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Fees

Management Fees

The Management Fee is charged by the Token Issuer and accrues daily on-chain for the management of the U.S. T-Bills portfolio.
Item
Description
Fee
Management Fee
Annual Management Fee Rate charged daily on the current TVL.
0.30% p.a.
The scope of portfolio management includes:
  • Maintaining the target utilisation rate and liquidity reserve ratio
  • Maintaining the target weighted-average maturity of the portfolio
  • Rolling over matured U.S. T-Bills into new securities and compounding earned returns
  • Complying with the regulatory requirements of management of Investors’ capital
  • Commissioning third-party audits and attestation reports of the on-chain and off-chain assets of the portfolio
  • Commissioning regular smart contract audits and security reviews of the TBILL Vault by third-party providers

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 OPL treasury address.
Item
Description
Fee
Transaction Fee Rate
Fee charged on transactions occurring on weekdays
5 bps
Weekend Fee Rate
Fee charged on transactions occurring on weekends
10 bps
Minimum Transaction Fee
A floor rate for transaction fee
25 USDC
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