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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Viction

# Viction Supply-side fees Methodology

## 1. Overview

Supply-side fees for Viction represent the total gas fees collected by validators for processing transactions on the Viction blockchain. This metric captures the revenue that flows to the supply side of the network (validators/block producers) from users paying for transaction execution. The calculation aggregates all gas fees paid in VIC tokens across all transactions, converts them to USD, and presents them as daily totals.

## 2. Data sources

- **Viction blockchain transaction records**: Complete transaction data including gas usage, gas prices, sender/receiver addresses, and block information
- **VRC21 token registry**: Registry of VRC21 tokens on Viction that use special fee structures
- **End-of-day price feeds**: VIC token price data for USD conversion

## 3. Step-by-step calculation

### Component A: Transaction data extraction
- **Purpose**: Extract and standardize transaction data from the Viction blockchain
- **Logic**: Raw transaction records are processed to extract key fields including block timestamp, transaction hash, sender and receiver addresses, gas used, and gas price. The `gas_used` field represents the actual gas consumed by the transaction, while gas prices are extracted from the original transaction data. All numeric fields are cast to appropriate data types and addresses are standardized as strings. The VIC token address `0xc054751bdbd24ae713ba3dc9bd9434abe2abc1ce` is assigned as the fee token for all transactions.
- **Key fields**: `block_timestamp`, `gas_used`, `gas_price`, `from_address`, `to_address`, `transaction_hash`

### Component B: Gas price calculation with VRC21 logic
- **Purpose**: Apply protocol-specific gas pricing logic that differs for VRC21 token transactions
- **Logic**: The system checks if the transaction destination address matches any address in the VRC21 token registry. For standard transactions, the effective gas price is calculated by dividing the transaction's gas price by 10^18 to convert from wei to VIC tokens. For transactions involving VRC21 tokens, a fixed effective gas price of 2.5 * 10^-10 VIC is applied regardless of the original gas price. This special pricing reflects Viction's fee structure for VRC21 token operations.
- **Key fields**: `effective_gas_price` (calculated), `token_address` (set to VIC token address)

### Component C: Gas fee calculation
- **Purpose**: Calculate the actual gas fee paid for each transaction
- **Logic**: For each transaction, the gas fee is calculated by multiplying the `gas_used` by the `effective_gas_price`. This gives the total amount of VIC tokens paid as fees for that specific transaction. The calculation preserves transaction-level detail including block information and addresses for potential further analysis.
- **Key fields**: `gas_fee` (calculated as gas_used * effective_gas_price)

### Component D: Daily aggregation and USD conversion
- **Purpose**: Aggregate transaction fees to daily totals and convert to USD
- **Logic**: Transaction timestamps are truncated to day boundaries using timestamp truncation. Gas fees are summed across all transactions within each day. The aggregated daily fees are then converted from VIC tokens to USD using end-of-day VIC token prices. The system applies decimal correction to ensure proper currency representation and handles any missing price data appropriately.
- **Key fields**: `timestamp` (daily), `fees` (aggregated daily gas fees in USD)

### Final aggregation
- **Combining components**: Daily gas fees flow directly from the core fees calculation to the supply-side fees metric without modification
- **Currency conversion**: VIC token amounts are converted to USD using end-of-day price feeds with appropriate decimal corrections
- **Time aggregation**: All data is aggregated to daily boundaries with timestamps truncated to day level
- **Final calculation**: Supply-side fees equal the total daily gas fees since all gas fees on Viction go directly to validators as revenue. The metric applies data quality checks, fills any gaps with zeros where appropriate, and ensures consistent schema formatting through finalization macros.

*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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