> For the complete documentation index, see [llms.txt](https://docs.loadout.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.loadout.xyz/overview/buybacks-and-burns.md).

# Buybacks and Burns

Buybacks use a designated budget to purchase a token. A burn removes purchased tokens from supply. The funding source and the project's settings determine what actually happens.

### Trading-fee-funded studio buybacks

A studio can allocate part of its own fee share to buying and burning its game token. This reduces the funds the studio retains for development. It does not add another fee on top of the published trading fee.

For example, a 25% buyback share applied to 4 SOL of studio fees assigns 1 SOL to buybacks and leaves 3 SOL for the studio. The percentage is project-specific.

### Fees from the first curve trades

The updated release includes accumulated pre-graduation studio fees in the buyback funding base, including eligible anti-sniper receipts. At graduation, the configured share moves into the project's buyback escrow.

Purchases and burns execute after graduation. Funds assigned to escrow, purchases completed and tokens burned are separate figures. A funded budget does not mean the whole amount has already been spent.

This change follows the deployed release and does not retroactively recover historical fees already withdrawn or spent by earlier projects.

### What a studio can change

The current implementation allows a studio to increase its fee-funded buyback share before graduation. After graduation, decreases can be possible. Read the current project setting and disclosures; do not treat the percentage as a lifetime floor unless the deployed controls enforce one.

### Game-revenue commitments

A studio can separately commit part of its game revenue to buying its token. The commitment should specify the percentage, revenue basis, timing and any cap or tiers.

The studio is responsible for carrying this out and providing evidence. Publishing the commitment on Loadout does not automatically collect Steam or other game revenue. A capped, tiered or uncapped commitment should be read according to that project's exact terms.

### LOAD buybacks

LOAD's own fee allocations and any separately funded platform buyback process are distinct from a game's buybacks. Buying a game token with its studio fee share does not purchase LOAD.

### Track execution

Use the project's buyback information and transaction links to compare allocated funds, completed purchases and burns. Buybacks can reduce supply but cannot guarantee a price or return.

[Fee Structure](https://loadout.gitbook.io/product-docs/overview/fees) explains the fee basis. [Treasury Management](https://loadout.gitbook.io/product-docs/for-developers/treasury) covers what remains available to the studio.