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 Supply-side fees Methodology

## 1. Overview

Supply-side fees represent the portion of transaction fees that are paid to network participants who provide infrastructure or liquidity services, such as validators, miners, or liquidity providers. For Stellar, this metric is calculated as zero because the Stellar protocol does not have a supply-side fee mechanism. All transaction fees on Stellar are burned rather than distributed to network participants, making the supply-side component of fees always zero.

## 2. Data sources

The calculation uses the following data sources:
- **Stellar blockchain transaction records**: Raw transaction data from the Stellar network containing fee information and transaction success status
- **End-of-day XLM price feeds**: Daily closing prices for XLM token to enable USD conversion
- **Token Terminal chain metadata**: Standardized chain identifiers and market sector classifications

## 3. Step-by-step calculation

### Component A: Base fees extraction
- **Purpose**: Extract and process transaction fees from raw Stellar blockchain data
- **Logic**: Query Stellar transaction records filtering for successful transactions with non-null `fee_charged` values. The `fee_charged` field contains the transaction fee amount in stroops (Stellar's smallest unit where 1 XLM = 10^7 stroops). Truncate timestamps to daily boundaries and convert stroops to XLM by dividing by 10^7. Aggregate all transaction fees per day by summing the XLM amounts.
- **Key fields**: `fee_charged` (transaction fee in stroops), `successful` (transaction status filter), `block_timestamp` (for daily aggregation)

### Component B: USD conversion and standardization  
- **Purpose**: Convert XLM fees to USD and apply Token Terminal's metric standardization
- **Logic**: Take the daily aggregated XLM fee amounts and convert to USD using end-of-day XLM price feeds. Apply Token Terminal's standardized metric schema including chain identifiers, market sector classification (`blockchains_l1`), business segment (`blockchain`), and timestamp formatting. Apply chain availability filters to ensure data completeness.
- **Key fields**: `fees_native` (XLM amounts), converted to USD equivalent, `chain_id` (stellar), `timestamp_grain` (day)

### Final aggregation
- **Combining components**: The supply-side fees metric takes the processed fee data from the standardization step but overrides the fee amount with a hardcoded value of zero
- **Currency conversion**: While the base fees are converted to USD, the supply-side component is always zero regardless of currency
- **Time aggregation**: Daily aggregation boundaries are maintained from the base calculation
- **Final calculation**: Supply-side fees = 0 for all time periods, because Stellar's protocol burns all transaction fees rather than distributing them to network participants like validators or liquidity providers

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

Portion of fees distributed to service providers or supply-side participants.

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Supply-side fees

Supply-side fees

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