> ## 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.

# Buybacks

> How Raydium trading fees route into buybacks and how to verify the flow on-chain.

<Info>
  12% of Raydium trading fees are used to buy back RAY. Bought-back RAY is held by the protocol at a public on-chain address.
</Info>

## Flow at a glance

```text theme={null}
Swap fee
  -> LP share
  -> RAY buyback share
  -> Treasury share, where applicable
```

For CLMM and CPMM pools, the trading-fee split is:

```text theme={null}
84% to LPs
12% to RAY buybacks
4% to treasury
```

For Standard AMM v4 pools, the trading-fee split is:

```text theme={null}
88% to LPs
12% to RAY buybacks
```

## What buyback share means

The buyback percentage applies to the **trading fee**, not to the full trade amount.

Example: a pool charges a `0.25%` swap fee. The buyback share is `12%` of that fee.

```text theme={null}
Trade amount:       1,000 USDC
Swap fee:           1,000 * 0.25% = 2.50 USDC
RAY buyback share:  2.50 * 12% = 0.30 USDC
```

The effective buyback amount is `0.03%` of the trade amount in this example.

## Collection addresses

Protocol-side fees are collected by program-specific addresses before being converted or routed.

| Source          | Collection address                            |
| --------------- | --------------------------------------------- |
| CLMM            | `projjosVCPQH49d5em7VYS7fJZzaqKixqKtus7yk416` |
| CPMM            | `ProCXqRcXJjoUd1RNoo28bSizAA6EEqt9wURZYPDc5u` |
| Standard AMM v4 | `PNLCQcVCD26aC7ZWgRyr5ptfaR7bBrWdTFgRWwu2tvF` |

Collection addresses can hold many different tokens. Each pool pays fees in the tokens it trades, so a collection address may hold USDC, wSOL, RAY, or other SPL tokens before routing.

## Buyback holding address

Bought-back RAY is held at:

```text theme={null}
DdHDoz94o2WJmD9myRobHCwtx1bESpHTd4SSPe6VEZaz
```

You can inspect this address directly on Solscan or with SPL Token tooling:

```bash theme={null}
spl-token accounts --owner DdHDoz94o2WJmD9myRobHCwtx1bESpHTd4SSPe6VEZaz
```

## Why buybacks are on-chain

Raydium's buyback flow is auditable from public addresses and transaction history.

* **Balances are visible:** collection and holding addresses can be inspected by anyone.
* **Transfers are traceable:** incoming fee transfers and outgoing routing transactions are public.
* **No private accounting is required:** the chain is the ledger for the flow.

## How to verify a buyback flow

1. Open a Raydium swap transaction in Solscan or Solana Explorer.
2. Identify the pool program and fee transfers.
3. Match protocol-side fee movement to the relevant collection address.
4. Inspect outgoing transactions from the collection address.
5. Confirm RAY accumulation at `DdHDoz...VEZaz`.

For the complete address map, see [`ray/treasury`](/ray/treasury).