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 Median transaction fee Methodology

## 1. Overview

The Viction transaction fee median metric measures the daily median transaction fee paid by users on the Viction blockchain. This metric provides insight into typical transaction costs and network congestion patterns. The calculation processes all Viction transactions, applies protocol-specific gas pricing logic for VRC21 tokens, computes daily median fees, and converts results to USD.

## 2. Data sources

- **Viction blockchain transactions**: Raw transaction records from the Viction blockchain containing gas usage, gas prices, sender/recipient addresses, block timestamps, and transaction hashes
- **VRC21 token registry**: Registry data identifying VRC21 token contract addresses on Viction, used to apply special gas pricing logic
- **End-of-day price feeds**: Daily closing prices for VIC token to enable USD conversion of fee amounts

## 3. Step-by-step calculation

### Component A: Transaction processing
- **Purpose**: Process raw Viction transaction data and calculate effective gas prices with protocol-specific logic
- **Logic**: Extract transaction details including `gas_used`, `gas_price`, `to_address`, and `block_timestamp` from Viction blockchain records. Join with VRC21 token registry to identify transactions sent to VRC21 token contracts. Apply gas price calculation logic: for transactions to VRC21 token addresses, use a fixed effective gas price of 2.5 × 10⁻¹⁰ VIC; for all other transactions, normalize the `gas_price` field by dividing by 10¹⁸ to convert from wei to VIC. Set the token address to the wrapped VIC address (`0xc054751bdbd24ae713ba3dc9bd9434abe2abc1ce`) for all transactions.
- **Key fields**: `gas_used` (gas consumed), `effective_gas_price` (calculated price per gas unit), `block_timestamp` (transaction timing), `token_address` (wrapped VIC address)

### Component B: Daily median calculation
- **Purpose**: Calculate the median transaction fee for each day across all Viction transactions
- **Logic**: Calculate individual transaction fees by multiplying `gas_used` by `effective_gas_price` for each transaction, defaulting to 0 if the calculation fails. Group all transactions by day using `timestamp_trunc` on `block_timestamp`. For each day, compute the median fee amount using the `approx_quantiles` function with 100 buckets and select the 50th percentile value. Handle incremental processing by filtering to recent days when updating existing data.
- **Key fields**: `timestamp` (daily aggregation boundary), `transaction_fee_median` (50th percentile fee amount in VIC)

### Final aggregation
- **Combining components**: The daily median fees flow directly from the transaction processing through the median calculation
- **Currency conversion**: Convert median fee amounts from VIC to USD using end-of-day price feeds, applying the conversion without decimal correction since fees are already normalized
- **Time aggregation**: Results are aggregated at daily granularity with `timestamp_grain` set to 'day'
- **Final calculation**: The final metric represents the median transaction fee in USD for each day, with metadata including chain identifier ('viction'), token address (wrapped VIC), and product identifier (null). Missing days are filled with zeros using the fill strategy, and chain availability filters are applied to ensure data quality.

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

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