Sources & assumptions

Historical comparisons

Daily fee productivity = total trading fees ÷ sum of daily liquidity × $1,000. The main charts compare gross fees, not net LP returns. Different assets, routes and liquidity placement prevent attributing all differences to the controller.

Controller formula

Fee = base + maximum premium × volatility response × liquidity-use response

Each response ranges from zero to one. The controller adds a market-dependent premium to the base trading fee.

Full Sail and Meteora DAMM v2 support broad liquidity coverage and adaptive fees. CLMM can use full range, and DLMM can fund broad price ranges; placement and fee policy are separate choices. Dynamic fees do not establish superior LP outcomes or explain every observed advantage.

A higher fee can reduce trading volume; fee revenue depends on both.

The historical controller used a one-hour lookback, recalculated every five minutes and published when the fee changed more than 10% relative to its existing value. Fee parameters and controller logic can be upgraded within reviewed deployment permissions; this does not imply unrestricted contract changes. Confirm settings and permissions before relaunch.

Liquidity-model comparison · Full Sail documentation · Algebra fee-design reference

LP calculation

Your monthly fees = trading volume × average fee × LP allocation × your eligible share

Eligible share = your deposit ÷ total equally eligible liquidity. With fixed volume, more capital dilutes fee share. In turnover-linked mode, volume scales as an explicit demand assumption, not as a causal claim. Actual range and time in range affect eligibility. The modeled 80% LP allocation is not a confirmed fee-sharing term.

All calculator outputs cover one 30-day month. Operator revenue applies to the whole pool; position LP fees apply only to the entered deposit.

For starting deposit D and SUI price ratio r, full-range 50/50 inventory is D × √r; holding the original basket is D × (1+r)/2. Add one month of dollar-valued fees without reinvestment. USDC stays at $1. This is a constant-product benchmark, not a concentrated-position backtest; costs, trading-path effects and changing demand are excluded.

LP calculator · Full-range return method

Liquidity, turnover and monthly volume

Monthly volume = average pool TVL × daily turnover × 30

Daily turnover is total trading volume divided by summed daily reported TVL. The reference below uses every complete calendar month in the common SUI/USDC history. Partial September and March are excluded from monthly bounds. These observations describe one pool; they do not establish a causal or scalable relationship between liquidity and demand.

Sources: Monthly inputs CSV · Original SUI workbook. Turnover ranges from 1.1720× to 2.6419×; realized trading fees range from 0.1786% to 0.1936% in these months.

Bear uses 1×, below the lowest observed complete month; Base uses 2×, inside the historical range; Bull uses 4×, a growth assumption 51.4% above the observed monthly high. These labels describe conditional activity, not probabilities or price forecasts. With $2M liquidity and 30 days, monthly trading is $60M/$120M/$240M. At 0.18% trading fees, gross pool fees are $108,000/$216,000/$432,000. The modeled 80% LP allocation produces $86,400/$172,800/$345,600 in pool LP fees; the 20% operator allocation produces $21,600/$43,200/$86,400 before costs.

These cases require 2.13×/4.25×/8.51× January 2026 observed volume of $28.21M. Repeating turnover at larger TVL requires more absolute demand; 4× is not a historical monthly result. Routing, competition, asset mix, incentives and price conditions can change turnover and realized fees.

The business table applies 1×/2×/4× turnover, a 30-day month, 0.18% trading fee and 20% operator share to each liquidity amount. At $50M, this requires $1.5B/$3B/$6B monthly trading and produces $540K/$1.08M/$2.16M operator revenue. These are expansion sensitivities, not demonstrated Full Sail capacity. Revenue is before costs, partner splits or investor distributions.

The calculator links volume to total eligible liquidity only when its scaling checkbox is enabled. Disable it to model fixed demand and dilution. At zero liquidity, modeled pool trading and fees are zero. Actual concentrated-range eligibility and inventory changes remain separate.

Fee-rate sensitivity

The main model uses a 0.18% trading fee and 20% operator share. Lower realized fees reduce revenue proportionally.

