Know what each fee pays for.
Vault charges, trading fees and creator entitlements are separate mechanisms. They apply to different actions and calculation bases.
Design documentation · On-chain functions are not liveProposed trading-pool and hook fees.
| Market | Pool fee | Hook fee |
|---|---|---|
| SECTOR100 | 1% | None |
| SEC | 1% | 2.5% |
| Launchpad tokens | 1% to 5%; chosen by the creator at launch | None |
For launchpad tokens, the creator selects the pool rate once at launch. It is permanently fixed for that launched pool, with no later change by the creator or an admin. There is no launchpad hook.
A pool fee applies to a swap in the relevant market. A hook is additional contract logic associated with a market; the proposed SEC hook has its own 2.5% fee policy.
These are proposed rates for the new markets, not deployed fee enforcement. Existing constituent V3 pools use their own actual rates shown in the terminal. A custom SEC hook and launchpad rates up to 5% require a separate compatible market implementation; the current V3 vault router does not supply those features.
The four vault charges.
| Charge | Rate | When and how |
|---|---|---|
| Creation | 0.25% | Allocated in shares when new investor shares are created |
| Redemption | 0.25% | Transferred in shares before the remaining shares are burned |
| Management | 0.25% per year | Accrued over elapsed time by minting treasury shares |
| Performance | 0.25% of qualifying gains | Charged above the NAV-per-share high-water mark by minting treasury shares |
The four numbers are not one flat 1% fee on every action. Entry and exit are separate events, management depends on time, and performance depends on qualifying gains. Management and performance charges dilute existing holders.
The rates are constants in the current vault code and the fee recipient is fixed at deployment. The proposed recipient is the timelock treasury. A governance vote cannot change these vault rates or redirect the recipient.
The performance high-water mark.
The performance calculation compares the current net asset value per share with the stored high-water mark. Only gains above that mark qualify. If the price feed is unhealthy, performance-fee accrual cannot proceed; it is deliberately separate from normal creation and redemption.
One accrual can mint at most 1% of the existing share supply as a backstop. That cap is not the performance fee rate, which remains 0.25% of the qualifying gain.
Proposed SEC staking discounts.
| Active stake | Configured discount | Entry/exit rate in current code |
|---|---|---|
| 10,000 SEC | 10% | 0.23% |
| 100,000 SEC | 25% | 0.19% |
| 1,000,000 SEC | 50% | 0.13% |
The configured discount is capped at 50%. The current vault computes the fee reduction in whole basis points, rounding it down; the resulting rates above reflect that rounding. The proposed unstaking wait is seven days. Management and performance fees remain unchanged, and these discounts do not alter pool or hook charges. Staking is not live.
Treasury fees and creator fees.
Vault fees are assigned to the fixed treasury recipient. Fees collected from a protocol-owned locked LP position also follow that position's fixed recipient. The planned creator dashboard instead concerns a creator's allocated fees from that creator's token pools.
The existing treasury liquidity-lock collector cannot be used as proof that creator claims exist. The creator allocation and claim contracts remain to be implemented.
Other costs to consider.
A swap can also incur gas, price impact and fees from additional pools along its route. Slippage tolerance limits acceptable execution; it is not a guaranteed extra fee. The amount to review is the actual route quote and minimum received, not just one advertised pool percentage.