> 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-vault.md).

# The Vault

The only discretionary money in the system, and the two things it can do.

The half of the trading fees that does not go straight to a pool is held rather than paid out. It is the only discretionary money in the whole system, it is held in **ETH**, and it has exactly two exits.

## Exit one — topping up a prize pool

Vault funds can be added to any round's pool by hand: to seed a launch weekend, to hold a floor under a quiet round, or to fund a one-off event.

## Exit two — buying $DEFUND back

Or the vault buys the token on the open market.

{% hint style="success" %}
Both exits point back at the same place. One returns the fees through the players, the other through the order book. There is no exit that ends anywhere else.
{% endhint %}

| The vault      | Detail                           |
| -------------- | -------------------------------- |
| Holds          | **50%** of $DEFUND trading fees  |
| Denominated in | ETH                              |
| Exits          | Top up a pool · buy $DEFUND back |


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