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 Average transaction fee Methodology

## 1. Overview

Average transaction fee measures the mean cost paid by users for transactions on the Viction blockchain, expressed in USD. This metric helps assess the economic efficiency and accessibility of the network by showing typical transaction costs. The calculation divides total daily transaction fees by the total number of transactions, accounting for Viction's dual fee structure that applies different pricing for VRC21 token transactions versus regular transactions.

## 2. Data sources

- **Viction blockchain transactions**: Complete transaction records including gas usage, gas prices, sender/recipient addresses, and transaction hashes
- **VRC21 token registry**: Registry data identifying VRC21 token contract addresses for special fee pricing
- **End-of-day price feeds**: VIC token price data for USD conversion
- **Token metadata**: VIC token contract information and decimal precision data

## 3. Step-by-step calculation

### Component A: Transaction fee calculation
- **Purpose**: Calculate individual transaction fees in VIC tokens using Viction's dual pricing model
- **Logic**: Extract transaction records and identify VRC21 token transactions by checking if the recipient address (`to_address`) exists in the VRC21 token registry. For regular transactions, calculate effective gas price by dividing the transaction's `gas_price` by 10^18 to normalize decimals. For VRC21 token transactions, apply a fixed effective gas price of 2.5 × 10^-10 VIC regardless of the actual gas price. Calculate each transaction's fee by multiplying `gas_used` by the determined `effective_gas_price`
- **Key fields**: `gas_used`, `gas_price`, `effective_gas_price`, `to_address`, `gas_fee`

### Component B: USD conversion
- **Purpose**: Convert VIC-denominated fees to USD values
- **Logic**: Join the calculated gas fees with end-of-day VIC token price feeds using the transaction date. Apply currency conversion by multiplying each transaction's `gas_fee` by the corresponding VIC price in USD. The conversion uses the `convert_to_usd_and_correct_decimals` macro without additional decimal corrections since VIC amounts are already properly normalized
- **Key fields**: `gas_fee`, converted `fees` in USD

### Component C: Daily fee aggregation  
- **Purpose**: Sum total transaction fees per day
- **Logic**: Group transactions by day using `timestamp_trunc` to create daily boundaries. Sum all converted USD fee amounts within each day to get total daily fees. Apply metadata fields including `chain_id` as 'viction', `market_sector_id` as 'blockchains_l1', and token address as the VIC contract address
- **Key fields**: `timestamp`, `fees` (daily total)

### Component D: Daily transaction count
- **Purpose**: Count total transactions per day
- **Logic**: Using the same transaction data, group by day and count distinct transaction hashes using `approx_count_distinct` to get the total number of unique transactions per day. This ensures each transaction is counted exactly once even if it appears multiple times in processing
- **Key fields**: `timestamp`, `transaction_count`, `transaction_hash`

### Final aggregation
- **Combining components**: Join daily fee totals with daily transaction counts on the timestamp field to align the same calendar days
- **Currency conversion**: Fees are already converted to USD in the intermediate steps using end-of-day VIC token prices
- **Time aggregation**: Both components use daily boundaries created by truncating timestamps to day level, ensuring consistent time alignment
- **Final calculation**: Calculate average transaction fee by dividing total daily fees by total daily transaction count using `safe_divide` to handle edge cases where transaction count might be zero. The result represents the mean fee paid per transaction in USD for each day

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

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