$TOLL is live.
CA:
7tfmDHe21G7ebrEP1j52qNDNTuFWXiXsgCE4Epn1vzFE
A coin graduates on Tollbooth. Raydium locks its liquidity forever and mints one Fee Key. That key goes to a 24-hour auction, and the winner earns the pool's LP fees for life.
https://t.co/BZ8qYPKbby
My keys lists every Raydium Fee Key in your wallet, Tollbooth keys and any other Burn & Earn key, with the fees waiting on each. Collect builds the harvest transaction and you sign it in Phantom, Solflare or Backpack.
Graduation pays the creator. On top of the 0.25% creator fee on every curve trade, the coin's creator receives half of the winning bid for its Fee Key, sent at settlement, and Raydium's 0.05% creator fee on every swap in the pool after.
Every auction runs 24 hours from the moment the Fee Key lands. The opening bid is 0.1 SOL, each new bid is at least 5% higher, and a bid in the last 5 minutes pushes the end back 5 minutes. An outbid bid comes back within two minutes.
When a coin graduates, Raydium moves its liquidity into a pool, locks it with Burn & Earn so it can never be withdrawn, and mints one Fee Key NFT. The key collects 84% of the 0.25% pool fee, so 0.21% of every swap, for as long as the pool trades.
A key that gets no bid in 24 hours stays with Tollbooth, and its LP fees buy and burn $TOLL for as long as it stays.
It goes back up every Monday at 16:00 UTC until someone wins it.
Every Fee Key auction settles in one go. The key goes to the winner, 50% of the winning bid goes to the coin's creator and 50% buys and burns $TOLL. Each payout carries a memo and its own signature on Solscan.
How a bid works on Tollbooth.
The Booths list live auctions, upcoming coins and sold keys. A bid is one transaction, SOL to the escrow plus a memo, at least 5% over the last one, signed in Phantom, Solflare or Backpack. Outbid SOL comes back within two minutes.
The demo, on the live site.
Launch a coin on Raydium LaunchLab; when it graduates, its Fee Key goes to a 24-hour auction on the Booths. Opening bid 0.1 SOL, every bid 5% higher, and from launch half of every winning bid buys and burns $TOLL.