Fee

When the portfolio shares are minted, the manager can set up the fees. All the fees will be automatically calculated and collected by the smart contract. Once set, it cannot be changed during the duration of the portfolio product. The fee type and calculation method are as follows.

1.4.1 Issuance fee

➢ The fee charged when minting shares.

➢ The protocol will charge the fee according to the size of minted shares and the fee rate set by the portfolio manager (0≤fee rate≤10%).

➢ Issuance fee=Issuance fee rate*Size of issuing shares

1.4.2 Redemption Fee

➢ Redemption fee is charged at the time of redemption (open-end) or liquidation of the fund (close-end).

➢ The protocol will charge the fee according to the fee rate set by the portfolio manager (0≤fee rate≤10%) and then according to the size of shares at the time of redemption or liquidation.

➢ Redemption fee = redemption rate * redemption/liquidation of size of shares

1.4.3 Management Fee

➢ The management fee is charged daily according to the size of assets, and the portfolio manager withdraws it into his wallet according to his own needs.

➢The protocol charges it at a fee rate set by the portfolio manager (0≤ rate ≤10%) and calculated based on the size of the asset of the snapshot of the day when the portfolio withdraws the fees, averaged to the daily.

➢ Management fee (day)=management fee rate* size of asset at the end of the day*/365 ( the day: when the portfolio withdraws the fees)

1.4.4 Performance fee

➢ Performance fees are generally found in closed-end products, set up to motivate portfolio managers, and are generally collected at liquidation.

➢ Performance fee is to distribute the profits of portfolio management. The portfolio manager can agree with investors through a protocol on the performance fee rate, which will be charged according to the profits at the time of liquidation.

➢Performance fee = profit of asset management products * performance fee rate