> For the complete documentation index, see [llms.txt](https://stonkfun.gitbook.io/stonkfun-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://stonkfun.gitbook.io/stonkfun-docs/core-concepts/burn-and-earn.md).

# Burn & Earn and Fee Keys

Every StonkFun launch locks its liquidity through Raydium's Burn & Earn program.

## What locking does

When a Raydium position is opened, a position NFT represents ownership of it. Whoever holds that NFT can add liquidity, remove liquidity, and collect fees.

Burn & Earn consumes that NFT, creates a permanent lock record, and mints a Fee Key NFT in its place.

```
Position NFT  ──[Burn & Earn]──►  Lock record (permanent)
                                   +
                                  Fee Key NFT ──► can collect fees, forever
```

The Fee Key can do exactly one thing: harvest the fees that position has accrued. It cannot withdraw liquidity, close the position, or change its range.

The liquidity is gone as an asset and permanent as a market.

## Two positions, one pool

Every launch opens two positions across the same tick range and locks both.

| Position | Fee Key owner       | Standard launch  | Reward launch    |
| -------- | ------------------- | ---------------- | ---------------- |
| 1        | Platform            | 50% of liquidity | 90% of liquidity |
| 2        | Creator or flywheel | 50% of liquidity | 10% of liquidity |

Because both positions span identical ticks, each one's accrued fee is exactly proportional to the liquidity it holds. The ratio of the seeded amounts is the fee split, with nothing more complicated to model.

Both positions are seeded in a single transaction, so a launch can never end up with one side funded and the other empty.

## What the creator's Fee Key entitles them to

On a standard launch the Fee Key is minted directly to the wallet that paid for the launch. It is an ordinary NFT: transferable, sellable, and the sole authority over that position's fees.

From the token page or the API, the wallet holding it can read what has accrued in both tokens, sign a narrowly scoped harvest transaction, and receive the tokens directly into its own accounts. See [Creator fees](/stonkfun-docs/earning/creator-fees.md).

{% hint style="warning" %}
The fee stream follows the NFT. If you move or sell the Fee Key, whoever holds it is who can claim. The locked liquidity itself cannot be lost either way.
{% endhint %}

## The platform's Fee Key

The platform's Fee Key on every pool is harvested automatically, and its proceeds fund `$STONK` buybacks and the treasury. See [Platform revenue](/stonkfun-docs/earning/platform-revenue.md).


---

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