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The protocol's share

Montra's part of every fee, 0.4% of each trade on every tier, goes to the treasury until the launchpad's own token, MONTRA, exists. Once MONTRA's buyback is switched on, 70% buys MONTRA back and burns it, and 30% goes to the treasury.

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The launchpadFrom day one
Montra runs on the official Uniswap v4 on Elysium, and anyone can launch.
The protocol's share: 100% to the treasury, in HYPE
MONTRALater
The launchpad's own token launches. Its creator is the team's multisig.
The protocol's share: still the treasury's
The buybackOnce switched on
The team's multisig switches the buyback on: it buys MONTRA in its own pool and burns all it buys, each of its sales capped at 5% of the pool's depth a day.
The protocol's share: 70% buyback and burn · 30% treasury

From day oneThe launchpad
Montra runs on the official Uniswap v4 on Elysium, and anyone can launch.
The protocol's share: 100% to the treasury, in HYPE
LaterMONTRA
The launchpad's own token launches. Its creator is the team's multisig.
The protocol's share: still the treasury's
Once switched onThe buyback
The team's multisig switches the buyback on: it buys MONTRA in its own pool and burns all it buys, each of its sales capped at 5% of the pool's depth a day.
The protocol's share: 70% buyback and burn · 30% treasury

Figure 1. The order of things. The launchpad runs from its first day; the split changes once, when the buyback is switched on.

The protocol's share: 0.4%; Of every trade, on every tier. It can be lowered for a pool, never raised.
Until MONTRA: 100% treasury; Paid in HYPE.
Once its buyback starts: 70% / 30%; Buyback and burn of MONTRA / treasury.
The buyback's pace: 5% a day; Of MONTRA's pool depth, for each of its sales: a cap the team sets.

How fees become HYPE or MONTRA

Fees arrive in whatever each pool is paired with. The fee market turns them into HYPE for the treasury, and the buyback's into MONTRA, with one standing sale per currency rather than one per launch.

A price from the pools: The keeper reads the rate the pools pay for a currency, net of their fees, and posts it as the sale's reference. A sale for HYPE sells nothing on a reference more than 5 minutes old.
Falling to a floor: Each sale's price starts just above the reference and falls toward a floor a little under it: 1% for most currencies, 3% for memes and stock tokens, 1.5% for the buyback.
Filled through the pools: The keeper fills the sales through Uniswap pools. Anyone may fill the treasury's too (Run a keeper), and the sale is paid its price either way.

The buyback

Switched on by the multisig: The team's multisig switches it on. Until then all of the protocol's share is the treasury's.
Buys and burns: Only the keeper fills the buyback's sales: it buys MONTRA in MONTRA's own pool and burns all it buys in the same transaction, so MONTRA's supply falls.
Paced: Each of its sales is capped at 5% of the depth of MONTRA's pool a day, a cap the team sets, so the buyback does not spike the price. Anything above it waits in the vault for later days.