FABLE CONJECTURE

Mechanism

Funding the compute

Long-horizon inference on an open-ended schedule needs a revenue source that does not require anyone to keep writing cheques. $FABLE routes creator fees from its canonical PumpAMM pool into the inference budget. This page sets out the entire schedule, including the parts that are unfavourable.

§1

Two regimes, one discontinuity

A coin lives in one of two fee regimes. On the bonding curve the split is fixed: 0.3% creator, 0.95% protocol, 0% LP, for 1.25% total on every trade in either direction. Nothing about market cap changes this.

At graduation the coin pays a one-time 0.015 SOL fee and acquires a canonical poolon PumpAMM. The schedule now becomes a step function of market cap, computed as spot price × 1 billion tokens. The discontinuity at the boundary is large and counter-intuitive: the creator share jumps from 0.3% to 0.95% — more than triple — while the total fee falls from 1.25% to 1.2%. The protocol share collapses from 0.95% to 0.05% and the creator absorbs nearly all of it.

From that peak the creator rate decays monotonically across 24 further bands to a floor of 0.05%, a 19× reduction. Protocol and LP shares hold flat at 0.05% and 0.2% throughout, so the entire decay is borne by the creator.

§2

What this does not fund

Two consequences follow directly from the schedule, and both cut against the project:

Revenue tracks volume, not price. Fees accrue per trade. A coin that appreciates and then goes quiet generates almost nothing. Market cap enters only by selecting which band applies — and it selects downward.

Success reduces the rate. Moving from the 4201,470 SOL band to the top band cuts the creator rate by a factor of 19. Equal volume at a higher valuation funds materially less compute.

§3

Accrual under the live schedule

Move the sliders to see which band applies and what it yields.

Creator accrual

Creator rate

0.700%

Total trade fee

0.950%

Accrued

14 SOL

≈ Attempts funded

34,999

Band 9,82014,740 SOL. Attempt count assumes $0.06 per run and SOL at $150— both are illustrative, not quoted. Fees are set by pump.fun's contracts and can change without notice.

§4 — Reference

Full fee schedules

Transcribed from the pump.fun fee documentation, last updated 20 May 2026.

Bonding curve — both denominations

Market capCreatorProtocolLPTotal
Any market cap0.300%0.950%0.000%1.250%

Canonical pool — SOL denominated (25 bands)

Market cap (SOL)CreatorProtocolLPTotal
0 4200.300%0.930%0.020%1.250%
420 1,4700.950%0.050%0.200%1.200%
1,470 2,4600.900%0.050%0.200%1.150%
2,460 3,4400.850%0.050%0.200%1.100%
3,440 4,4200.800%0.050%0.200%1.050%
4,420 9,8200.750%0.050%0.200%1.000%
9,820 14,7400.700%0.050%0.200%0.950%
14,740 19,6500.650%0.050%0.200%0.900%
19,650 24,5600.600%0.050%0.200%0.850%
24,560 29,4700.550%0.050%0.200%0.800%
29,470 34,3800.500%0.050%0.200%0.750%
34,380 39,3000.450%0.050%0.200%0.700%
39,300 44,2100.400%0.050%0.200%0.650%
44,210 49,1200.350%0.050%0.200%0.600%
49,120 54,0300.300%0.050%0.200%0.550%
54,030 58,9400.275%0.050%0.200%0.525%
58,940 63,8600.250%0.050%0.200%0.500%
63,860 68,7700.225%0.050%0.200%0.475%
68,770 73,6810.200%0.050%0.200%0.450%
73,681 78,5900.175%0.050%0.200%0.425%
78,590 83,5000.150%0.050%0.200%0.400%
83,500 88,4000.125%0.050%0.200%0.375%
88,400 93,3300.100%0.050%0.200%0.350%
93,330 98,2400.075%0.050%0.200%0.325%
98,240 and up0.050%0.050%0.200%0.300%

Canonical pool — USDC denominated (31 bands)

Market cap (USDC)CreatorProtocolLPTotal
0 59,0000.300%0.930%0.020%1.250%
59,000 100,0000.950%0.050%0.200%1.200%
100,000 200,0000.950%0.050%0.200%1.200%
200,000 300,0000.950%0.050%0.200%1.200%
300,000 400,0000.900%0.050%0.200%1.150%
400,000 500,0000.900%0.050%0.200%1.150%
500,000 600,0000.850%0.050%0.200%1.100%
600,000 700,0000.850%0.050%0.200%1.100%
700,000 800,0000.800%0.050%0.200%1.050%
800,000 900,0000.800%0.050%0.200%1.050%
900,000 1,000,0000.750%0.050%0.200%1.000%
1,000,000 2,000,0000.750%0.050%0.200%1.000%
2,000,000 3,000,0000.700%0.050%0.200%0.950%
3,000,000 4,000,0000.650%0.050%0.200%0.900%
4,000,000 5,000,0000.600%0.050%0.200%0.850%
5,000,000 6,000,0000.550%0.050%0.200%0.800%
6,000,000 7,000,0000.500%0.050%0.200%0.750%
7,000,000 8,000,0000.450%0.050%0.200%0.700%
8,000,000 9,000,0000.400%0.050%0.200%0.650%
9,000,000 10,000,0000.350%0.050%0.200%0.600%
10,000,000 11,000,0000.300%0.050%0.200%0.550%
11,000,000 12,000,0000.280%0.050%0.200%0.530%
12,000,000 13,000,0000.250%0.050%0.200%0.500%
13,000,000 14,000,0000.230%0.050%0.200%0.480%
14,000,000 15,000,0000.200%0.050%0.200%0.450%
15,000,000 16,000,0000.180%0.050%0.200%0.430%
16,000,000 17,000,0000.150%0.050%0.200%0.400%
17,000,000 18,000,0000.130%0.050%0.200%0.380%
18,000,000 19,000,0000.100%0.050%0.200%0.350%
19,000,000 20,000,0000.080%0.050%0.200%0.330%
20,000,000 and up0.050%0.050%0.200%0.300%

These figures are pump.fun's published platform fees and exclude network gas, wallet fees, and any fees charged by third-party interfaces. Fees are determined by the smart contracts; displayed values may not match contract behaviour exactly, and the platform may change them at any time without notice. Nothing here is financial advice or an offer of any security.