Platform fee

1% per year of vault NAV. Accrued daily.

What it covers:

The platform fee covers institutional custody at Ceffu and the MakeBanc infrastructure: the vaults, the NAV oracle, settlement, reporting, and the rest of the technology you connect to. It is the recurring cost of running the platform.

It is not split with anyone. The entire 1% platform fee goes to MakeBanc.

How accrual works:

Each day, the vault accrues 1/365th of 1% (~0.00274%) of NAV. Recorded in the vault contract, reflected in the share-to-asset ratio. It comes out of NAV continuously, so your dashboard always shows net-of-fee value.

When the fee is realized:

Transferred from the vault to MakeBanc on a regular cadence. From your perspective, it is already deducted from NAV.

The separate insurance fee:

Alongside the platform fee, you also pay a 1% insurance fee. It is a complete pass-through of the cost of insuring MakeBanc's technology-risk exposure (coverage from Breach, currently in progress), and MakeBanc keeps none of it. See Security and risk.

For allocators:

You pay 1% for the platform fee and 1% for the insurance fee, both accrued daily into NAV. The asset manager's tier does not change what you pay.

Why daily accrual:

Fairness. If the fee were charged quarterly, someone who entered the day before the charge would pay a full quarter on capital deployed for one day. Daily accrual means you only pay for the days your capital was in the vault.

Transparency. The NAV on your dashboard already reflects the fee. No separate calculation needed.

What this is not:

Not a deposit fee. Not an exit fee. It is the operating fee for institutional custody and the infrastructure running the vault, NAV reporting, settlement coordination, and redemption queues.

If you redeem at any point, you've paid for exactly the days you were in. Nothing more.