Creator fees
The protocol receives an allocated share of eligible venue swap fees; it doesn't tax token transfers.
Two markets, two fee streams#
The token trades on its launch or spot venue. Perpetuals trade on SubLiquid. Eligible token swaps can create a fee entitlement for the creator. SubLiquid receives its allocated share, while the exchange later earns separate fees from perp fills.
An app's own terminal, referral or routing fee isn't automatically owed to SubLiquid. The underlying venue, pool configuration and recipient rights determine the creator receipt.
The receipt path#
- An eligible token swap generates a venue fee.
- The venue accrues the configured creator entitlement.
- The treasury receives or claims its allocated share.
- Non-USDC receipts are converted under slippage limits.
- Settled USDC is allocated to market vaults and insurance.
Each receipt needs a unique source event. Pending claims, token market capitalization and estimated fees aren't spendable market capital.
A worked illustration#
| Monthly eligible token swaps | $10,000,000 |
|---|---|
| Effective creator component | 30 bps |
| Creator entitlement | $30,000 |
| Modeled treasury route | 80%, or $24,000 |
| Conversion haircut | 2% |
| Received USDC | $23,520 |
| Market vaults / insurance | $18,816 / $4,704 |
These are scenario assumptions, not guaranteed demand or final venue terms. The 80% entitlement route and the subsequent 80/20 capital allocation are different decisions.
Venue selection#
The venue remains undecided. Curve and post-graduation rights must both support the required treasury route. Fee rates can change by venue, pool and tier. A direct-to-holder reward mode may replace the creator stream rather than supplement it.
See Pump's fee documentation and Raydium's creator-fee documentation.