Stage	Layer	Monetization	Core KPI	Target Range
🎯 Acquisition	Community	—	CPC	$0.8–1.2
⚡ Activation	Perp Engine	Trading Fee	CPA	$35–45
📈 Engagement	Perp Engine	Trading Fee	Monthly Volume per Retail Trader	$20K–35K $5+ml/pro scalper
🔁 Retention	Competition Layer	Trading Fee	30D Retention	60–70%
⭐ Loyalty	Referral	Fee Share	K-Factor	0.25-0.45