Pricing and commercial models

How each Turtle product is priced: who pays, the cost shape, and where to learn more.

Turtle has one commercial principle and several products that apply it differently. Protocols pay to attract liquidity. Distributors earn a share of what their liquidity generates. LPs pay nothing to Turtle. This page covers each product’s model at a high level; for the exact configuration of any one, follow the link in that section.

This page is for the protocol or distributor deciding whether to work with Turtle and wanting to know what it will cost or pay before they read the product details.

At a glance

Attract liquidity (you pay)

Product	Who pays	Cost shape	Where to learn more
Liquidity Campaigns	The protocol	A fee on Turtle Network TVL over time, set per liquidity campaign	This page, below
Streams	The protocol	Creation fee plus the funded reward budget	Before you start

Distribute (you earn)

Product	Who pays	Cost shape	Where to learn more
Earn	Funded by yield	Revenue share to the distributor	Turtle Earn

Liquidity Campaigns: charging on Turtle Network TVL

Turtle charges Liquidity Campaigns on net new Turtle Network TVL using a deterministic, auditable attribution system. To keep it auditable and avoid subjective reconciliation, Turtle runs two parallel ledgers:

• Ledger A: Attribution Ledger
• Ledger B: TVL Ledger

Fees are calculated by reconciling these two ledgers against a campaign-specific whitelist of eligible wallets.

Ledger A: Attribution

Records wallet interaction with:

• The Turtle front end
• A Turtle Earn SDK-integrated front end
• (If applicable) an approved distributor front end

A wallet that meets the selected engagement criteria is added to a campaign-specific whitelist.

Ledger A determines who qualifies.

Ledger B: TVL

Tracks:

• The Total Value Locked (TVL) of whitelisted wallets
• Within the specified protocol/opportunity
• From the campaign go-live date forward

Turtle charges on TVL over time, not deposit/withdrawal flow. This removes manipulation risk, looping behavior, and cross-interface complexity. TVL is objectively verifiable at the protocol level.

Defining “Turtle Network TVL”

For each opportunity, the two ledgers are reconciled with one another. Ledger A tells us who to refine Ledger B down by. Ledger A can take different parameters to widen or reduce the scope of whitelisted users; Ledger B always remains as is.

The reconciliation process:

1. Attribution List: identify qualified wallets from Ledger A (qualified whitelist).
2. TVL Figures: pull TVL of those wallets from Ledger B (Turtle Network TVL).

Attribution list configuration (Ledger A parameters)

This is how the scope of users is refined. For most projects Turtle charges on the default model of campaign-specific Turtle Network TVL. For projects Turtle is more involved in or that are earlier stage, it charges on all Turtle Member TVL. For projects where Turtle is instrumental to growth, it charges on all TVL.

Campaign-Specific Turtle Network TVL (default, infrastructure model)

Measures growth only from wallets that engaged with Turtle infrastructure (front end or SDK) for the specific opportunity after the launch date.

“Did this user deposit to this opportunity through Turtle?”

When used: the default institutional standard, where attribution must be strictly infrastructure-verifiable and opportunity-specific.

Turtle Member TVL (ecosystem model)

Measures growth from verified Turtle member wallets, excluding balances that existed prior to membership, after the launch date.

“Is this user a Turtle member?”

When used: when Turtle contributes meaningful distribution across its member base but is not the sole driver of total protocol growth.

All TVL (protocol growth model)

Measures total protocol growth from the listing date, regardless of wallet source, after the launch date.

“All users were made aware of this through Turtle.”

When used: where the bulk of protocol launch, distribution, and capital formation is driven exclusively by Turtle.

Fee structure

Fees are applied to Turtle Network TVL. The rate and the introductory window are set per liquidity campaign in the commercial agreement. The incentive window begins at campaign go-live, not per LP deployment.

In a dispute, Ledger A provides whitelist qualification evidence and Ledger B provides protocol-level TVL snapshots (every 12 hours). The reconciliation is auditable and reproducible.

Streams: creation fee plus reward budget

A Streams campaign is self-serve, so the protocol funds it directly rather than being billed on TVL after the fact. The cost has two parts: a one-time creation fee and the reward budget you fund, which is the total amount of tokens the campaign pays out over its run. The creating wallet must already hold both before the stream starts. Point streams have no on-chain funding and no creation fee.

The exact creation fee, funding rules, and how the budget relates to your chosen reward model are documented on the Streams pages, not restated here so there is one source of truth.

Streams: before you start

Funding prerequisites and the budget decisions to make first.

Create a stream

The creation flow, including the fee and total on the review screen.

Earn: distributor revenue share

Distributors do not pay Turtle. They earn. A distributor that routes liquidity into Turtle vaults earns a share of the yield generated by the deposits attributed to it, paid out as recurring revenue share for as long as that TVL stays.

Revenue share rates are configured per distributor in the Client Portal rather than published as a single public rate, so they are not listed here.

Turtle Earn

How distribution and revenue share work, and how to get set up.