fee routing

every trade on hehe.fun pays a 2.5% total fee. Meteora's DBC + DAMM v2 stack splits that fee at the protocol level into two pieces, and we split the partner piece three ways via our on-chain distribution program.

§the split, top to bottom

at the PoolConfig level, the trade fee is set to 2.5% and Meteora's protocol share is 20% of that. during the curve phase we set creator_trading_fee_percentage = 0 so the entire partner cut routes to us — the distribution program then handles the 80/10/10 fan-out.

§what comes back to you via staking

64% of the total trade fee — and 80% of our partner cut — comes back to people who stake (1.60 / 2.5 = 64%, 1.60 / 2.0 = 80%). this is the structural rebate the brand promise rests on — it's not marketing, it's the math of the numbers above.

§why creators earn 0.20% rather than a per-trade royalty

Meteora's DBC PoolConfig exposes a creator_trading_fee_percentage knob that lets the curve route a slice of the partner cut directly to the creator's wallet. we set it to zero during the curve phase, then redistribute via our own program:

1. uniform creator economics across curve and post-graduation. the creator receives 0.20% of every trade from launch through forever — they don't see a step-up or step-down at graduation. simpler to communicate, simpler to model.
2. single distribution path. routing through one program means one accounting truth — same 80/10/10 split applied to the partner cut, whether the source is the curve or the locked-LP claim.
3. memecoin trading should reward the people taking the bag risk. the holder/staker is the one who stays in; the creator's 0.20% cut is a real income share — meaningful, but not the load-bearing income stream. the staker pool is.

if a creator wants a larger per-trade royalty, they should launch on a platform that prioritizes that. our platform prioritizes the staker.

§the per-token silo principle

a token's partner-cut collections stay in that token's staker pool — never cross-subsidize other tokens.

if $SNAX does 100 SOL in volume, our 2.0% partner cut collects 2 SOL — of which 1.6 SOL routes to $SNAX stakers via time-weighted share. it never funds a different token's stakers, never pools at the platform level.

why this matters:

• incentive locality — holding $SNAX means betting on $SNAX's success specifically
• transparency — you can audit any token's fee accrual independently
• alignment — the platform doesn't pick winners; we collect proportionally and route proportionally

§post-graduation: where the SOL keeps coming from

after a token graduates, the bonding curve closes. no more curve trades → no more curve-phase partner cut.

but the staker pool keeps growing because at graduation, Meteora DBC migrates the curve's liquidity into a DAMM v2 pool with a permanent_lock_position LP — 100% of the partner-side LP is locked forever and keeps accruing trade fees the whole time. our fee-distribution program claims those accrued partner fees from the locked position on a schedule and splits them the same way:

the LP cannot be unwound by anyone — that's a verifiable fair-launch property of the permanent_lock_position policy. the underlying liquidity stays in the pool forever; only the accrued trade fees against our locked position get claimed.

so the routing diagram is identical before and after graduation, by design — only the source of the partner cut shifts:

• before grad: curve trade → 2.0% partner cut → 80/10/10 split
• after grad: DAMM v2 trade → 2.0% partner cut accrues against locked LP → claimed by us → 80/10/10 split

staker yield = trade × 1.60% in both phases — meaningful per-trade flow that compounds with the token's lifetime volume.

more on graduation mechanics →

§what we don't charge

explicit list of fees we're not collecting:

• no spread. the curve trades at math-defined prices. no hidden bid/ask gap.
• no MEV. the curve is the only counterparty; no orderbook to front-run.
• no unstake fee. unstaking is free. it resets your time-weight, which is the only cost.
• no claim fee. claiming costs only gas.
• flat launch fee: 0.02 SOL to treasury (covers infra + ops). plus SPL mint rent (~0.005 SOL) + gas. that's the entire launch cost — no percentage, no tiered listings, no premium placement.
• no creator-only premium. no two-tier system where some creators pay extra for placement.

if you find a fee we collect that isn't on this page, it's a bug. file an issue.