Builder codes

A builder code lets an app or interface built on Parchment charge a small fee on the winning trades it sends.

• The builder fee is an extra fee on top of Parchment's fees. It takes no part of the open, close or win fee, or of referral shares.
• It is charged only at a winning close, as a share of your profit: at most 1% (100 basis points). A loss pays no builder fee. Opening pays nothing.
• It comes out of your profit. The 90% you keep on a win (see Fees) is before this fee.
• You pay a code only after you approve it from your own wallet, up to a maximum you choose. A delegate cannot approve for you, and you can revoke an approval at any time. A code with a 0% fee needs no approval. Opening with a code that has a fee you have not approved is refused.
• If the code's fee was raised above your approval, your new positions store it at 0% until you approve the new fee.
• On a queued profit, the builder fee waits on the claim and is paid after your share.
• Parchment's admin creates and reserves codes. Self-serve creation opens later: then anyone can create a code of 3 to 32 bytes (lowercase letters, digits, _ or -) for a small price set by the admin ($1 by default), up to 3 per owner.
• Earnings go to the code's payout address's free balance (or wait until that address creates an account) and are withdrawn like any other balance.

Builder codes are on at launch. Parchment's admin can switch them off. While they are off, orders with a registered code still work (a code with a fee still needs your approval), but the new position stores no code and pays no builder fee.

To pass a code with an order, see the builderCode option in the TypeScript SDK.