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Trojan

# Trojan Average fees per user (AFPU) Methodology

## 1. Overview

Average Fees Per User (AFPU) measures the average amount of fees paid per unique user on Trojan protocol each day. This metric is calculated by dividing the total daily fees collected by Trojan by the number of distinct active users for that same day. AFPU helps understand the average monetization per user and can indicate changes in user behavior, fee structures, or protocol usage patterns.

## 2. Data sources

The calculation relies on the following raw data sources:

- **Solana native transfers**: Native SOL transfer events on the Solana blockchain, specifically transfers directed to Trojan's designated fee collection address
- **End-of-day price feeds**: Token price data for converting SOL amounts to USD values
- **Token metadata**: Information about SOL token (address `So11111111111111111111111111111111111111112`) for proper identification and decimal handling

## 3. Step-by-step calculation

### Component A: Fee collection data

- **Purpose**: Captures all fee payments made to Trojan protocol by filtering native SOL transfers to the fee collection address
- **Logic**: Filter Solana native transfer events where the recipient address matches Trojan's fee collection address `9yMwSPk9mrXSN7yDHUuZurAh1sjbJsfpUqjZ7SvVtdco`. Extract key transaction details including the transaction signer (user), transfer amount in lamports, transaction timestamp, and transaction identifier. The signer represents the user paying fees to the protocol.
- **Key fields**: `transaction_signer` (fee-paying user), `amount` (fee amount in lamports), `block_timestamp` (transaction time), `to_address` (fee collection address)

### Component B: Daily fees aggregation

- **Purpose**: Aggregates individual fee transactions into daily totals and converts to USD
- **Logic**: Group filtered transactions by day using timestamp truncation. Sum the fee amounts for each day and convert from lamports to SOL by dividing by 1e9 (Solana's decimal conversion factor). Apply USD conversion using end-of-day price feeds to get daily fees in USD. Handle missing days by filling with zeros to maintain continuous time series.
- **Key fields**: `timestamp` (daily boundary), `fees` (aggregated fee amount), `chain_id` ('solana'), `token_address` (SOL token identifier)

### Component C: Daily active users calculation

- **Purpose**: Counts the number of unique users who paid fees each day
- **Logic**: From the same fee transaction data, extract distinct transaction signers per day. Each signer represents a unique active user classified as 'Trader' user type. Use HyperLogLog (HLL) functions for scalable distinct counting across different dimensional breakdowns including project-level, chain-level, user-type-level, and product-level aggregations. Apply zero-filling strategy for days with no activity.
- **Key fields**: `user_dau` (distinct signer address), `timestamp` (daily boundary), `user_type` ('Trader'), `chain` ('solana')

### Final aggregation

- **Combining components**: The AFPU calculation uses the standard ARPU (Average Revenue Per User) pattern, dividing total daily fees by the count of daily active users for each day
- **Currency conversion**: Fee amounts are converted from SOL to USD using end-of-day price feeds, ensuring consistent currency reporting
- **Time aggregation**: Both fees and user counts are aggregated at daily granularity using timestamp truncation to day boundaries
- **Final calculation**: For each day, divide the total fees (in USD) by the number of distinct active users to calculate the average fees per user. Apply zero-fill strategy to ensure continuous time series data even for days with no activity

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

Trojan

Average fees per user (AFPU)

Average fees per user (AFPU)

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