# Fungible Strategies

Fungible Strategies are based around an underlying fungible asset (i.e., ERC-20 tokens); there can only be one Strategy per fungible token. Only the token owner can launch a Strategy for their fungible token, or otherwise launched by the TokenWorks team.

Each token has a 1e deploy fee, with 0.8e buying and burning $PNKSTR and 0.2e to TokenWorks. There is a 10% fee on buys/sells of the token.

Of the 10% trading fee:

* 8% goes to the token contract to buy the underlying fungible token
* 1% for buying and burning $PNKSTR, the ecosystem token
* 1% as royalties to the underlying fungible token owner

Trading fees pool up to act as the floor bid for a set amount of tokens. When the pool gets higher than the price of the asset, a bot executes the purchase. The Strategy then lists the tokens for 20% higher (but this rate can be updated for each Strategy).

When someone buys the tokens from the protocol, ALL of the funds are used to buy and burn the STR token. This cycle continues, forever.


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