Fees and incentives

Trading fee

Starts at 2.5 percent at MVP and targets 1 percent over time as depth and volume grow. This fee is split between custodians, liquidity providers, and auditors. The exact split is published per pool.

Custodian allocation

On each admitted deposit, 10 percent of newly minted vault tokens are allocated to the custodian for seeding. This is an allocation at mint, not a fee on trades.

Seeding guidance

To keep expected tickets inside 1 percent price impact, size depth to roughly 100 times the median ticket for constant product pools. For concentrated liquidity, target 50 to 100 times inside the active band and choose a band that contains normal volatility.