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

> ## Agent Instructions
> Treat Solana and Robinhood Chain as separate protocol paths.
> Write for people using the KEK.PRO app.
> Treat displayed fees, limits, and availability as environment-specific unless labeled as protocol constants.

# Solana fee rights

> Understand the token-lock auction, capped payout, permanent winning lock, and repeat rounds on Solana.

Solana fee rights determine who receives one token market's configured
fee-rights allocation from KEK.PRO protocol fees.

When no active position exists, the allocation goes to the configured creator
recipient. An active owner receives it until the position's SOL-denominated
payout cap is consumed.

<figure className="kek-figure kek-figure--solana" data-mark="LOCK" aria-labelledby="solana-rights-cycle-title">
  <div className="kek-figure__header">
    <span id="solana-rights-cycle-title">Fee-rights round / ownership cycle</span>
    <small>Token lock · capped payout · repeat</small>
  </div>

  <div className="kek-figure__body">
    <div className="kek-flow kek-flow--five">
      <div className="kek-flow__node is-live"><span>01 / Creator</span><strong>Fallback recipient</strong><small>Receives the allocation before an active position.</small></div>
      <div className="kek-flow__node"><span>02 / Bid</span><strong>Lock launched token</strong><small>Cumulative eligible token amount determines rank.</small></div>
      <div className="kek-flow__node"><span>03 / Settle</span><strong>Winner locks forever</strong><small>Losing bidders can reclaim after settlement.</small></div>
      <div className="kek-flow__node"><span>04 / Own</span><strong>Collect to the cap</strong><small>Eligible SOL or WSOL payout consumes the cap.</small></div>
      <div className="kek-flow__node"><span>05 / Close</span><strong>Start a new round</strong><small>The allocation returns to the fallback between positions.</small></div>
    </div>
  </div>

  <figcaption className="kek-figure__caption"><strong>Permanent lock is not a burn.</strong> A payout cap is a maximum, not a promised return.</figcaption>
</figure>

## Fee source

The same fee-rights position follows a Solana market through migration:

| Market phase  | Eligible fee flow                                      | Payout assets               |
| ------------- | ------------------------------------------------------ | --------------------------- |
| Bonding curve | Configured fee-rights slice of each curve trade        | SOL                         |
| Raydium CPMM  | Configured fee-rights slice claimed from the locked LP | WSOL and the launched token |

After migration, the WSOL payout consumes the cap. The launched-token payout
follows the active owner while that collection also pays the owner WSOL.

See [protocol fees on Solana](/solana/fees) for the reviewed rates and
allocations.

## How an auction round works

1. After the creator grace period, the first eligible bid starts the auction.
2. You bid by locking the launched token. Your cumulative token amount
   determines your rank.
3. The round settles after its timer ends or the leading bid reaches the
   early-settlement threshold.
4. The winner's tokens move to the permanent lock. Losing bidders can reclaim
   their tokens.
5. The winner receives the fee-rights allocation until the payout cap is
   consumed.
6. The exhausted position can close. The allocation returns to the configured
   creator recipient, and a new auction can start.

## Reviewed auction defaults

| Rule                 |   Default |
| -------------------- | --------: |
| Creator grace period |  `7 days` |
| Auction duration     | `3 hours` |
| Payout multiplier    |      `5×` |
| Secondary-sale fee   |   `0.50%` |

Auction timing, tiers, and minimum bids are configurable.

## Bidding

Bids use the launched token. A bid must clear the active tier's minimum SOL
value. The highest eligible token amount wins.

* Winning tokens are permanently locked.
* Losing bidders can reclaim after settlement.
* The winner receives a capped fee-rights position, not LP ownership.
* Revenue depends on eligible fee flow and market activity.

At settlement, the protocol revalues the winning lock against the live bonding
curve. The payout cap is the lower of the live bid value and the tier ceiling,
multiplied by the configured payout multiplier.

## Position market

An owner can list the active position at a fixed SOL price. Listing pauses fee
claims. A buyer receives the remaining payout cap, not a reset position.

The public **Fee Market** currently lists Robinhood Chain positions only.
Solana fee-rights state belongs on the Solana token page where that panel is
enabled.

<Warning>
  Permanently locked tokens are not burned, and a `5×` payout cap is not a
  guaranteed return.
</Warning>