Fees and burns
Fees burn. Listings burn. Nothing is paid out.
Where every dollar goes
| Money | Goes to | Then |
|---|---|---|
| Open and close fees | Fee vault | Swapped to $FLOAT and burned, daily |
| Spread | Stays in the reserve | Part of the house trading result |
| Reserve above target | Released once a day | Swapped to $FLOAT and burned |
| Listing a new index | Burned directly | 2,000,000 $FLOAT per listing |
| $FLOAT creator fees | Reserve | 15% of each receipt to the ops wallet |
The team is paid 15% of $FLOAT's trading fees and nothing from positions.
How a burn works
Each daily burn is two separate, public transactions: a swap of USDC for $FLOAT through Jupiter, then a burn of exactly what the swap returned. Both are listed with their signatures on the Token page.
What never happens
- No fee is paid to $FLOAT holders.
- No reserve money goes anywhere except a winning close, a liquidation settlement, bad-debt settlement, or the burn path.
- The fee vault has no exit except the burn path.