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 Revenue Methodology

## 1. Overview

Viction revenue represents the protocol-level income generated by the Viction blockchain network. Unlike many blockchain protocols, Viction follows a model where gas fees are collected but no direct protocol revenue is generated - all gas fees flow through the network without being captured as protocol revenue. The metric tracks this intentionally as zero while maintaining the underlying fee calculation structure for transparency and potential future revenue model changes.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Viction blockchain transaction records**: Complete transaction data including gas usage, gas prices, sender and receiver addresses, block timestamps, and transaction hashes
- **VRC21 token registry**: Viction state data containing addresses of VRC21 tokens (Viction's token standard) used to identify special token transactions
- **End-of-day price feeds**: Daily closing prices for the WVIC token (Wrapped Viction) used for USD conversion of gas fees

## 3. Step-by-step calculation

### Component A: Transaction data processing
- **Purpose**: Extract and standardize raw Viction transaction data with proper data type casting
- **Logic**: Process raw blockchain transactions by casting key fields to appropriate data types including `block_timestamp` as timestamp, `block_number` as integer, transaction addresses as strings, and gas-related fields as big numeric values. Filter for valid transactions and prepare data for gas fee calculations.
- **Key fields**: `block_timestamp`, `block_number`, `transaction_hash`, `from_address`, `to_address`, `receipt_gas_used`, `gas_price`

### Component B: Gas pricing logic
- **Purpose**: Apply Viction's two-tiered gas pricing system based on transaction type
- **Logic**: Join transaction data with the VRC21 token registry to identify token-specific transactions. For standard transactions, calculate effective gas price by dividing the transaction's `gas_price` by 10^18 to normalize from wei to VIC units. For transactions involving VRC21 tokens (identified by matching the `to_address` with VRC21 token registry), apply a fixed effective gas price of 2.5 × 10^-10 VIC per gas unit. This creates a subsidized gas pricing model for VRC21 token interactions.
- **Key fields**: `effective_gas_price` (calculated), `token_address` (set to WVIC address), `chain` (set to 'viction')

### Component C: Gas fee calculation
- **Purpose**: Calculate total gas fees paid for each transaction
- **Logic**: Multiply the `gas_used` (from `receipt_gas_used`) by the `effective_gas_price` determined in the previous step. This produces the total gas fee paid in native VIC tokens for each transaction.
- **Key fields**: `gas_fee` (calculated as gas_used × effective_gas_price)

### Component D: Daily aggregation and USD conversion
- **Purpose**: Aggregate gas fees to daily totals and convert to USD values
- **Logic**: Truncate transaction timestamps to day boundaries using `timestamp_trunc`. Group transactions by day and sum total gas fees. Set market classification as 'blockchains_l1' and business segment as 'blockchain'. Apply USD conversion using end-of-day WVIC token price feeds, multiplying native VIC fee amounts by the corresponding daily WVIC price. The conversion assumes WVIC price represents VIC token value.
- **Key fields**: `timestamp` (daily), `timestamp_grain` ('day'), `market_sector_id` ('blockchains_l1'), `fees` (in USD)

### Final aggregation
- **Combining components**: Daily gas fee totals in USD are processed through the fee finalization logic to ensure complete data coverage and proper formatting
- **Currency conversion**: Gas fees calculated in native VIC tokens are converted to USD using end-of-day WVIC token prices
- **Time aggregation**: All data is aggregated to daily boundaries, with gaps filled using zeros for days with no transaction activity
- **Final calculation**: Revenue is explicitly set to zero for all time periods, referencing the fee data structure but indicating that Viction does not capture protocol revenue from gas fees. The final output maintains daily timestamps, market classifications, and chain identifiers while consistently showing zero revenue values.

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

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

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Revenue

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