How fees work

One recurring fee, plus the asset manager's performance fee. All visible, all applied at the vault level.

The fees:

Platform fee, 1% per year. Accrued daily. Covers institutional custody at Ceffu and the MakeBanc infrastructure: the vaults, the NAV oracle, settlement, and reporting. It is not split with anyone; the entire 1% goes to MakeBanc.

Performance fee, set by the asset manager (hypothetically 20% to 30%), on returns above the high water mark. Only charged when the strategy makes you money beyond its previous peak. This is the asset manager's fee.

No entry fees, no exit fees, no spread markups, no idle balance penalties.

Who gets what:

The 1% platform fee goes entirely to MakeBanc. It is not split with the asset manager.

The performance fee is the asset manager's revenue. MakeBanc charges a payment processing fee on the performance fees an asset manager earns, set by their tier. That payment processing fee is taken from the asset manager's fee, never from yours. See The Tier Program.

You pay the same regardless of the manager's tier: 1% platform, plus the manager's performance fee on returns above the high water mark.

Why this structure:

High water mark: the asset manager doesn't get paid twice for the same gain. If the vault drops and recovers, the performance fee only kicks in past the previous peak.

The 1% platform fee covers custody and infrastructure. It accrues daily, so there's no month-end surprise.

What MakeBanc does not earn from:

No spread markups. No lending your deposits. No payment for order flow. No hidden tiers. MakeBanc earns from the 1% platform fee and from its payment processing fee on performance fees. You may also incur network gas fees (typically minimal on Base) and any costs inherent to the strategy's trading activity.

Worked example:

For a full numeric walkthrough, see the worked example. For detailed performance fee mechanics, see performance fee.

Gas fees:

Gas on Base is typically a few cents per transaction. You pay it when you sign. It's a Base network fee, not a MakeBanc fee. The network is cheap enough that gas is generally not a meaningful factor.