Launch or trade a coinstep 4 of 5

Fees

Coin trades on the curve pay a fee in the card token, shared between Meteora, the coin's creator and pokedex. pokedex's share is split between the class treasury, which can only be burned, and the protocol.

On this page

Who gets what of a curve trade

Curve trading feeCharged on every curve trade, in the card token.

Meteora20% of the fee

Coin creator40% of the fee (half of the rest), claimed on Meteora

pokedex (partner)40% of the fee, claimed to the fees account, then split

Class treasurytreasury_bps of it, in the card token

Protocol recipientthe rest, in the card token

The split as measured by the test suite with a 1% curve fee and a 50% creator share.

The curve fee and the creator's share are set in each market's config. With the default config (a 1% fee and a 50% creator share), the test suite measures the split of every fee as:

Party	Share of the fee	Paid in	How it is collected
Meteora	20%	Card token	Kept by Meteora
The coin's creator	40% (half of the rest)	Card token	The creator claims it on Meteora directly
pokedex (partner)	40%	Card token	`claim_curve_fees`, permissionless, into the `fees` account, then split

So a coin's creator earns in the card of its class.

Every fee stream

Stream	Where it builds up	Currency	Who collects	Instruction
Curve fee, partner share	The coin's curve	Card token	Anyone, to the `fees` account, then split	`claim_curve_fees`
Curve fee, creator share	The coin's curve	Card token	The creator, on Meteora	Meteora's own
Curve fee, Meteora share	Meteora	Card token	Meteora	Meteora's own
Surplus past the threshold, partner share	The curve's pool after migration	Card token	Anyone, then split	`claim_surplus`
Graduated pool fees	The partner's locked DAMM v2 position	Card token side split; coin side swept	Anyone	`claim_lp_fees`, then `sweep_coin`
Coin balances of the `fees` account	The `fees` account	Coin	Anyone, to the protocol recipient	`sweep_coin`
CARD/SOL pool fees	The CARD/SOL position	SOL	Whoever holds that pool's position NFT	Meteora DAMM v2 directly

The split

split moves the fees account's whole card-token balance:

floor(total x treasury_bps / 10,000) to the class treasury, and
the rest to the protocol recipient's card-token account.

treasury_bps is at most 10,000. It and the protocol recipient are set by the card-launch admin. sweep_coin moves the fees account's whole balance of one coin to the protocol recipient: that covers graduated pool fees paid in the coin and leftover coins Meteora sends at migration.

The class treasury

Each class has a treasury account holding card tokens. No instruction spends from it. The only way out is burn_treasury (permissionless), which burns its whole balance.

The cards stay in the vault when it burns, so every remaining card token is then backed by slightly more than 1/1,000 of a card. Fees turn into over-collateralization that anyone can check on chain.

What a launch costs

launch_coin charges no fee of its own, and the default config has no pool creation fee and no migration fee.

The rest of this path

Solana mainnet

Written from the protocol, security and card documents of the pokedex repository and from its code (card-vault, card-launch, cp-ix). Every figure on these pages comes from there.