Economics

Holders mode vs Creator mode

Who receives the 80% of every fee, how holder rewards are computed and claimed, and why the choice can never change.

The choice, once

Before launch the creator picks one of two modes. Each mode is a separate Meteora config, so the choice is encoded in which config the pool was created on. Meteora configs are immutable, and the config's fee claimer and creator fee percentage are the fields that route fees. There is no instruction, in Meteora's program or in owned's, that can move a pool to another config.

Holders mode in detail

Sweeping

Fees accrue on the DBC pool as partner_quote_fee. A crank calls the own program's sweep_curve instruction, which asks DBC to pay the accrued partner fee to the treasury's stock account. After graduation sweep_pool does the same for the locked DAMM v2 position. Both instructions are permissionless; anybody can run them. The program keeps a per-coin ledger of what was swept and what was claimed.

Snapshots and entitlements

Every 24 hours the indexer computes each holder's time-weighted average balance (TWAB) over the epoch from on-chain transfers, reconciled against the ledger. Entitlement for the epoch is proportional to TWAB, which means buying right before a snapshot and selling right after earns almost nothing. The following are excluded:

• the bonding-curve vaults and the DAMM v2 pool vaults;
• the own treasury and any program-owned token account;
• known burn addresses;
• balances below 0.001% of supply (10,000 coins).

Entitlements are cumulative: the crank posts one merkle root per coin whose leaves are each holder's lifetime entitlement. Posting a root costs one transaction and creates no accounts, so distribution cost does not grow with the number of holders.

Claiming

A holder claims the difference between their cumulative entitlement and what they have already claimed. The program verifies the merkle proof against the posted root, transfers the stock from the treasury and records the claimed amount. Nothing expires: an unclaimed entitlement stays claimable for as long as the program exists. Claim all from the Portfolio page batches several coins per transaction. The first claim per coin creates a small claim-status account that the holder pays for (about 0.0016 SOL).

What the program guarantees

• claimed ≤ posted entitlement ≤ swept, always;
• only the crank key can post a root, and only with a total that does not exceed what was swept;
• the treasury PDA has no owner key; it can only move funds through claim.

Creator mode in detail

Fees accrue as creator_quote_fee on the pool and are claimed with Meteora's claim_creator_trading_fee, signed by the creator's wallet. owned builds the transaction on the creator tab; the funds never touch owned. After graduation the creator owns the locked DAMM v2 position NFT and claims its fees with claim_position_fee.

Creators in Creator mode can of course also hold their coin; they simply do not receive holder rewards because there are none.

Which should a creator pick

• Holders mode aligns everybody: every trade grows every holder's stack of shares, which tends to reward holding over flipping.
• Creator mode is a straightforward revenue share for a creator or project that funds work with it.

The token page shows the mode on every card, in the header, and in the rewards tab, so nobody is surprised.