Understanding Multi-Strategy Vault Fees

Belt.fi v2's Multi-strategy system does not charge fees on its own but has fees based on the strategy protocols used by the vaults. Any unused fees will be capital to pool.

Entrance Fees

Fundamentally, Belt.fi BeltMultiVaults do not take any entrance fees to our own contract. Any entrance fees arising are those of the strategy protocol at time of deposit.

Deposits in our vaults happen through one of two processses:

• deposit2 (directDeposit)

  • This is an immediate, direct deposit to a strategy protocol's vault/pool. Belt Finance itself does not charge any fee and any fee that does arise is the entrance fee for that particular protocol.

• deposit1 (delayDeposit)

  • This is a delayed deposit to a strategy protocol/pool to save on gas fees by spreading it out over multiple deposits. In this case, a conservative estimate of the entrance fee to the protocol is calculated and is initially charged.

Currently**,** the entrance fee ranges from 0% to 0.11%, depending on the strategy used at the time of deposit.

Any unused entrance fees will be capital to pool.

Withdrawal Fees

Fundamentally, Belt.fi BeltMultiVaults do not take any withdrawal fees to our own contract.

If a strategy protocol used at time of a withdrawal does charge an exit fee, there will be a withdrawal fee as per that strategy protocol's rules. Withdrawal fees are variable depending on the status of the multi-vault pools to keep the ratio of the pool stable.

If there is the possiblity of an extra fees arising of a strategy protocol's withdrawal, the Belt Strategy contract will reserve a small a withdrawal fee to hedge against it. Any unused withdrawal fees will be capital to pool.

Currently**,** the withdrawal fee ranges from 0% to 0.06%, depending on the strategy used at the time of withdrawal.

Details about the fees of each strategy

BSC Vault

1. Venus

• APY:

  • Source: Supply Interest - Borrow Interest + XVS distribution

  • BASE_APY: (supplyValue * supplyAPY - borrowValue* borrowAPY + Expected_XVS_APY * 0.88) / (supplyValue - borrowValue)

[Note] This base APY calculation method is the same as the existing venus pool. However, we are showing a more precise method through multiplying Expected_XVS_APY by 0.88

• Fees

  • entranceFee : 0.05% (originationFee 0.1% hedging)

  • controllerFee : 12% of XVS distribution rewards

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withrdrawalFee : 0.05% (originationFee 0.1% hedging)

2. Fortube

• Daily Distribution: 100,000 $FOR (~$12,400)

• APY

  • Source: Supply Interest - Borrow Interest + FOR distribution

  • BASE_APY: (supplyValue * supplyAPY - borrowValue * borrowAPY + Expected_FOR_APY * 0.88) / (supplyValue - borrowValue)

• Fees:

  • entranceFee: 0.05% (currently no originationFee)

  • controllerFee: 12% of FOR distribution rewards

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withdrawalFee: 0.05% (currently no originationFee)

3. Alpaca

• APY

  • Source: Lending interest + Deposit interest

  • BASE_APY : Lending interest * 0.88 + Staking interest * 0.88

• Fees

  • entranceFee: 0%

  • controllerFee: 12% of Lending interest, 8% of Staking interest

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withdrawalFee: 0%

4. Alpha Homora

• APY

  • Source: Lending interest

  • BASE_APY: Lending interest * 0.88

• Fees

  • entranceFee: 0%

  • controllerFee : 12% of Lending interest

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withdrawalFee: 0%

5. Ellipsis

• APY

  • Source: 3pool base APY + Rewards APY

  • `BASE_APY` : 3pool base APY + Rewards APY * 0.5 * 0.88

• Fees

  • entranceFee: 0%

  • controllerFee: 12% of claimable of EPS distribution (Ellipsis charges a 50% penalty when rewards are claimed immediately and not vested)

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withdrawalFee: 0.01% + Ellipsis's penalty

    • (depending of the status of the 3pool, it is possible to have a penalty when withdrawing. To hedge against this, we reserve a 0.01% fee. Whatever is not used is capital to pool.)

HECO Vault

1. Channels

• APY

  • Source: Supply Interest - Borrow Interest + CAN distribution

  • BASE_APY ⇒ (supplyValue * supplyAPY - borrowValue * borrowAPY + Expected_CAN_APY * 0.88) / (supplyValue - borrowValue)

• Fees:

  • entranceFee: 0.000001%

  • controllerFee: 12% of CAN distribution rewards

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withdrawalFee: 0%

2. Filda

• APY

  • Source: Supply Interest - Borrow Interest + FILDA distribution

  • BASE_APY ⇒ (supplyValue * supplyAPY - borrowValue * borrowAPY + Expected_FILDA_APY * 0.88) / (supplyValue - borrowValue)

• Fees:

  • entranceFee: 0.000001%

  • controllerFee: 12% of FILDA distribution rewards

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withdrawalFee: 0%

3. LendHub

• APY

  • Source: Supply Interest - Borrow Interest + LHB distribution

  • BASE_APY ⇒ (supplyValue * supplyAPY - borrowValue * borrowAPY + Expected_LHB_APY * 0.88) / (supplyValue - borrowValue)

• Fees:

  • entranceFee: 0.000001%

  • controllerFee: 12% of LHB distribution rewards

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withdrawalFee: 0%

KLAYTN Vault

1. Donkey

• APY

  • Source: Supply Interest - Borrow Interest + kDON distribution

  • BASE_APY ⇒ (supplyValue * supplyAPY - borrowValue * borrowAPY + Expected_kDON_APY * 0.88) / (supplyValue - borrowValue)

• Fees:

  • entranceFee: 0.001%

  • controllerFee: 12% of kDON distribution rewards

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withdrawalFee: 0%

2. Qubit

• APY

  • Source: Supply Interest - Borrow Interest + KQBT distribution

  • BASE_APY ⇒ (supplyValue * supplyAPY - borrowValue * borrowAPY + Expected_KQBT_APY * 0.88) / (supplyValue - borrowValue)

• Fees:

  • entranceFee: 0.001%

  • controllerFee: 12% of KQBT distribution rewards

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withdrawalFee: 0%

3. KLAYswap

• APY

  • Source: Lending interest + Deposit interest

  • BASE_APY : Lending interest * 0.88 + Staking interest * 0.88

• Fees

  • entranceFee: 0%

  • controllerFee: 12% of Lending interest, 12% of Staking interest

    • This is used solely for buyback + burn of $BELT (8%) + BELT staking rewards (4%)

  • withdrawalFee: 0%

Swap Fee

For stablecoin swaps through Belt Finance, there is a 0.1% Swap Transaction Fee.