Fees

The protocol can charge the following fees. Yield, earnings and APYs displayed on the front-end take into account activated fees.

Summary

Fee Type	Amount	Notes
Reserve factor for interest payments	15% *	Percentage of interests paid which goes towards the protocol
Liquidation Penalty	2.24%	On open debt of Accounts, according to:
* Liquidation Initiation	0.12%
* Liquidation Termination	0.12%
* Liquidation Penalty	2%	Equaly split between the protocol and liquidity providers
Origination Fee	0%	Fee on new debt taken
Front-end Swap Fee	0%	Fee on swaps executed through the front-end
Front-end Position Fee	0%	Success fee on positions created and burned through the front-end
Yield Success Fee (for (st)AAA holders)	as low as 2.5%	Fee on yield generated through the protocol
Yield Success Fee (for others)	5%	Fee on yield generated through the protocol
Auto-Compounding	<1%	On compounded yield (not principal)
Rebalancer (for (st)AAA holders)	<0.025% **	On amount swapped
Rebalancer (for others)	<0.05% **	On amount swapped

* This is not the interest rate itself, but the cut on interest payments. * * Rebalancing may incur other costs such as DEX swap fees and IL.

Lending

• A fee on interest payments, currently set to 15%.

• A share of the liquidation penalty, currently evenly split between the protocol treasury and the liquidity providers.

Front-end

• A fee on swaps through the front end, currently set to 0%.

• A success fee on positions created and burned through the front end, currently set to 0%.

• A success fee on yield generated through the protocol. This fee is set to 5% and decreases according to the ratio of the position size and the (st)AAA holdings of the owner down to 2.5%.

Asset Managers

Depending on the asset manager, the fees can vary. For more information, see Asset Managers.