PrimerPadDocs

Economics

Fees and economics

PrimerPad charges one native Meteora DBC trading fee. There is no frontend fee and no swap wrapper. Every fee accrues in the market's quote Primitive.

The policy

Trader pays 1.625%DBC base fee numerator 16,250,000 / 1,000,000,000, dynamic fee off.
PrimerPad 1.001%Partner share, paid to the config's fee claimer.
Creator 0.299%creator_trading_fee_percentage = 23
Meteora 0.325%Fixed DBC protocol fee: 20% of the trading fee.

An anti-sniper fee scheduler starts the fee at 50% and decays linearly to 1.625% over 60 seconds after launch. Fees charged in that window split with the same ratios.

Why the trader fee is not 1.30%

The business goal was 1.00% to PrimerPad and 0.30% to the creator. In DBC the program first takes Meteora's fixed 20% protocol share of the whole trading fee, and only the remaining 80% is split between partner and creator, by an integer percentage. SOURCE CODEstate/config.rs At a 1.30% total fee only 1.04% is distributable, so 1.00% plus 0.30% cannot both hold. PrimerPad therefore sizes the gross fee so the net shares land on target:

Both models are implemented in src/policy/fees.ts; Primer Standard v1 uses NET_TARGET.
ModelTrader paysMeteoraPrimerPadCreator
NET_TARGET (live)1.625%0.325%1.001%0.299%
GROSS_CAP (alternative)1.3%0.26%0.801%0.239%

Fee waterfall

SIMULATIONexact program rounding on micro-units

Trading volume$100,000
Gross trading fee (1.625%)$1,625
Distribution
Volume $100,000 PrimerPad $1,001 Creator $299 Meteora $325

On $100,000 of volume: $1,625 gross, $1,001 PrimerPad, $299 creator, $325 Meteora.

Equations

F = V × 16,250,000 / 109
The fee every trade pays, on the quote side: 1.625% of the trade.
Fmeteora = ⌊ F × 20 / 100 ⌋
Meteora's share comes off the top, rounded down.
Fcreator = ⌊ (F − Fmeteora) × 23 / 100 ⌋,    Fprimer = F − Fmeteora − Fcreator
The creator's share of what remains, rounded down; PrimerPad receives the rest.
F / V = 1.00% / (0.8 × (1 − 0.23)) ≈ 1.6234% → 1.625%
Why the gross fee is 1.625%: solve for F so PrimerPad nets 1.00% with a 23% creator share, then round to the clean value.

Verified on every executed buy: FORK PROOF PUBLIC DEVNET

ProofTotal fee (raw)MeteoraPrimerPadCreatorMatches policy
mainnet: morttest-usdx43738742695804yes
devnet: testhouse-pprimequote-watcher43698732692804yes
devnet: testhouse-pprimequote43698732692804yes
fork: ptest-syrupusdc36827362269677yes
fork: ptest-usdy38117622348701yes
fork: ptest-cptx45209042785831yes
fork: ptest-essx1617323997297yes
fork: ptest-invhx168933378104073108yes
fork: ptest-ieion380307606234276997yes
fork: ptest-tbllx40548102498746yes
fork: ptest-schfx532710653282980yes
fork: ptest-iemgx527710553251971yes
fork: ptest-vgkx512010243154942yes
fork: ptest-ewqx10624212465451955yes
fork: ptest-ewux9551191058841757yes
fork: ptest-ewgx10736214766141975yes
fork: ptest-indaon93700187405772017240yes
fork: ptest-fxion128260256527900923599yes
fork: ptest-ewzon100581201166195918506yes
fork: ptest-ewyx22824561407419yes
fork: ptest-iwmx34686932137638yes
fork: ptest-vtix1164232718214yes
fork: ptest-qqqx576115355106yes
fork: ptest-spyx560112345103yes
fork: credtest-hygon5309510619327079769yes
fork: bondtest-tlton5413110826333459960yes
fork: landtest-vnqon462879257285148516yes
fork: japantest-ewjon442308846272468138yes
fork: morttest-usdx43658732689803yes
fork: testhouse-pprimequote43698732692804yes

