Three questions, then one transaction. Your token opens for trading against the quote token right away.
This sets the first price. All the tokens sit in the pool at that price, and it moves as people buy and sell.
A fee on each buy and each sell, taken in quote. 30% goes to the platform operator; the rest goes to your wallet, unless you burn part of it in Advanced settings. Every trade also pays a 1% pool fee.
The hook fee stops at 4% on each side: with the 1% pool fee, that is the 5% maximum the Guardrail allows. It can never go below 0%.
The launch liquidity is controlled by the platform operator, who can remove it at any time. What that means
Your token exists, its pool is open, and it is listed in the registry.