Vault fees

Every fee a HISS vault can charge, in one place. There are no hidden fees: the schedule is on every vault page and in every receipt, and the deployed contracts carry the same parameters. All vault fees are denominated in USDG on Robinhood Chain.

Fee schedule — launch

• Vault candidate save — 0 USDG. Vault candidates are free to save. You can validate and save a candidate without the VaultFactory being deployed and without public deposits being enabled.
• Public vault creation — 50 USDG launch fee. A public vault creation fee applies only when the vault is published onchain. An early-creator promo of 25 USDG may apply to the first approved public vaults. A later standard fee of 100 USDG is configuration-gated and disclosed before it applies.
• Creator performance fee — 10% of new net profits above high-water mark. Never on losses, and never until previous losses are fully recovered. Launch cap is 10% for unverified creators; verified creators may configure up to 20%, and any non-10% fee is displayed prominently. Crystallized as share dilution, so depositor principal is untouched.
• HISS protocol share — 10% of the creator performance fee. Depositors pay no separate HISS performance fee. HISS protocol share comes from the creator fee, not depositor principal. The maximum is 20% of the creator fee, and only after an explicit protocol setting with UI disclosure.
• Routing fee — 0 bps until HISS live routing is enabled; later 0.5–1 bps standard. Routing fees are disabled until HISS routing infrastructure is live and used. Once live: 0.5 bps default, 1 bps recommended cap for standard vaults, 2 bps maximum only for advanced, explicitly HISS-routed strategies. Never charged on candidate saves, validation, receipt generation, blocked intents, or manual non-HISS-routed actions.
• Creator skin in game — 5% required before public deposits open. Not required to save a vault candidate. This mirrors vault-leader alignment models.
• Deposit fee — 0. HISS charges no deposit fee.
• Withdrawal fee — 0, excluding actual chain/liquidity costs where disclosed. Chain gas, liquidity unwind, slippage, and actual execution costs are disclosed separately. There is no spread taken by HISS.
• Referral share — optional. Paid only out of the creator/protocol configured shares, never hidden, always emitted in fee events.

Fee illustration

Static example — a fee illustration, not a performance claim. If a vault has 1,000.00 USDG of new net profit above its high-water mark with a 10% creator performance fee: depositors keep 900.00 USDG, the creator performance fee totals 100.00 USDG, the HISS protocol share of that creator fee is 10.00 USDG, and the creator receives 90.00 USDG. No performance fee is charged on losses, and none until the prior high-water mark is recovered.

Fee phases

Later fee values (100 USDG creation; a higher protocol share up to the 20% maximum) are configuration-gated: they take effect only through an explicit protocol setting and are always disclosed in the UI and the fee schedule endpoint before applying to any vault.

High-water mark, precisely

The high-water mark is per-share and persisted in contract state. If a share was worth 1.00 USDG at its peak and falls to 0.90, no performance fee accrues on the recovery from 0.90 back to 1.00 — fees resume only on gains above 1.00. Losses are never a fee event.

Lockups

A vault may disclose a withdrawal lockup at deposit time. Lockups are policy, not fees — they appear on the vault page and in the depositor acknowledgment before any deposit.