How padpad works

Tokens start on a curve

Every token on a pad starts on a bonding curve. The curve sells the token for SOL at a price that rises as people buy and falls as they sell. Each token on a pad shares the pad's curve: the same supply, the same starting market cap and the same raise.

Graduation

When a token's curve has raised its target, the token graduates. Its liquidity moves into a pool on the venue's exchange (Meteora DAMM v2, PumpSwap or Raydium CPMM) and trading carries on there. Pad pages and trade tickets follow the token from the curve to the pool on their own.

Every trade pays a fee

Each trade, on the curve and in the pool, pays a trading fee. That fee is split in four:

For a 1% fee on Meteora DBC with 30% of the rest to each token's creator, that comes to 20% for Meteora, 24% for the creator, 10% for padpad and 46% for the pad's blocks.

The pad's part reaches the router

How the pad's part is collected depends on the venue:

• Meteora DBC and Raydium LaunchLab. padpad's fee splitter program holds the pad's role on the venue. Each time fees are claimed, the splitter pays padpad's 10% and sends the rest straight to the pad's router wallet. It holds nothing in between.
• pump.fun. Every token made on the pad shares its creator fee between its creator and the pad's router wallet. The share is written into the token's create transaction and cannot be changed. The router pays padpad's 10% out of what it receives.

The router pays it out

The router works on passes, hourly unless the pad chose otherwise. On each pass it reads every trade on the pad's tokens, collects the fees due, and routes the pad's part through the fee plan: buys and burns, holder payouts, the jackpot pot, liquidity, treasuries and the rest. Every movement is recorded and shown on the pad's fees page with its transaction. The router covers a pass step by step.

What is fixed and what can change

Fixing the economics at launch lets creators and traders rely on them. The page is yours to keep fresh: see After launch.