In other words, Gas is a fee that is applicable to each and every transaction on Terra network, just to avoid spamming. Validators usually set minimum gas prices and sometimes may reject transactions that have implied gas prices below the imposed threshold limit.

Like other blockchains, Terra also incorporates the utilization of gas to execute smart contracts. This method is precautionary and helps in the removal of spam from the blockchain and provides miners with an additional incentive to carry out operations on Terra network.

Here is the list of largest transactions happened on Terra, derived based on the Total volume over the past 30 days and the upcoming graphs will show us the comparison of Gas limit Versus Gas used across these large transactions.

This graph clearly shows the Gas Limit and Gas used on these largest transactions (by volume) traded over the last 30 days on Terra network.

These are top 25 largest transactions by volume over the Terra system in the past 30 days and it is clear from graph that Gas utilized is less compared to the Gas limit on most of the transactions.

Conclusion:

After getting the largest transactions by Total volume over the past 30 days, it is appearing that Gas used seems to be less than the Gas limit on most of the largest transactions on Terra network. We could see very rare cases where Gas used is somewhat close to the Gas wanted/limit for those Transactions.

Validators establish minimum gas prices and invalidate transactions with implied gas costs that fall below this level. The computation fees are distributed to the collaborating validators pro-rata to stake at the conclusion of each block.