> ## Documentation Index
> Fetch the complete documentation index at: https://docs.raydium.io/llms.txt
> Use this file to discover all available pages before exploring further.

# LaunchLab & CPMM fee reference

> End-to-end fee flow for LaunchLab tokens from bonding curve trading through CPMM migration.

LaunchLab tokens have two trading phases, and each phase has its own fee model. Do not collapse these into one "creator fee" in UI copy or accounting.

## Fee lifecycle

### Phase 1: Bonding curve

Every bonding-curve trade can include four additive fees:

| Fee          | Set by                                  | Recipient             |
| ------------ | --------------------------------------- | --------------------- |
| Protocol fee | LaunchLab global config, `tradeFeeRate` | Raydium               |
| Platform fee | Platform config, `feeRate`              | Platform claim wallet |
| Creator fee  | Platform config, `creatorFeeRate`       | Token creator vault   |
| Referral fee | Per-transaction, `shareFeeRate`         | Referrer wallet       |

Fees that accrue to platform and creator vaults must be claimed. Referral fees are transferred directly during the trade.

## Migration

When the bonding curve reaches the graduation target:

1. Liquidity migrates to the configured Raydium pool.
2. For CPMM migration, LP tokens are minted.
3. `migrateCpLockNftScale` controls whether LP tokens are burned or locked through Burn & Earn for the platform and creator.
4. `cpConfigId` determines which CPMM `AmmConfig` the migrated pool uses.

## Phase 2: CPMM pool

After migration, CPMM swaps can include:

| Fee              | How it works                                                                |
| ---------------- | --------------------------------------------------------------------------- |
| Trade fee        | Deducted from swap input and split among LPs, protocol, and treasury.       |
| CPMM creator fee | Additional fee deducted from swap input and attributed to the pool creator. |

Fee Key NFT holders earn from the LP-share side of the trade fee. The CPMM creator fee is separate and is claimed through creator-fee collection.

## Creator revenue streams

A creator can have up to three separate revenue streams:

| Source                    | Mechanism                             | Typical claim path       |
| ------------------------- | ------------------------------------- | ------------------------ |
| Bonding-curve creator fee | Pre-migration vault                   | `claimCreatorFee()`      |
| CPMM creator fee          | `creator_fee_rate` on the CPMM config | `collectCreatorFee()`    |
| LP fee share              | Fee Key NFT from locked LP tokens     | Burn & Earn harvest flow |

These do not replace each other. If all are enabled, they must be tracked and claimed separately.

## Common gotchas

* CPMM creator fees are not carved out of the trade fee. They are additional.
* Fee Key NFT rights are LP-fee rights, not CPMM creator-fee rights.
* Standard CPMM pools created outside the LaunchLab migration path do not automatically have CPMM creator fees.
* Burned LP tokens leave liquidity in the pool permanently, but no wallet can claim the fees represented by the burned share.

## Pointers

* [LP fee distribution](/products/launchlab/tips-and-gotchas/lp-fee-distribution)
* [How creator fees work](/user-flows/how-creator-fees-work)