Docs · Pools
Fees and the recapture split
How reel is paid on a pool: its share of block fees, what integrators and referrers take from it, and how each arbitrage recapture splits.
The base LP fee is the LPs’
Every swap pays the pool's base LP fee, and 100% of it goes to the pool's LPs as fee growth. reel takes none of it. The same holds for the advisory surcharges: Market Guard, the market-hours fee, the managed fee and the agent-tier fee are LP-only.
The protocol share of block fees
Block fees are the charges Hook Blocks add: the Snipe tax, the dynamic fee, Storm Fee, LP Rewards, Auto Burn, Swap Cut, Exit Clock, Sandwich Guard, the zap cut and the reward slice. Each is split first: the protocol share s goes to reel, the rest to the block's destination. A creator picks s at launch, from the config's floor (20% in the spec's initial config) up to 50%, and it is frozen with the pool.
Every fee rounds up, so the trader pays the dust; every split rounds down, so the LP or the destination keeps it.
Integrators and referrers
The protocol's cut of a swap, P, is the block-fee shares plus the burn's quote part, the minimum fee and recapture's protocol part. It is divided before any of it reaches the treasury:
- Integrator:
floor(P × integrator_bps / 10⁴), where the rate (at most 50% of the cut) is copied from the root's or the listing'sIntegratorwhen the pool opens, and never changes after. - Referrer:
floor(P_blocks × referral_bps / 10⁴), whereP_blocksisPwithout recapture, paid only while the trader's referral link is live, to the referrer's claim ledger. - Protocol: the rest, to the PROTOCOL bucket and from there to the treasury.
The trader pays the same either way: integrators and referrers are paid out of reel's cut, never added on top.
Worked example
Sample settings, not live data. A buy of 1 SOL on a pool with a 0.3% base fee, LP Rewards 2%, Auto Burn 1% and a 20% protocol share:
| Charge | Amount | To LPs | To reel |
|---|---|---|---|
| Base LP fee 0.3% | 0.003 | 0.003 | — |
| LP Rewards 2% | 0.020 | 0.016 | 0.004 |
| Auto Burn 1%, quote part | 0.002 | — | 0.002 |
| Total | 0.025 | 0.019 | 0.006 |
The curve receives net = 0.975 SOL. Of the tokens it pays out, 0.8% (1% × (1 − 20%)) is burned from the base vault and the buyer gets the rest. Exact amounts are in atoms, and the SDK's test vectors pin them.
The recapture split
On a pool running Arb recapture, a swap that closes a price gap against the pool's reference pays a charge on the arbitrage profit, not on the swap. At the defaults, with King of the Pool on:
| Of each unit of arbitrage profit | Share |
|---|---|
| Arber keeps | 25% |
| Protocol | 15% |
| Gap opener | 10% |
| King of the Pool pot | 12.5% |
| LPs, streamed | 37.5% |
reel's part is the config's recapture rate (15% of profit in the spec), to which the integrator split applies; referrers take no part of it. The gap opener is the last on-curve wallet, signing at top level, whose swap widened the gap; if there is none, or it is the same wallet, that part goes to LPs. The LPs’ part streams into fee growth over release_secs. A stale or missing reference skips recapture; it never refuses the swap.
Other fees
- Usage fee (a Hook Blocks Market block): the block's builder and backers share it at the split fixed when the block was published; reel takes 20% and the block's reserve 10%.
- Minimum fee: 0.1% of a swap on a new token's pool that pays the protocol nothing else: see Minimum fee.
- Launch fee: set by the admin, at most 0.01 SOL per launch, paid to the treasury; 0 in the spec's initial config.
- Root fee: at most 1 SOL to open an owned root.
The admin can change these for future pools and launches only. Existing pools keep the terms they opened with.