> For the complete documentation index, see [llms.txt](https://docs.henjin.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.henjin.xyz/henjinai-protocol/protocol-earnings.md).

# Protocol Earnings

<figure><img src="/files/yO3sa88XS0PIyX19plU2" alt=""><figcaption></figcaption></figure>

### Trading fees (AMM)

Trading fees are split between LPs, HENJ stakers, Operations and Algebra License.

{% hint style="info" %}
Henjin has upgraded to v4. A big part of this upgrade involves dynamic fees on trading pools. Read more about the [dynamic fee model](/henjinai-protocol/amm-v4/dynamic-fees.md).
{% endhint %}

<figure><img src="/files/W0BiOvKK7CsiXxOLbiKo" alt=""><figcaption></figcaption></figure>

### Fair launch fees

2 types of fees are generated through fair launches :&#x20;

* a 5% fee of the total raise sent to the Henjin Treasury ;
* a 3% fee of any referral to fair launch participation (anyone can create a referral link).