Fees

GoBack
DocsFees::how the program runs them
contents
  • At a glance
  • One fee per trade
  • Four lines
  • The quote is the execution
  • Reading a receipt
  • Positions at exit value
  • Rent is not a fee
docs
LaunchBlockTermsFeesCalls

Fees

one fee

What a trade pays, who receives it, and how you see it.

  • per trade
    one fee
  • lines
    protocol, creator, call slice, pool share
  • who pays
    everyone the same: creator, follower, anyone
  • calls
    following never raises the fee
  • receipts
    every trade, claim and graduation
  • quotes
    match execution exactly
  • positions
    shown at exit value, after fee and impact
  • rent
    shown apart from the fee, with how it comes back

01One fee per trade

Every buy and sell pays one fee: the coin's curve rate while it is on the curve, its pool rate after graduation. The rate comes from the coin's terms, so the creator, a follower of a call and any other wallet pay the same rate on the same coin.

02Four lines

protocol
to the program address seeded protocol
creator
accrues on the coin for its creator, who claims it in SOL
pool share
stays in the market's reserves
call slice
on a buy that follows a call, part of the protocol line, held for that follower until the call settles

Protocol and pool shares round down and the creator receives the remainder, so the lines always add up to the fee. A buy that follows a call pays the same total; its call slice comes out of the protocol's line.

03The quote is the execution

Quotes are computed with the same integer math the program runs, against the coin's current reserves. A quote fixes a bound from your slippage: the least you receive on an exact-in trade, the most you pay on an exact-out one. The transaction carries that bound, and the program refuses anything outside it.

A quote holds for a short time, which the trade panel counts down, and is asked for again when it lapses. On a local validator, a buy's indexed receipt matched its quote to the lamport.

04Reading a receipt

Every trade, claim and graduation emits an itemized receipt from the program. The coin page lists a coin's receipts and the portfolio lists a wallet's; each row opens to its lines:

gross
the all-in SOL of the trade
fee lines
protocol, creator, call slice, pool share
net
what went into or out of the market
tokens, price
the amount, and the price it executed at
price impact
how far the trade moved the price
unused, burned
SOL a capped buy didn't spend; tokens burned at graduation
call
the call the trade followed
transaction
its signature, linked to the explorer

05Positions at exit value

The portfolio values each position at what selling all of it now would pay, after the fee and the price impact of that sale. Cost basis comes from your indexed buys; a token transfer from outside fix marks it unknown.

06Rent is not a fee

token account
a Token-2022 account for the coin in your wallet, 170 bytes, opened by your first buy and yours to close
call position
opened by your first buy through a call, returned to you when the call settles

Quotes show rent on its own lines, with how it comes back.

Receipts are events the program emits. On a local validator, a buy's indexed receipt matched its quote to the lamport, and the money tests pass 18 of 18.

←previousTermsnextCalls→