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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Blockchains (L1)

# Sui Revenue Methodology

## 1. Overview

Revenue measures the value captured by the Sui network through its fee-burning mechanism. On Sui, 100% of transaction fees paid by users are removed from the circulating supply, effectively acting as a value accrual mechanism for all asset holders. This metric reflects the non-refundable computation costs and the non-refundable portion of storage fees retained by the protocol, excluding refundable storage deposits and before any operating expenses.

## 2. Data sources

- **Blockchain events**: Transaction records from the Sui blockchain, covering Sui
- **External data**: End-of-day price feeds for the native SUI asset

## 3. Step-by-step calculation

### Component A: Gas fee extraction

- **Purpose**: Captures the non-refundable gas fees paid by users for network activity
- **Logic**: Computation costs and 1% of storage costs are extracted for every transaction record on the Sui blockchain, including both successful and failed transactions. The remaining 99% of storage costs are excluded as they are rebatable when objects are deleted. Data processing includes all historical records beginning from the network genesis on May 3rd, 2023. All extracted values are initially denominated in MIST units.
- **Key fields**: `computation_cost`, `storage_cost`

### Component B: Asset normalization and USD conversion

- **Purpose**: Normalizes fee values to SUI and converts them to USD
- **Logic**: Daily aggregate fee amounts are normalized from MIST to SUI by applying a decimal precision factor of 10^9. These native values are subsequently multiplied by end-of-day price feeds. Values are converted to USD and aggregated based on UTC day boundaries.
- **Key fields**: `block_timestamp`, `computation_cost`, `storage_cost`

### Component C: Protocol revenue allocation

- **Purpose**: Determines the portion of fees retained by the protocol
- **Logic**: A 100% take rate is applied to the total fee volume to determine protocol revenue. This allocation is based on the Sui network's economic model where all collected gas fees are burned rather than being distributed to supply-side participants. This process removes the assets from circulation, thereby accruing value to the remaining supply.
- **Key fields**: `fees` (from upstream calculation)

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

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

SuiSUI

Revenue

Revenue

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