Vault fees

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

The schedule

• Creation fee — 100 USDG (default, configurable). Paid once by the creator to the HISS protocol treasury when a public vault is created.
• Creator performance fee — 10% default, 0–20% cap. Charged only on profits above the vault's persisted high-water mark. Never on losses, and never until previous losses are fully recovered. Crystallized as share dilution, so depositor principal is untouched.
• HISS protocol share — 20% of the creator performance fee. Carved from the creator's fee, not charged separately to depositors.
• Rebalance routing fee — 2 bps default, 0.5–5 bps bounds. On rebalance notional, only when HISS routing/execution infrastructure is used.
• Referral share — optional. Paid only out of the creator/protocol configured shares, never hidden, always emitted in fee events.

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.