Fee Allocation
Every entry fee is split into three pools:
| Pool | Share | Purpose |
|---|
| Rewards | 60% | Distributed to top finishers in each cohort |
| ADX Buyback | 25% | Swapped from USDC to ADX via Jupiter V6 on cohort settlement |
| Raffle | 15% | Funds raffle prize drawings for all participants |
Entry Fee Schedule
| Tier | Entry Fee | Typical Cohort Size | Revenue per Cohort |
|---|
| Sprint | $1 | 256 | $256 |
| Scout | $2 | 128 | $256 |
| Ranger | $5 | 96 | $480 |
| Veteran | $10 | 64 | $640 |
| Elite | $25 | 32 | $800 |
| Apex | $50 | 16 | $800 |
ADX Accrual Mechanisms
Five channels drive ADX demand:
| Channel | Mechanism |
|---|
| Direct buyback | 25% of every entry fee swapped USDC → ADX via Jupiter V6 on settlement (lib/competition/buyback.ts). Requires BUYBACK_WALLET_KEYPAIR env var; falls back to recording intent as “pending” if not configured. |
| Funded trader revenue share | Revenue share paid in ADX |
| Staking requirement | Funded levels require minimum ADX stake |
| World Cup entry | ADX stake required for World Cup registration |
| Specialist bonus | ADX stake multiplier on specialist challenge bonuses |
Revenue Projections
At steady state with all tiers active:
| Metric | Monthly Estimate |
|---|
| Total entry fee revenue | ~$3,200 per rotation |
| Rotations per month | ~4 (Scout 7d, Ranger 10d, etc.) |
| Gross monthly revenue | ~$12,800 |
| ADX buyback (25%) | ~$3,200/month |
| Protocol trading fees (8bps on competition volume) | ~$2,160/month |
These projections assume default cohort sizes. Revenue scales linearly with
participation — 2x traders = 2x revenue, since entry fees are fixed per tier.
Funded Trader Revenue Share
Funded traders earn a share of protocol fee revenue based on their tier:
| Level | Revenue Share | Projected Monthly (at $10M volume) |
|---|
| Watchlist | 150 bps | $15,000 shared |
| Funded | 450 bps | $45,000 shared |
| Senior Funded | 700 bps | $70,000 shared |
| Captain | 1,000 bps | $100,000 shared |
| Partner | 1,500 bps | $150,000 shared |
