Merge pull request 'docs: clarify fees go to protocol treasury, not holders' (#453) from docs/fee-destination-clarity into master

Reviewed-on: https://codeberg.org/johba/harb/pulls/453

docs/ARCHITECTURE.md

@@ -17,7 +17,7 @@ Kraiken.sol (ERC-20 token)
 │       ├── Staking positions with tax rates
 │       ├── Snatch mechanics (competitive staking)
 │       └── getPercentageStaked(), getAverageTaxRate()
-└── feeDestination: address (protocol revenue)
+└── feeDestination: address (protocol revenue — fees go HERE, not back to holders)
 
 Optimizer.sol (UUPS Upgradeable Proxy)
 ├── Reads: stake.getPercentageStaked(), stake.getAverageTaxRate()
@@ -55,7 +55,8 @@ All managed by LiquidityManager via ThreePositionStrategy abstract:
 4. `discoveryDepth` (0 to 1e18) — depth of discovery position
 
 Sentiment calculation: `sentiment = f(averageTaxRate, percentageStaked)`
-- High sentiment (bull) → wider discovery, aggressive fees
+- High sentiment (bull) → wider discovery, more fee revenue for protocol treasury
+- Holder value comes from asymmetric slippage (structural ETH accumulation), NOT from fee reinvestment
 - Low sentiment (bear) → tight around floor, maximum protection
 
 ## Stack

docs/PRODUCT-TRUTH.md

@@ -27,7 +27,7 @@ when the protocol changes — not the marketing copy.
 ❌ **Cannot say:**
 - "The floor can never decrease" — **FALSE.** Selling withdraws ETH from reserves. The floor CAN decrease.
 - "Guaranteed profit" or "risk-free" — staking is leveraged exposure, it has real downside
-- "Floor always goes up" — only true if fee income exceeds sell pressure, which isn't guaranteed
+- "Floor always goes up" — **FALSE.** The floor rises from asymmetric slippage during balanced trading, but heavy sell pressure CAN push it down. Fees do NOT feed back to the floor (they go to protocol treasury).
 
 ## The Optimizer
 
@@ -53,21 +53,38 @@ when the protocol changes — not the marketing copy.
 - On-chain training data → new optimizer contracts via Push3 transpiler
 - Remove admin key in favor of staker voting
 
+## Fee Destination
+
+✅ **Can say:**
+- Trading fees are collected by the LiquidityManager during recenters
+- Fees are sent to `feeDestination` (protocol treasury / founders)
+- Fee revenue is the protocol's business model
+
+❌ **Cannot say:**
+- "Fees grow your KRK value" — **FALSE.** Fees go to treasury, not back to holders.
+- "Auto-compounding" — **FALSE.** Nothing is reinvested for holders.
+- "Fee accumulation benefits holders" — **FALSE.** Holders benefit from asymmetric slippage, not fees.
+
+⚠️ **What actually grows holder value:**
+The three-position structure creates **asymmetric slippage** — buys push the price up more than sells push it down. With balanced trading activity, ETH accumulates in the system structurally, raising the effective price of KRK over time. This is a property of the liquidity layout, not fee reinvestment.
+
 ## Liquidity Positions
 
 ✅ **Can say:**
 - Three positions: Floor, Anchor, Discovery
 - Floor: deep liquidity at VWAP-adjusted prices (safety net)
 - Anchor: near current price, fast price discovery (1-100% width)
-- Discovery: borders anchor, captures fees (wide range, ~3x current price)
+- Discovery: borders anchor, wide range (~3x current price)
 - The optimizer adjusts position parameters based on sentiment
 - "Recenter" = atomic repositioning of all liquidity in one transaction
 - Anyone can trigger a recenter; the protocol bot does it automatically
-- Bull mode: wider discovery, aggressive fee capture. Bear mode: tight around floor.
+- The three positions together create asymmetric slippage — buys have more price impact upward than sells have downward
+- With normal trading activity, this structural asymmetry accumulates ETH, raising the floor over time
 
 ❌ **Cannot say:**
 - "Three trading strategies" — it's three positions in ONE strategy
 - "Token-owned liquidity" — ⚠️ USE CAREFULLY. KRK doesn't "own" anything in the legal/contract sense. The LiquidityManager manages positions. Acceptable as metaphor in marketing, not in technical docs.
+- "Captures fees for holders" — fees go to feeDestination, not holders. The positions capture fees for the PROTOCOL.
 
 ## Staking