ALGORAND FEES 2022

This dashboard here intrinsically look into the transaction fee that are paid by the users for performing transactions in the ecosystem since the beginning of this Year.

Introduction

The Algorand Foundation now controls the Algo wallet that receives transaction fees from Algorand's blockchain. Based on the 0.001 ALGO/transaction charge, the amount of Algo collecting in this wallet in the foreseeable future is and will remain minimal.Also Using an ASA is no more expensive than using Algos for sending and trading.

Since the minimum amount needed in the account must be larger if it also carries ASAs, there is an indirect cost. The minimum amount is 0.1 Algos if the account exclusively holds Algos. The needed minimum is 0.1 Algos times the amount of ASAs it holds plus one if there are ASAs. For instance, a USDT-holding Algorand account must have a minimum balance of 0.2 Algos.

The Foundation will consult with the community on how these collecting fees might be used to best assist the ecosystem once the daily transaction volume hits a point where the quantity of Algo kept in the wallet is considerable. Algos in a fee sink can only be issued as participation prizes as of right now. Should the community decide to do so, a consensus upgrade might alter this.

Methodology

Thw queries used here initially looks into the transaction done by the users in the ecosystem since the beginning of this year and then investigates the fee amount that is paid by the wallets as a token for performing transaction,which is aggregated for date to see the fee generated by the ecosystem by transactions.Then the wallets that pay the most fee which indeed say the wallets that have performed most number of transactions are accounted for and finally the total amount in ALGO that is collected as Fee by the ecosystem since the beginning of this year is considered.

This table here indicates the fee amount generated by summing the fee and by aggregating it for each date since January 2022.

The chart representation here shows the daily fee collected as part of the transactions by the ecosystem and it is seen that the highest fee collected is on January 7,2022 which worth approximately 6k ALGO tokens.

This table gives information about the most active wallets in the ecosystem where they have made most number of transactions recently and hence paid most amount as transaction fees.

This chart here shows the activeness of the users in the ecosystem with the top 1000 recent users who had made the most transactions. It is seen that the highest transaction that is made by a single user accounts for 124254395.Note that the chart is plotted in the Logrithmatic scale for better representation.

The same Log scale is also followed here and it displays the wallets that have made the most transactions in the ecosystem and hence paid the most fees. Indeed since the usual fee is 0.001 ALGO the fee collected can be easily calculated from the transactions and vice versa.For example, the fee collected for the highest transaction 124254395 will be 124254.395

Now we get an idea about the transactions and their fees but then to get an overview that 0.001ALGO can also make a drastic change is when we see this huge amount that is collected just by fees.So this amount here is the Fees generated and collected by the ecosystem as part of the transactions made by the users.