Fees
Total Expense Ratio
The Total Expense Ratio is charged by the Investment Manager and accrues daily on-chain for the management of the US T-Bills portfolio.
Total Expense Ratio
Annual Expense Ratio charged daily on the current TVL.
0.35% p.a.
The scope of the Total Expense Ratio includes:
Maintaining the target weighted-average maturity of the portfolio
Rolling over matured US T-Bills into new securities and compounding earned returns
Complying with the regulatory requirements of the management of Investors’ capital
Commissioning third-party audits of portfolio assets
Commissioning regular smart contract audits and security reviews of the TBILL Vault by third-party providers
Custodian fees
Transaction Fees
The transaction fee will be imposed on a user during a subscription or redemption process (paid in USDC). This fee is computed on-chain and will be floated into the Investment Manager's treasury address.
Transaction Fee Rate
Fee charged on subscription and redemption transactions
5 bps
The Transaction Fee will mainly cover the operational costs of maintaining the Vault across on-chain and off-chain venues. Some of the costs to be incurred are:
Ethereum gas fees
Bank wire fees
Digital asset to fiat conversion fees
Last updated