Fees

At launch, Lazy Vaults will charge an annualised Assets Under Management (AUM) fee of 1%. There will be no performance fees. The management fee rate can be adjusted by Governance at any time. This fee is a dilution based fee, where shares in Fleet Commanders are allocated to the TipJar contract on a continuous basis. The TipJar contract is controlled by Governance. Fees will accrue as shares until the TipJar is emptied, either by Governance or by an authorised Tip Stream address - at which point Fees are converted to underlying Fleet assets.