
Pool fee APRis what this pool earned on its liquidity over the last 24 hours, annualised. A vault's share of fees scales with its share of liquidity, so that rate is what a position here would earn — it's the number the variable side is betting on. The fixed side is paid lessthan it, because they're taking certainty instead.
The premium is above what this pool earned over the same period on current volume. Someone has to take the other side — at this rate they'd be betting volume rises sharply. Lower the APR if nobody fills it.
Opens Saffron with the pool, price range, capacity and APR already filled in — you pick the term and sign there. Saffron creates the vault, not lunch: vault creation on this chain is restricted to them, so the last step has to happen on their side, and the request is signed by your wallet. lunch holds no funds and takes no fee.