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

Stellar is a distributed ledger for transfer and store of value (a blockchain). Stellar was founded by Jed McCaleb launched in 2014.

XLM holders own and govern the protocol. They currently take all of the total transaction fees paid by users (revenue).

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Blockchains (L1)

Stellar

# Stellar Average revenue per user (ARPU) Methodology

## 1. Overview

Average Revenue Per User (ARPU) measures the average daily revenue generated per active user on the Stellar network. This metric is calculated by dividing the total daily revenue (transaction fees converted to USD) by the number of daily active users (distinct transaction senders). ARPU helps assess the monetization efficiency and user value generation of the Stellar blockchain, providing insights into how much revenue each active user contributes on average.

## 2. Data sources

The calculation uses the following raw data sources:
- **Stellar transaction logs**: Complete transaction records from the Stellar blockchain containing transaction metadata, fees, sender addresses, and success status
- **End-of-day XLM price feeds**: Daily closing prices for XLM (Stellar Lumens) tokens used for USD conversion
- **Token metadata**: XLM token information including decimal precision and native token designation for proper unit conversion

## 3. Step-by-step calculation

### Component A: Daily active users calculation
- **Purpose**: Counts the number of unique users (transaction senders) active on each day
- **Logic**: Extracts all successful transactions from Stellar transaction logs and identifies unique `source_account` addresses per day. Uses HyperLogLog (HLL) sketches for efficient counting of distinct addresses. The calculation is split into historical data (before 2025-01-01) and recent data (from 2025-01-01 onwards) for performance optimization. Only transactions with successful execution are included in user counting.
- **Key fields**: `source_account` (transaction sender address), `block_timestamp` (transaction timestamp), `successful` (transaction status flag)

### Component B: Daily revenue calculation
- **Purpose**: Calculates the total revenue generated from transaction fees each day
- **Logic**: Extracts transaction fees from successful Stellar transactions using the `fee_charged` field, which represents fees paid in stroops (Stellar's smallest unit). Converts stroops to XLM by dividing by 10,000,000 (1e7), then aggregates all fees per day. The native XLM fees are then converted to USD using end-of-day price feeds. Only successful transactions with non-null fee charges are included in revenue calculation.
- **Key fields**: `fee_charged` (transaction fee in stroops), `successful` (transaction status), `block_timestamp` (transaction timestamp)

### Final aggregation
- **Combining components**: The daily active users count and daily revenue totals are calculated independently and then combined through division
- **Currency conversion**: XLM fees are converted to USD using end-of-day price feeds applied to the daily aggregated fee amounts
- **Time aggregation**: Both user counts and revenue totals are aggregated to daily boundaries using date truncation of transaction timestamps
- **Final calculation**: ARPU equals the total daily revenue in USD divided by the count of distinct active users for each day. This produces the average revenue per user metric expressed in USD per user per day

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

StellarXLM

Average revenue per user (ARPU)

Average revenue per user (ARPU)

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