Every swap in the FOLIO pool pays a 2.5% protocol fee (hard-capped on-chain at 5%) through a Uniswap v4 hook, taken in the pool's paired currency — never as a tax inside the token. It splits three ways: 1% buys your stocks (the USDG distribution vault, accruing continuously, 24/7), 1% funds the KotH buyback-and-redistribute, and 0.5% goes to the treasury.

The pool also runs a 1% LP fee — and the protocol's seed liquidity is locked in a contract that cannot withdraw principal, ever (the withdrawal function simply does not exist). Its accrued LP fees are the platform's revenue, so the liquidity floor never leaves the pool. All-in, a swap costs 2.5% + 1% = 3.5% each way — and because rewards are pull-based claims with no eligibility floor, more of it reaches you than push-based 3% alternatives that burn most of their stream in delivery gas.

At each market-hours settlement the vault buys the AGGREGATE demanded basket — the sum of every eligible holder's stack — on Uniswap, and each holder is credited their own stocks at oracle prices:

The vault balance, the hook's fee setting, and every past epoch are public on treasury — the promised numbers and the on-chain numbers sit side by side.

Every unique stack composition has a deterministic identity, its folioId — a hash of exactly which tokens, at exactly which weights. The first holder of a composition may tokenize it, which requires a registered matching stack and 100,000 FOLIO.

Tokenizing launches that folio's own coin on a bonding curve, and it can never be tokenized again, by anyone, enforced on-chain. 100% of the coin's ongoing fees fill that folio's community pot — paid to wallets that hold the composition's underlying stocks (bought anywhere; your share grows with their value and how long you hold them, √-dampened so whales can't dominate), gated by holding $25+ of FOLIO. No FOLIO, no payout — and no registered stack or folio-coin balance is required.

Explore live folio tokens — composition, holders, reward epochs, and claims — on folios.

Research on frictionless trading apps links engagement mechanics to worse financial outcomes. folio takes the opposite posture, on purpose:

• No streaks, badges, confetti, or celebration when money moves.
• No push notifications or nudges to trade, buy, or "act now."
• The 30-minute clock is an accrual cadence, not a scarcity timer — rewards pile up and wait, nothing expires, and there is never a deadline to race.
• Deliberate friction where value moves: sends and claims always restate the exact amounts, the recipient, and their irreversibility before you confirm.

If folio is ever boring, that is working as intended: register a stack, hold, and check in when a distribution lands.