Earnings, the fee vault and SURPLUS
What the fund earns, what the protocol keeps, and where it goes.
§1 Holding costs nothing
US100 has no management fee. The protocol earns only from what the sleeves earn.
§2 What the fund earns
- Twin-sleeve swap fees, paid by swappers into the sleeve’s reserves
- Lend-sleeve interest, paid by Kamino borrowers
Reading the program’s configuration…
§3 The fee vault and the token
The fee vault is a program PDA with no signer; it accrues from the first harvest. The protocol’s whole fee share buys SURPLUS through Jupiter and burns it.
The whole supply of 1,000,000,000 goes to a public fair launch on equal terms. The developer allocation is the developer’s own first buy in the launch.