Gas Guzzlers + 0xSplit User Subset Analysis

    The present dashboard demonstrate how to report who are the top protocol contracts that spent the most gas fees in the Ethereum network. Additionally, it shows how to perform a user subset analysis in terms of gas spent for a specific protocol: 0xSplits

    Monthly Gas Expenditure
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    Monthly Gas Spent vs Median Fees

    During 2023 the total gas spent reached a maxima during May with a total of ~442M USD spent in transaction fees, matching with the rise and fall of meme coins speculation. During this month, the median gas fee per transaction cost ~6 USD

    You can perform a gas expenditure analysis for another years by updating the the parameter at the top of the dashboard.

    Monthly Gas Spenders

    If we zoom in into the top gas spenders during the all-time-high month, we can see that Uniswap router contracts occupy the top positions of most gas spent in transaction fees. However a wallet tied to an MEV Bot that occupy the 3rd place has the greater average gas price set for transactions with ~438 gwei.

    On the other hand, the Arbitrum Sequencer and zkSync Era took the 6th and 9th place as the only non-DeFi protocols within the Top-10 gas spenders.

    If you want to dig deeper, you can select another month at the top of the dashboard.

    ProtocolGuild + 0xSplit - Analysing Distribution executor fees
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    What is 0xSplits?

    0xSplits is a protocol used to power onchain payments. Communities like the Protocol Guild uses a 0xSplit contract to distribute vested funds to people contributing to Ethereum public goods infrastructure.

    How funds are disibuted in Protocol Guild?

    Funds are periodically distributed to active contributors based on activity within the Guild. Currently at each quarter, a Guild commitee calculates the distribution in an off-chain spreadsheet and updates the guild member distribution weights via the updateSplits function. Then anyone is able to call the distribute eth/erc20 function to trigger a distribution, however this is gas intensive function so gas costs need to be assumed by the person/entity triggering the on-chain transaction.

    One way the 0xSplit protocol incentivizes 3rd-parties to execute the transaction is to set a distributorFee % (10% max) per disitrbuted member value , which will be finally forwarded to the tx executor. This allow executors earnings to potentially surpass tx gas costs in cases where a 0xSplit contract holds a high amount of assets.

    Fees Spent vs Earned

    So how much an 0xSplit distribution executor is earning when triggering a quarterly ProtocolGuild distribution? As we can see by looking the graph at the right, most of executors earnings have surpassed the total transaction fees spent to execute multiple Split distributions, except for the Top-3 executors that have spent more in gas than fees earned, but what have incentivized them to execute multiple distributions?

    It is important to emphasize that even if the 0xSplit architecture allows anyone to execute a distribution permissionlessly, most of the addreses within the Top-20 distribution executors are also listed as guild members, so they intrinsically/extrinsically aligned with the guild.

    0xc57c5... and 0xbf023... on the other hand, stand out among the others because they have altruistically executed between 5-6 distributions with a zero distributor fee.

    Overall, this evidences that executing a distribution for different 0xSplit contracts (with treasury sizes like the ProtocolGuild) could potentially result in higher returns for third-parties even in events of higher network congestion in Ethereum.

    NOTE: In case you want to analyze another community 0xSplit, you can set it to another contract address at the top of the dashboard.