> ## 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 CPMM for every new launch.
2. CPMM LP tokens are minted.
3. Before the 2026-08-17 upgrade, `creatorScale` produced a creator-owned Fee Key. Migrations executed afterward combine the stored platform and creator scales into one platform-owned locked-LP share. The remaining share is burned.
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. |

For updated migrations, the platform Fee Key holder earns from the locked LP-share side of the trade fee. Creator Fee Keys from migrations completed before the upgrade continue to earn according to their existing locked-liquidity records. The CPMM creator fee is separate and is claimed through creator-fee collection.

## Creator revenue streams

A creator can have two fee-counter streams under the updated program. A creator may also hold a Fee Key created by a pre-upgrade migration. The platform holds the newly migrated LP-fee rights after the upgrade:

| Source                          | Mechanism                                                     | Typical claim path       |
| ------------------------------- | ------------------------------------------------------------- | ------------------------ |
| Bonding-curve creator fee       | Pre-migration vault                                           | `claimCreatorFee()`      |
| CPMM creator fee                | `creator_fee_rate` on the CPMM config                         | `collectCreatorFee()`    |
| Historical creator LP fee share | Creator Fee Key from a migration completed before the upgrade | Burn & Earn harvest flow |
| Updated platform LP fee share   | Platform Fee Key from a migration executed after the upgrade  | Burn & Earn harvest flow |

These do not replace each other. Preserve ownership from historical Fee Key records, but do not attribute a Fee Key created by the updated migration flow to the token creator.

## 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)