Fees
Please note all actions on the blockchain require gas for the transaction. This includes approving tokens, creating contracts, approving transactions and more. These are standard costs paid for in the chain's native token (BSC uses BNB, Fantom uses FTM) and the gas costs depend on traffic on the network.
Performance Fee: 4.25%* (varies per vault)
Withdrawal Fee: 0.10%
Deposit Fee: 0.00%
Performance Fees vary per vault or Bank. Fees are determined based on the relationship between TVL and APY and are listed on every vault. Performance Fees buyback the $Static token and distribute $Static to the allocations listed. Head here for more on tokenomics.
Most performance fees are structured as below:
Fee Allocated To | Percentage |
|---|---|
4% | $Charge + $Pulse Stakers |
15% | $Pulse Stakers (until payback is complete) |
85% | $Charge Stakers |
0.25% | Harvest Fee |
4.25% | Total Performance Fee |
The performance fee on the vault profits is largely distributed back to $Charge stakers as an incentive to buy, hold and stake the main utility token of Bloomify. The portion allocated to Bloomify is our main source of platform revenue. That revenue is used to further fund development, pay for security features and audits and fund management and marketing costs.
Please see each vault for the specific performance fees associated with it
The Performance Fees are currently being collected every 24 hours
Some vaults have a withdrawal fee - this is not considered a real source of revenue - it's main goal is to prevent front running and sandwich attacks. The withdrawal fee is to ensure legitimate stakers are getting the rewards as opposed to someone who stakes right before compounding. Withdrawal fees stay in the vault and are shared amongst vault funds.
Performance Fee: 0.00%
Withdrawal Fee: 0.00%
Deposit Fee: 0.00%
Run Strategy Fee: Pay in $BNB or 10% discount for using $Static (value is 1 Static)
Every time you run the strategy, you will pay the 1 $Static Run Strategy fee. You can pay in $BNB or pay in Bloomify's native $Static token for a 10% discount.
How is The Fee Used?
The $Static and $BNB earned by the strategy fee is held in a contract by the Bloomify Team and will be used for upcoming projects, ongoing development and plans that benefit the community and the ecosystem as a whole.
Last modified 7mo ago