# Fees

* **Performance fee:** 10% of all yield 
* **Management fee:** 0%
* **Deposit fee:** 0%
* **Withdraw fee**
  * **Standard:** 0%
  * **Express:** 0.5%

{% hint style="info" %}
Any fee changes are **announced in advance** and only take effect after the governance **timelock** has elapsed.
{% endhint %}