Merkle Trade
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Fee Distribution

For Early Access phase, Entry/Exit fees are collected then distributed to MKLP (50%), Governance fund (30%), and Dev fund (20%).
Most of the fees are distributed to LPs as they are taking the protocol risk and to incentivize more LPs to join. The increase of TVL in LP helps the protocol grow overall by increasing the maximum position a trader can hold at once, or the maximum open interest per pair.
The proportion that goes into dev fund will gradually decrease as we further decentralize the protocol and will be fully diverted to the protocol.