Fee Structure

Management Fee

• 10% APR, accrued per block (~0.25 s on Base).

• Computed as totalAssets * ratePerBlock * blocksElapsed / 1e18.

• Collected by minting small amounts of vault shares to the treasury, preserving PPS neutrality.

Performance Fee

• 20% of realized profits.

• Uses per-share high-water mark (HWM) — fees only on actual gains, not deposits.

• Triggered automatically by epoch rollover or manual crystallization.

Withdrawal Fee

• 1% on all exits, both standard and priority.

• Paid from the underlying assets before distribution.

Instant Exit Penalty

• 25% of withdrawn value + 1% withdrawal fee.

• Applied instantly to disincentivize emergency exits and protect vault stability.