> For the complete documentation index, see [llms.txt](https://docs.catapult.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.catapult.trade/mechanics-turbo/tokens.md).

# Tokens

Catapult categorizes tokens based on their visibility and the resulting fee-sharing logic.

### Public vs. Private Tokens

**Public Tokens** are indexed within the discovery feed and on the main page. These sessions generate a 0.5% fee on all trade volume, which is paid directly to the creator. To maintain volume density and prevent market fragmentation, the protocol enforces a global cap on the number of concurrent public sessions. Trader mindshare remains concentrated on a manageable number of active charts.

**Private Tokens** are intended for personal use and do not appear in public feeds. These sessions are exempt from creator fees and function as an isolated environment for users to trade against the price engine or test strategies without external visibility.

### Volatility and Lifetime

The engine's speed and intensity are defined by the speed\_multiplier and daily\_sigma assigned to each tier. Every configuration utilizes a daily drift of **0** to ensure a mathematically neutral starting point.

| Type   | Speed Multiplier | Lifetime   | Daily Sigma |
| ------ | ---------------: | ---------- | ----------: |
| Slow   |               6x | 4 hours    |         0.5 |
| Fast   |              24x | 1 hour     |        0.75 |
| Flash  |              96x | 15 minutes |           1 |
| Crack  |             480x | 3 minutes  |        1.25 |
| Mayhem |            1440x | 1 minute   |        0.75 |

### Path Generation and Commitment

The lifecycle of a Turbo chart is deterministic, but the path remains secret until the session expires. When a creator clicks "Create," the protocol triggers a sequence to secure the chart's integrity.

First, the engine generates a random seed and uses it to pre-calculate the entire price series for the session's duration. A secret salt is created alongside the tick speed parameter. Before the first trade is accepted, these elements are hashed together and the resulting commitment is published immediately—serving as an immutable anchor for the session.

As trading progresses, ticks are streamed to the UI in sequence. The seed, salt, and underlying price array remain hidden, but because the hash is already public, any attempt to alter future ticks would cause verification to fail. The outcome is unpredictable for all participants, including the development team.

Upon expiration, the engine reveals the salt and provides the full price string. Anyone can independently verify by recalculating the hash and comparing it to the published commitment. A match confirms the chart wasn't tampered with.