> For the complete documentation index, see [llms.txt](https://degen-capital-1.gitbook.io/degen-capital-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://degen-capital-1.gitbook.io/degen-capital-docs/degen-capital/tokenomics/the-release-schedule.md).

# The Release Schedule

A round's fee take is paid across 5 rounds, not one.

Fees follow volume, and volume is loudest at launch. Paying each round everything it collected would make the opening enormous and every quiet round after it a disappointment.

So a round does not spend its own take.

![A round's fees, paid across five rounds](https://3552858075-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FGyJ2fCw8mpbx6YAYcG8z%2Fuploads%2F3yEKUXof6yb40GocvQ87%2Ffig-20-release-v2.svg?alt=media)

Only **20%** of the fees a round collects lands in that round's own pool. The next 20% goes to the round after it, and so on across **5 rounds**.

| Share of the take | Lands in           |
| :---------------: | ------------------ |
|        20%        | its own round      |
|        20%        | the next round     |
|        20%        | two rounds later   |
|        20%        | three rounds later |
|        20%        | four rounds later  |

## What that does to a pool

Because every take is spread this way, **every pool is fed by 5 rounds at once**. The loud early rounds keep paying long after they are over, and the curve arrives as a plateau instead of a cliff.

{% hint style="success" %}
This is what makes a quiet week survivable. Any round is still drawing on the four before it, so a slow round is cushioned by the busy ones around it rather than collapsing on its own.
{% endhint %}

{% hint style="info" %}
Nothing is withheld and nothing is lost. A take that has not been paid out yet is owed to rounds that have not happened yet.
{% endhint %}


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