Kaito and Virtual's launchpad have explained the destination of trading fees. The essential reason is that the new generation of Dev profit model has shifted from primarily selling coins to primarily earning fees from the pool.

Under Virtual's launchpad system, the Virtual token is used as the trading pair, and a portion of the fees earned is distributed to the project parties, which is a great way to give back to the entire builder system. Interestingly, projects on Virtual require a longer build cycle and lack continuous means to gain exposure, relying solely on product success. Therefore, they chose to launch on Base instead of Sol, encouraging users to lock their tokens, which did not maximize leverage fee income.

On the other hand, Kaito's projects inherently come with exposure, so they decided to share fee income with Skaito stakers, incentivizing collaboration between stakers and Yap users, while generating long-term stable value capture for Kaito. Higher exposure - more transactions - more fees is the foundation of this flywheel.

For projects on the Kaito Launchpad, the perspective of distributing tokens to Yappers is not based on expecting diamond hands (I don’t believe most people won’t sell), but rather to replace the value of Yappers from price performance to trading volume generated by attention, which seems much more reasonable.