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

Viction is a smart contract platform for decentralized applications (a blockchain). Viction was founded by Ninety Eight and launched in 2018.

VIC holders own and govern the protocol. They currently don't take a cut of the total transaction fees paid by users (revenue). Ninety Eight's investors include Binance Labs, The Spartan Group, Multicoin Capital, etc.

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Blockchains (L1)

Viction

# Viction Fees Methodology

## 1. Overview

This metric measures the total daily fees collected by the Viction blockchain network, denominated in USD. It represents the aggregate amount paid by users for transaction processing, providing insight into network utilization and economic activity. The calculation aggregates gas fees from all transactions executed on Viction, applying special pricing logic for VRC21 tokens and converting the final amounts to USD using end-of-day price feeds.

## 2. Data sources

- **Viction blockchain transactions**: Complete transaction records from the Viction blockchain including block timestamps, transaction hashes, sender and receiver addresses, gas consumption, and gas prices
- **VRC21 token registry**: Registry data identifying VRC21 token contract addresses on Viction network, used to apply special gas pricing rules for these token transactions
- **End-of-day price feeds**: Daily closing prices for WVIC (Wrapped Viction) token used for USD conversion of native VIC amounts

## 3. Step-by-step calculation

### Component A: Transaction data processing
- **Purpose**: Extracts and standardizes all Viction blockchain transaction data with proper gas pricing logic
- **Logic**: Retrieves all transactions from Viction blockchain transaction records, including block timestamps, transaction identifiers, addresses, and gas consumption data. For each transaction, determines the effective gas price using conditional logic: if the transaction's destination address matches a VRC21 token contract (identified by cross-referencing with the VRC21 token registry), applies a fixed gas price of 2.5 * 1e-10. For all other transactions, uses the actual `gas_price` field from the transaction record divided by 10^18 to correct for decimal precision
- **Key fields**: `block_timestamp` for timing, `gas_used` for consumption amount, calculated `effective_gas_price` based on transaction type, `token_address` set to WVIC contract address, and `chain` identifier

### Component B: Gas fee calculation
- **Purpose**: Calculates the actual gas fee paid for each individual transaction
- **Logic**: For each processed transaction, multiplies the `gas_used` amount by the `effective_gas_price` determined in the previous component. This produces the total gas fee paid in native VIC tokens for each transaction, preserving all transaction-level details for subsequent aggregation
- **Key fields**: `gas_fee` as the product of gas consumption and effective price, along with transaction identifiers and timestamps

### Component C: Daily aggregation and USD conversion
- **Purpose**: Aggregates transaction-level gas fees to daily totals and converts to USD
- **Logic**: Groups all gas fee calculations by day using timestamp truncation to daily boundaries. Sums all `gas_fee` amounts within each day to produce daily fee totals. Applies USD conversion using end-of-day WVIC token price feeds, converting the native VIC amounts to USD values. Sets appropriate metric metadata including market sector as 'blockchains_l1', business segment as 'blockchain', and chain identifier as 'viction'
- **Key fields**: Daily `timestamp` with 'day' granularity, aggregated `fees` amounts in USD, and standardized metric classification fields

### Final aggregation
- **Combining components**: Transaction data flows through gas fee calculation, then into daily aggregation with no complex joins required since all data originates from the same transaction records
- **Currency conversion**: Native VIC gas fees are converted to USD using end-of-day WVIC token price feeds, with decimal precision maintained throughout the calculation
- **Time aggregation**: Daily boundaries are established using timestamp truncation, with all transactions within a calendar day contributing to that day's total
- **Final calculation**: The metric represents the sum of all gas fees paid across all Viction transactions within each day, converted to USD and standardized with zero-filling for any missing days to ensure complete time series continuity

*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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