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

Terra is a smart contract platform for decentralized applications (a blockchain). Terra was founded by Daniel Shin and Do Kwon and launched in 2018. Terra Classic's stablecoin UST collapsed in 2022 due to a cryptocurrency equivalent of a bank run. Terra was forked shortly after, leading to the current Terra and its predecessor Terra Classic. This dashboard tracks the new Terra blockchain.

LUNA holders own and govern the protocol. They take a cut of the total transaction fees paid by users (revenue) that is then rewarded to contract owners (cost of revenue). Terra’s investors include Coinbase Ventures, Galaxy Digital, Pantera Capital, etc.

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Terra

# Terra Fees Methodology

## 1. Overview

Terra fees represent the total transaction fees paid on the Terra blockchain, measured in USD. This metric captures all fees paid by users when executing transactions on the Terra network, providing insight into network usage and fee revenue. The calculation extracts fee information from Terra blockchain event attributes, processes and standardizes the fee amounts, then converts them to USD for consistent reporting.

## 2. Data sources

The calculation uses the following data sources:
- **Terra blockchain events**: Raw Terra blockchain event attributes containing transaction fee information
- **Transaction event logs**: Terra `tx` events that include fee attribute data with amounts and currency units
- **External price data**: End-of-day token price feeds from CoinGecko for USD conversion
- **Token metadata**: Currency unit mappings to standardize different Terra tokens

## 3. Step-by-step calculation

### Component A: Event attribute extraction
- **Purpose**: Extracts raw event attribute data from Terra blockchain events
- **Logic**: Retrieves all event attributes from Terra blockchain events, including `block_timestamp`, `transaction_hash`, `event_type`, `attribute_key`, and `attribute_value` fields. This provides the raw data needed to identify and extract fee information from transaction events.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for transaction identification, `event_type` and `attribute_key` for filtering, `attribute_value` containing the fee data

### Component B: Transaction fee processing
- **Purpose**: Identifies and processes transaction fee data from event attributes
- **Logic**: Filters events to only include transaction events where `event_type` equals `tx` and `attribute_key` equals `fee`. Uses regex pattern extraction to parse the `attribute_value` field, extracting the numeric amount portion and the currency unit suffix. Applies decimal correction by dividing amounts by 1,000,000 to account for Terra's micro-unit denomination. Maps currency units to CoinGecko identifiers for price lookup, specifically mapping `uluna` to `terra-luna-2` and both `FDB` and null values to `usd-coin`.
- **Key fields**: `amount` (fee amount after decimal correction), `unit` (original currency unit), `coingecko_id` (mapped token identifier for price lookup)

### Component C: Daily aggregation and USD conversion
- **Purpose**: Aggregates fees by day and converts to USD values
- **Logic**: Groups processed fee data by daily timestamp using day-level truncation of `block_timestamp`. Sums all fee amounts within each day to get total daily fees per currency. Applies standard metadata fields including chain identifier (`terra`), business line (`Blockchain`), market sector (`blockchains_l1`), and version (`v1`). Converts fee amounts to USD using the `convert_to_usd_cg` macro with CoinGecko price feeds.
- **Key fields**: `daily_timestamp` (day-level aggregation boundary), `fees` (summed fee amounts), USD conversion applied to fee totals

### Final aggregation
- **Combining components**: Fee data flows from raw event attributes through fee extraction and processing to daily aggregation
- **Currency conversion**: USD conversion uses end-of-day CoinGecko prices matched to the appropriate token identifiers, with different Terra tokens mapped to their corresponding price feeds
- **Time aggregation**: All fees are aggregated at the daily level using day-truncated timestamps, with `timestamp_grain` set to `day`
- **Final calculation**: The metric represents the total USD value of all transaction fees paid on Terra for each day, calculated as the sum of individual transaction fees converted to USD using appropriate exchange rates

*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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