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

Sui is a smart contract platform for decentralized applications (a blockchain). Sui was founded by Evan Cheng, Sam Blackshear, Adeniyi Abiodun, George Danezis and launched in 2022.

Sui (Mysten Labs) team & investors own and govern the protocol. They currently don’t take a cut of the total transaction fees paid by users (revenue). Sui's investors include a16z, Coinbase Ventures, Electric Capital, etc.

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# Sui Average revenue per user (ARPU) Methodology

## 1. Overview

Average revenue per user (ARPU) measures the daily revenue generated by the Sui network relative to its active user base. This metric reflects the average economic value contributed by each unique participant on a daily basis. On Sui, protocol revenue is equivalent to 100% of the non-refundable transaction fees, which include all computation fees and a portion of storage fees, as these fees are burned to accrue value to the native asset holders. ARPU is calculated by dividing the total daily USD-denominated revenue by the count of unique active users (daily).

## 2. Data sources

- **Revenue**: Derived from the Revenue metric
- **Active users (daily)**: Derived from the Active users (daily) metric
- **Blockchain events**: Transaction activity, computation costs, and storage costs on Sui
- **External data**: End-of-day price feeds for the native SUI asset

## 3. Step-by-step calculation

### Component A: Network fee extraction

- **Purpose**: Capture the total transaction fees paid by users to use the Sui network.
- **Logic**: Fees are extracted from all transaction activity on the Sui blockchain. For each transaction, the total fee is calculated as the sum of the computation cost and 1% of the storage cost, representing the non-refundable portion of the storage deposit. Storage rebates and the remaining 99% of storage costs are excluded as they are classified as refundable liabilities. These values are captured in the native MIST unit. Failed transactions are included in this calculation as they still incur computation costs on the network.
- **Key fields**: `computation_cost` and `storage_cost`.

### Component B: Active user identification

- **Purpose**: Identify the unique daily participant count used as the denominator for the ARPU calculation.
- **Logic**: Unique users are identified by tracking the distinct addresses in the `sender` field of all transactions. Each unique address is counted exactly once per 24-hour UTC window, regardless of the number of transactions submitted by that address.
- **Key fields**: `sender` and `block_timestamp`.

### Component C: Revenue normalization and USD conversion

- **Purpose**: Convert network fees into protocol revenue and normalize values to USD.
- **Logic**: Protocol revenue is defined as 100% of the captured non-refundable fees. Fee amounts are normalized by decimal precision to convert from MIST to the native SUI asset. These values are then multiplied by end-of-day price feeds for the SUI asset to determine the daily revenue in USD.
- **Key fields**: `gas_used` and asset price data.

### Component D: ARPU calculation

- **Purpose**: Generate the final average revenue per user.
- **Logic**: The total daily revenue in USD is divided by the number of unique active users (daily) for the corresponding 24-hour period. In instances where no activity is recorded, the metric is zero-filled to ensure a continuous time series.
- **Key fields**: Daily revenue (USD) and daily active user count.

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

SuiSUI

Average revenue per user (ARPU)

Average revenue per user (ARPU)

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