Revenue is before operating costs and partner distributions. Fee rate, turnover and allocation are model inputs, not committed economics.

Adjust the model →

Market sources

Historical Sui DEX volume sums DefiLlama daily spot-DEX observations across each UTC calendar month, using the September 25, 2026 data vintage. Price context uses Binance monthly SUI/USDT and BTC/USDT opens/closes. These observations do not estimate a causal price-to-volume multiplier.

Sui DEX series · Monthly-price method

Launchpad + DAMM evidence

The main comparison uses H1 2026 because the report explicitly describes DBC bonding and DAMM v2 graduated partner pools. Pre-graduation gross fees were $7,466,372; post-graduation $43,318,746; total $50,785,118. The post share is 85.298%, and post/pre is 5.802×. These stages contain different token populations, exposure durations and trading demand; the ratio is not an estimate of the causal uplift from DAMM.

DAMM fee schedules and optional dynamic fees can increase the charge on executed trades; fee sharing determines who receives it. Higher rates can also divert volume. Published aggregate results do not isolate dynamic-fee uplift, and not every DAMM pool necessarily enables dynamic fees. No controlled DAMM-specific comparison was found in the official financial reports and published case studies reviewed. The business inference is that pairing distribution with continuing fee-generating liquidity is viable; whether Blast reproduces it must be tested.

Launchpad → trading venue

Meteora provides a working precedent for pairing token creation with a fee-generating exchange. Its launchpads use a bonding curve before graduation and DAMM pools afterward. The table covers the launchpad-partner category from April 2025 through June 2026, across changing tokens and partners; it is not a fixed cohort or a meme-only sample.

Five quarters, both stages

After-graduation fees total $148,293,469, or 74.73% of $198,444,853 across both stages. These are gross trading fees, not protocol revenue or net LP returns. The 2025 and H1 2026 totals are separate, non-overlapping periods. The sources attribute these tables to Blockworks Research; we checked the published figures and arithmetic, without re-running the underlying on-chain queries.

Of post-graduation fees, $19.70M accrued to Meteora in 2025 and $7.90M in H1 2026. These protocol-revenue amounts are included within gross trading fees; do not add them to the chart totals. Migration fees are a separate revenue line.

2025 report · fees p27, revenue p29 · H1 2026 report · fees p3, revenue p6 · Exact quarterly data · CSV · Definitions & calculations · JSON

Bags → Meteora DAMM v2

Bags’ January 2026 documentation describes a DBC launch curve with an 85 SOL threshold, followed by DAMM v2 trading. Meteora identifies Bags as 95% of attributable H1 launchpad activity. That is an activity share, not a measured fee share: the chart’s dollars belong to the full partner category, not Bags alone. Believe is another integration named in the 2025 report.

Bags liquidity model · Bags contribution · H1 report p8 · Meteora graduation mechanics

Why it matters for Blast + Full Sail

The agreed Blast + Full Sail integration pairs asset origination and graduation liquidity with continued trading, alongside Full Sail’s major-pair markets. Agreement does not establish launch readiness. Confirm routing, usable liquidity, fee-sharing terms and spot-pool safety before launch; scale against retained trading.

The precedent establishes a business model, not Full Sail’s future scale or superiority over other pool designs. Q2 2026 partner fees fell 84.5% from Q1. No constant run rate, TVL-normalized yield or dynamic-fee causal advantage is inferred. The reports describe a DBC + DAMM v2 partner stack; older DAMM v1 graduation also exists, and the stage totals do not prove every pool enabled dynamic fees. Other Meteora DLMM activity is excluded. Revenue projections elsewhere retain their own explicit assumptions.

Design & operating sources

• Uniswap: concentrated liquidity
• Meteora: DAMM v2
• Meteora: DLMM mechanics
• Full Sail: liquidity modes

Operating history crosses the August 2026 vault incident and September sunset. Recent trailing totals are not a normal run rate. The relaunch remains subject to technical review and agreed operating terms. Incident review · Sunset announcement