Fee Race Markets

Fee race markets ask: Which established Bags.fm token will generate more fees during the market window?

Market format

"Which token will generate more fees before [deadline]: $TOKEN_A or $TOKEN_B?"

YES — Token A generates more fees during the window
NO — Token B generates more fees during the window

Why fee delta, not total fees?

💡

Fee race markets use fee delta — not total lifetime fees. Only the fee growth during the market window determines the outcome.

Two tokens with very different lifetime totals could be neck-and-neck during a specific week. Using delta levels the playing field and makes the market more meaningful.

Example:

$ALPHA has 500 SOL lifetime fees. Earns 8 SOL during the window.
$BETA has 50 SOL lifetime fees. Earns 12 SOL during the window.

Result: $BETA wins — despite having 10× fewer total fees, it generated more during the window.

Resolution formula

At market creation:
  start_fees_A = current lifetime fees of Token A
  start_fees_B = current lifetime fees of Token B

At deadline:
  end_fees_A = lifetime fees of Token A
  end_fees_B = lifetime fees of Token B

delta_A = end_fees_A - start_fees_A
delta_B = end_fees_B - start_fees_B

if delta_A > delta_B  →  YES wins (Token A)
if delta_B > delta_A  →  NO wins (Token B)
if delta_A == delta_B →  NEEDS_REVIEW (tie)

The start fees are snapshotted at market creation and are shown in the market’s resolution section.

Data source

Fee data comes from the Bags.fm lifetime-fees API:

GET /api/v1/token-launch/lifetime-fees?tokenMint={mint}

This is an official Bags.fm endpoint. Both tokens are queried at resolution time.

Eligible tokens

Only MIGRATED (graduated) tokens are eligible for fee race markets:

Must have completed graduation to Meteora DAMM v2
Must be reachable via Bags.fm lifetime-fees API
Both tokens in a pair must be different

Eligible tokens are identified by Cupdiction admins. New fee race markets are created periodically as new tokens establish fee history.

Resolution states

State	Trigger
Open	Window not yet closed
Pending Recheck	Bags.fm fees API unavailable at deadline; retry on next oracle cycle
Needs Review	Both deltas exactly equal (tie)
Resolved YES	Token A’s delta > Token B’s delta
Resolved NO	Token B’s delta > Token A’s delta

Who should trade these markets?

Fee races are better suited for informed traders than graduation markets:

Both tokens are established with public fee history on Bags.fm
You can research each token’s recent activity before trading
Resolution is objective and verifiable

Good strategies:

Look at recent fee trends on bags.fm before the market opens
Consider events (announcements, listings, CT activity) that might drive fee spikes
Compare community sizes and trader concentration for each token

What about wash trading?

Fee data comes from real Bags.fm trades. Wash trading on a bonding curve or DAMM pool requires capital and carries costs. While manipulation is theoretically possible, it is expensive relative to typical market stakes. Cupdiction does not take action on wash trading at this stage — resolution is purely mechanical based on the API data.

Graduation Markets Resolution & Oracle