Teaps
The half that stays
two percent of every trade leaves as dividends. a further one percent does not leave at all: it becomes liquidity in pools that already trade. the treasury buys both sides and collects a proportional share of the fees those pools are already paying, so the protocol earns a share of other people's volume.
Where a trade dollar goes
| 2.00% | holders | swapped into each wallet's own tokens. a constant in the contract, not a setting. |
| 1.00% | protocol-owned liquidity | buys both legs and takes a position in a pool that already trades, forever. |
| 0.85% | protocol and team | running costs and the work that keeps the payroll moving. |
| 0.15% | the crank that pays everyone | gas for the keeper, sized against the measured cost: settlement runs at 0.10% of volume by construction. |
| 1.00% | launchpad | taken by the launchpad before any of this reaches the protocol. |
the 2% to holders is a constant in the contract, not a parameter. what remains splits between liquidity, operations and the keeper.
How a position gets made
the treasury share collects
one percent of every trade lands in the treasury as eth and waits until it is worth deploying, so every position is larger than the gas that opens it.
both sides, bought at market
the eth is split in half and buys each side of one pair. wrapped ether is wrapped rather than swapped, so no pool fee is paid on ether the protocol already holds.
a full-range position
liquidity spans the entire price range, so it never falls out of range and never needs rebalancing. it keeps earning in every market.
the thinnest pool is funded next
positions are ranked by what has already been spent on each, so the treasury spreads across its pools instead of compounding whichever was funded first.