Fees
Every swap in a market pool pays the LP fee the creator chose at launch, between 1% and 3%. The fee accrues to the two liquidity positions the launchpad owns. Every 15 minutes the keeper collects it, and the treasury writes it to a ledger in a fixed split.
The split
| Share | Goes to | Delivered as |
|---|---|---|
| 40% | holders of the market token, pro rata | the market's pair coin, sent to each wallet |
| 30% | $HASHPAD buyback |
swept coin → USDG → ETH into the Buyback contract, which buys $HASHPAD and burns it |
| 30% | protocol | swept coin → USDG → ETH to the protocol address |
There is no creator share. The creator's only lever is the fee rate itself, and it is fixed for the life of the pool.
What is collected
Fees arrive in both assets of the pool. When a buyer pays in the pair coin, the fee is taken in coin. When a seller pays in the token, the fee is taken in token. At collection, collectFees withdraws both, credits the coin portion to the ledger in the 40 / 30 / 30 split, and holds the token portion as pendingToken.
Token-denominated fees are not distributed as tokens. At payout time the keeper sells pendingToken for the pair coin through the Treasury and the router, and the resulting coin is split the same way. Holders are always paid in the pair coin and never in the market token.
The ledger
Every market has a ledger with four balances, readable on-chain through ledgerOf(token):
| Field | Meaning |
|---|---|
holdersCoin |
pair coin owed to holders and not yet paid |
buybackCoin |
pair coin awaiting sweep to the buyback |
protocolCoin |
pair coin awaiting sweep to the protocol |
pendingToken |
market tokens awaiting sale for coin |
Pool fees along the route
The peg pool's 0.30% fee and the V3 WETH/USDG pool's 0.01% fee are Uniswap pool fees rather than hashpad.fun fees. The peg pool's fee accrues to the PegManager's two ranges and is folded back into the ask and bid at the next reprice. The V3 pool's fee goes to that pool's own liquidity providers. Neither reaches holders.
Fees on $HASHPAD itself
$HASHPAD is launched on Pons and trades there, first on a bonding curve and then in a Uniswap v4 pool. Every trade at either venue pays a 1% Pons fee. Pons keeps 30% of it and pays 70% to the launch's creator-fee recipient, which is the hashpad.fun Buyback contract. Those fees are claimed by the buyback and burned with everything else. See $HASHPAD.