After an Economy Launches
Once liquidity is seeded, the token goes live as a token economy with permanently locked liquidity and built-in fee logic.
The fee is built into the token itself. It functions similarly to a swap fee and lives in the token itself, not in any one pool. This protects the token economy from sophisticated strategies that would otherwise capture trading fees meant for the economy’s participants. The total token fee amounts to 1.15%, combined with the 0.10% swap fee at the DEX level, making the total net cost to traders 1.25% across all chains. The fee routes value to different destinations depending on how the launch was set up and which chain it launched on: LP incentives, Boardwalk, issuer recipients, and depending on the chain, a referrer or an integrator allocation.
Locked liquidity
Locked liquidity means the seeded position cannot be withdrawn. It does not mean price stability, guaranteed exits, or protection from market risk. Trading risk after launch is normal market risk.
Where liquidity lives
When users add or remove liquidity through Boardwalk, the token’s built-in fee does not apply. This liquidity lives in v2-style pools paired with the chain’s raise token, with a swap fee of 0.1% set at the DEX factory level.
The fee exemption only applies to liquidity added through Boardwalk’s standard pools. The built-in fee makes sophisticated strategies attempting to capture trading fees outside of these pools uneconomical. In practice, liquidity for Boardwalk-launched tokens tends to live in standard pools as a result.
Fee schedules by chain
Base and Katana
Advanced: 0.30% issuer and issuer-designated, 0.05% referrer, 0.30% Boardwalk, 0.23% issued-token LP incentives, 0.27% integrators, 0.10% swap fee.
Express: 0.30% issuer and issuer-designated, 0.35% Boardwalk, 0.23% issued-token LP incentives, 0.27% integrators, 0.10% swap fee.
Fraxtal
Advanced: 0.30% issuer and issuer-designated, 0.05% referrer, 0.30% Boardwalk, 0.25% issued-token LP incentives, 0.25% integrators, 0.10% swap fee.
Express: 0.30% issuer and issuer-designated, 0.35% Boardwalk, 0.25% issued-token LP incentives, 0.25% integrators, 0.10% swap fee.
Ethereum Mainnet
Advanced: 0.35% issuer and issuer-designated, 0.05% referrer, 0.30% Boardwalk, 0.25% issued-token LP incentives, 0.20% integrators, 0.10% swap fee.
Express: 0.35% issuer and issuer-designated, 0.35% Boardwalk, 0.25% issued-token LP incentives, 0.20% integrators, 0.10% swap fee.
Disclaimer: future chains may have different fee schedules.
Note: the total net swap-fee equivalent for traders is 1.25%. For Advanced token launches, if a referrer is not set, that portion defaults to Boardwalk.
The anti-sniper window
Right after liquidity is seeded, the anti-sniper window kicks in. The fee starts at 40% and decays down to the token’s base fee over the first 90 minutes after launch. After that, the base fee applies permanently.
Fee routing
The token sends its fee amount into a fee distributor, which splits that amount according to the launch setup. The system is built so token transfers do not fail if one downstream forward has a problem — failed allocations accumulate in pending balances and can be retried permissionlessly. Fees allocated to LP Participants are collected on a weekly epoch basis after liquidity seed and stream to stakers over the following epoch, so there is always a one-epoch lag between when fees accrue and when they reach stakers.
How issuer fee claims are paced
Each issuer fee recipient can claim up to 10% of their unclaimed balance once every 24 hours. The claim converts into the raise token at the time of the call, with the recipient supplying their own slippage protection and deadline. On an Advanced launch with multiple issuer recipients, each recipient’s 24-hour clock runs independently.
If a recipient’s unclaimed balance is small enough that 10% would round to zero, the full unclaimed amount becomes claimable in one call. Integrator claims follow a separate pacing rule: each integrator can claim up to 25% of their unclaimed balance per token every 24 hours, with a similar small-balance escape. Integrators can also claim across multiple tokens in a single call.
Fee-exempt actions
Some system actions do not trigger the built-in fee: token claims after the auction cliff, vesting claims, LP staking fee flows, and adding or removing liquidity through Boardwalk.