Fees accrue in the quote Primitive

Configs use quote-token fee collection: on a buy the fee is taken from the quote input, on a sell from the quote output. PrimerPad never receives the meme token as revenue. FORK PROOFeffective fee measured on both legs

PrimerPad earnsHOUSE / USDXUSDX
PrimerPad earnsTOKYO / EWJonEWJon
PrimerPad earnsBOND / TLTonTLTon

After graduation

The DAMM v2 pool fee is 1.63% (DAMM v2 customizable fees are integer basis points between 10 and 1000, hence 163 rather than 162.5). DAMM v2 takes a 20% protocol share FORK PROOFpool protocolFeePercent = 20, and the remaining LP fees go to the locked positions in proportion to liquidity: about 1.004% to PrimerPad and 0.3% to the creator, still collected in the quote asset.

Raw quote units claimed from the two locked positions after post-migration trades.
ProofPrimerPad LP fees claimedCreator LP fees claimedCreator share
mainnet: morttest-usdx6,9162,06623.00%
devnet: testhouse-pprimequote13,7134,09623.00%
fork: ptest-syrupusdc11,5593,45223.00%
fork: ptest-usdy11,9613,57323.00%
fork: ptest-cptx14,1914,23823.00%
fork: ptest-essx5,0761,51623.00%
fork: ptest-invhx53,03115,84023.00%
fork: ptest-ieion119,38535,66023.00%
fork: ptest-tbllx12,7253,80123.00%
fork: ptest-schfx16,7224,99423.00%
fork: ptest-iemgx16,5664,94823.00%
fork: ptest-vgkx16,0724,80023.00%
fork: ptest-ewqx33,3509,96123.00%
fork: ptest-ewux29,9818,95523.00%
fork: ptest-ewgx33,70210,06623.00%
fork: ptest-indaon294,14487,86123.00%
fork: ptest-fxion402,637120,26823.00%
fork: ptest-ewzon315,74794,31423.00%
fork: ptest-ewyx7,1632,13923.00%
fork: ptest-iwmx10,8873,25223.00%
fork: ptest-vtix3,6521,09123.00%
fork: ptest-qqqx1,80753922.98%
fork: ptest-spyx1,75952522.99%
fork: credtest-hygon166,67549,78623.00%
fork: bondtest-tlton169,92850,75823.00%
fork: landtest-vnqon145,30543,40323.00%
fork: japantest-ewjon138,84741,47323.00%
fork: morttest-usdx13,7004,09223.00%
fork: testhouse-pprimequote13,7134,09623.00%

Creator economics

  • The creator receives about 0.299% of curve-phase volume under the current policy, claimable in the quote asset at any time (claim_creator_trading_fee).
  • At graduation the creator receives a permanently locked DAMM v2 position holding 23% of migrated liquidity. Its trading fees remain claimable.
  • Fee income depends entirely on trading volume. PrimerPad does not promise income or a return.

Primer economics and manual buybacks

PrimerPad receives about 1.001% of curve-phase volume and the 77% locked LP position's fees. These accumulate in each market's Primitive, so the treasury holds a mix of USDX, TLTon, EWJon, VNQon, HYGon and future assets.

PrimerPad volumetrading on PrimerPad markets
Quote-asset feesaccrue natively in each market’s quote Primitive
Primer treasuryclaimed by the fee claimer
Manual buybackfounder-operated, not automated
$PRIMER purchaserecorded in the buyback ledger
Burn / policy actionrecorded with its transaction

Not automated

$PRIMER buybacks are performed manually by the founder. No automated buyback mechanism is deployed. Each manual buyback can be recorded in the buyback ledger for transparent accounting. See buyback ledger.

See also: Treasury accounting, LP lock, Glossary: protocol fee