Even after the change, Tron still holds a significant lead in revenue among layer-1 blockchains, including Ethereum, Solana and BNB Chain.
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Tron’s recent fee reduction has significantly cut into the revenue earned by its block producers, to a new report from CryptoQuant.
The total daily network fees for Tron’s block producers, known as Super Representatives, dropped to $5 million on Sept. 7, the lowest level in over a year. That’s a 64% revenue decline in 10 days, down from $13.9 million the day before lower fees were implemented.
Onchain data shows that average gas fees on Tron have decreased by 60% after the network implemented a proposal slashing the energy unit price from 210 sun to 100 sun. Gas fees are transaction costs paid on the Tron network, measured in its smallest unit, called sun.
Tron Proposal #789, labeled “Decrease the transaction fees,” went live on Aug. 29 after a vote from the Super Representative community.
Community member GrothenDI issued the proposal in August, that lower transaction fees would “ensure the sustainable and healthy development of the Tron ecosystem.”
GrothenDI estimated that cutting the gas fees to 100 sun from 210 sun could result in an additional 12 million potential transfers from users. One TRON () equals 1 million sun, the lowest divisible part of TRX.
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Although Proposal #789 reduced gas fees on Tron, the blockchain still leads other layer-1 chains in revenue, to data from Token Terminal.
Over the past seven days, Tron captured 92.8% of total revenue among layer-1 networks, ahead of Ethereum, Solana, BNB Chain and Avalanche. Fees generated from transactions on Tron amounted to $1.1 billion over the past 90 days.
Ethereum has led revenue generation over the past five years with $13 billion, compared to Tron’s $6.3 billion.
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