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i think we’ve become a little too comfortable measuring a launchpad’s success by how much money it takes from the people using it
trading fees are presented as revenue, buybacks, creator rewards...
but before that money becomes any of those things, someone has to pay it
and that someone is usually the trader
if a platform charges 1% on every trade, the math is straightforward:
• $1 million in total trading volume = $10,000 in fees
• $10 million = $100,000
• $100 million = $1 million
those are illustrative numbers, but the relationship doesn’t change
the platform gets paid whether the community grows or disappears. whether the trader makes money or loses it
i don’t think collecting a percentage of every interaction needs to be the default business model
that’s why i’m building perm.
1. zero protocol trading fees
no percentage taken on buys. no percentage taken on sells. no creator trading fee layered on top
at the same $10 million in volume, removing a 1% fee means $100,000 that participants didn’t have to pay
that doesn’t automatically become liquidity or make the price go up
it simply removes $100,000 of costs
which is already a meaningful improvement
2. no graduation or migration
a token launches on its curve and stays there
there’s no threshold where the community has to move into another market, pay a migration charge or start trading under a different fee schedule
i want people focused on what they’re building around the token, without having to build their entire story around reaching a graduation target
3. something other people can build on
the ambition is an open-source protocol with multiple interfaces, independent builders and communities that can keep going beyond our website
the longer-term commitment is clear, immutable rules that people can inspect for themselves
i’m not claiming this solves bad tokens, speculation or people losing money
i’m saying the infrastructure has a choice about how much it takes
and “this is how every launchpad does it” isn’t a good enough reason to keep doing it
