Creator fees

The current vault contracts implement one fee: an optional 0–1% issuance fee, chosen at creation and paid in newly issued basket shares. It applies to both the initial funding and later mints.

How the issuance fee works

The rate can be 0–100 basis points, where 100 basis points is 1%. Both the rate and the nonzero fee-recipient address are fixed for the lifetime of the vault.

Fee shares = ceil(gross shares × fee basis points / 10,000)
Net shares = gross shares − fee shares

Fee shares round up to the smallest share unit. The deposit funds the full gross issuance. Net and fee shares therefore add up to exactly the funded increase in supply.

For example, a 1% fee on a 2-share gross mint sends 1.98 shares to the receiver and 0.02 shares to the fee recipient. The payer supplies the underlying quantities required for all 2 shares. If the receiver and fee recipient are the same wallet, that wallet receives both portions.

There is no separate fee-withdrawal step: the recipient receives transferable shares when issuance happens. Holding those shares carries the same underlying exposure and redemption mechanics as holding other basket shares.

Charges by action

Action	Current vault fee
Create and seed a basket	Configured issuance fee on the initial gross share
Direct mint or ETH buy through minting	Configured issuance fee on gross shares
Request redemption or claim tokens	No vault redemption or claim fee
Hold shares over time	No annual or recurring management fee
Transfer shares or swap existing shares in a pool	No vault transfer tax or issuance fee

Pool swaps have venue trading fees. Native mint/redeem routes can also incur constituent swap fees. Network gas is separate from all of these charges.

Planned economics are separate

The product’s proposed revenue model describes additional fees whose collection is not implemented by these vaults and factories:

Planned fee	Product terms	Implementation status
Basket launch fee	Fixed 0.0005 ETH, paid to the protocol	Not collected by the current factories
Optional redemption fee	0–10%; collected fee split equally between creator and protocol	Not implemented
Optional annual fee	0–3%; collected fee split equally between creator and protocol	Not implemented

Under that planned model, the protocol’s half comes out of the collected creator fee; it is not added on top. Redemption and annual rates apply to different fee bases and should not be added into one percentage.

Collection assets, annual valuation and accrual, exact rounding, recipients, and fee-change controls still require an implementation specification. The planned terms do not change an existing vault’s immutable issuance fee or add new charges to it.

When reviewing a transaction, use the basket’s actual fee configuration and preview. A product explanation or revenue simulation does not establish that additional fees are being collected on-chain.