `blockstack` for USD conversion

## 3. Step-by-step calculation

### Component A: Stacks transaction fee extraction
- **Purpose**: Extract and normalize fee data from Stacks transactions
- **Logic**: Stacks transaction data is processed to extract key fields including block timestamps, transaction hashes, and fee amounts. System transactions (coinbase and tenure_change types) are filtered out as they do not represent user-paid fees. Fee amounts are converted from micro-STX to STX by dividing by 10^6 (Stacks' standard decimal precision). Duplicate records are removed using distinct selection to ensure clean transaction-level data.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for identification, `fee` for fee calculation, `transaction_type` for filtering

### Component B: STX price data assembly
- **Purpose**: Provide continuous daily STX price coverage
- **Logic**: STX price data is sourced from CoinGecko using the `blockstack` identifier. Prices are aggregated to daily level and truncated to day boundaries, providing prices in USD for conversion of micro-STX fee amounts.
- **Key fields**: `timestamp` truncated to daily boundaries, `timestamp_grain` set to 'day', and `price` in USD

### Final aggregation
- **Combining components**: Daily transaction data is joined with daily price data on matching truncated timestamps, ensuring each transaction's fees are converted using the appropriate day's price
- **Currency conversion**: Fee amounts in STX are multiplied by the corresponding daily USD price to convert from STX to USD values
- **Time aggregation**: Transaction-level fees are summed within each daily boundary using timestamp truncation, aggregating all transactions that occurred within the same calendar day
- **Final calculation**: The total daily fees represent the sum of all individual transaction fees (in USD) within each day, providing the total economic value paid to miners for transaction processing across the Stacks network for that day

*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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