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 Supply-side fees Methodology

## 1. Overview

Supply-side fees for Terra represent the net fees that flow to the protocol and its ecosystem participants. This metric is calculated as the total transaction fees paid by users minus the developer fees paid out to application developers through Terra's fee-sharing mechanisms. The calculation captures the portion of fees retained by the Terra protocol after developer incentives are distributed.

## 2. Data sources

The calculation uses the following raw data sources:
- **Terra blockchain event attributes**: Event logs containing transaction fee information and developer fee payout records
- **End-of-day price feeds**: CoinGecko price data for Terra native tokens including LUNA and stablecoin denominations

## 3. Step-by-step calculation

### Component A: Transaction fees extraction
- **Purpose**: Identifies and extracts all transaction fees paid by users on the Terra blockchain
- **Logic**: Filters Terra event attributes for transaction events (`tx` event type) that contain fee information (`fee` attribute key). Uses regular expression parsing to extract the numeric amount and token denomination from the attribute value string. Maps Terra native token units (`uluna` for Terra Luna, `FDB` for USD Coin) to their corresponding CoinGecko identifiers (`terra-luna-2`, `usd-coin`). Converts amounts from micro-units to standard units by dividing by 1,000,000
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for transaction identification, `unit` for token denomination, `amount` for fee quantity

### Component B: Developer fees extraction  
- **Purpose**: Identifies and extracts developer fee payouts distributed through Terra's fee-sharing program
- **Logic**: Filters Terra event attributes for two types of developer fee events: `payout_feeshare` and `juno.feeshare.v1.FeePayoutEvent`. Parses JSON-formatted payout data, handling different schemas for each event type. For `feeshare` events, extracts fee amounts from nested `fees_paid` arrays. For `juno_feeshare` events, extracts amounts directly from the payout object. Flattens payout arrays to handle multiple recipients per transaction. Applies the same token unit mapping and decimal conversion as transaction fees
- **Key fields**: `block_timestamp`, `transaction_hash`, `unit` for token denomination, `amount` for payout quantity

### Final aggregation
- **Combining components**: Union transaction fees (positive amounts) with developer fees (negative amounts) to calculate the net supply-side fees. This approach ensures developer payouts are subtracted from gross transaction fees
- **Currency conversion**: Converts all fee amounts to USD using end-of-day CoinGecko price feeds matched by token identifier and date
- **Time aggregation**: Truncates timestamps to daily boundaries and sums all fee amounts within each day
- **Final calculation**: The daily supply-side fees equal the sum of all transaction fees minus all developer fee payouts for that day, converted to USD. Missing dates are filled with zero values to maintain time series continuity

*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

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