| Destination | Share of fees |
|---|---|
| Buyback & MakeProgrammatically buys $PRP from the pool. 25% is burned, 25% is distributed to stakers. | 50% |
| Skew Insurance ReserveDeposited straight into PrismPerpVault to absorb black-swan tail risk before token holders see it. | 30% |
| Relayer & Keeper SubsidyPays the oracle keepers and batch settlers, so that running them is economic at any volume. | 20% |
PrismPerp takes 0.06% of settled notional. That is the whole fee. There is no spread markup, no withdrawal fee and no priority lane sold to a market maker.
50% — Buyback and make
Half the fee buys PRP from the pool programmatically. Of what it buys, half is burned and half is distributed to stakers. The buy pressure is a function of volume rather than of sentiment, which is the only kind worth having.
30% — Skew insurance reserve
Deposited straight into PrismPerpVault. This is the portion that never reaches token holders, deliberately: a venue quoting volatility with a thin insurance layer is a venue that eventually socialises a loss, and a token whose collateral backstop is underfunded is not worth the yield it pays.
20% — Relayer and keeper subsidy
Oracle keepers and batch settlers have to be paid enough to keep running when gas is expensive and volume is thin. Underpaying keepers is the cheapest possible way to make an exchange unreliable at exactly the moment reliability matters.
What compounds
- Volume raises fees, which raises buyback, insurance depth and keeper reliability together.
- Deeper insurance allows higher position limits, which attracts larger desks.
- Reliable keepers tighten the index, which narrows spreads and lifts volume again.
- The skew fee keeps the book two-sided so the vault is never the crowded counterparty.