Fees & User Types
1 Nov 2023: Note that Fees & User Types are still undergoing testing and have not yet been deployed. In the meantime, fees are set to zero (0).
Users are classified into two types of users for the purposes of Fees: Regular Users, and Whales. There are three types of fees: Transaction Fees, Carry Fees, and Collateral Risk Fees. Transaction Fees are paid upon executing a trade with Carry and Collateral Risk Fees paid on a daily basis at approximately 2pm UTC.
Transaction Fees
The following Maker and Taker Transaction Fees, or Base Fees, are for a 1yr fixed rate position.
Regular Users
| Level | # Tokens | Assets (USD) | 30-day Volume (USD) | Maker Fee | Taker Fee |
|---|---|---|---|---|---|
Level 1 | 200,000 | 100,000 | 5,000,000 | 0.080% | 0.100% |
Level 2 | 2,000,000 | 100,000 | 5,000,000 | 0.070% | 0.090% |
Level 3 | 5,000,000 | 100,000 | 5,000,000 | 0.060% | 0.080% |
Level 4 | 20,000,000 | 100,000 | 5,000,000 | 0.050% | 0.070% |
Level 5 | 200,000,000 | 100,000 | 5,000,000 | 0.040% | 0.060% |
Whales
| Level | # Tokens | Assets (USD) | 30-day Volume (USD) | Maker Fee | Taker Fee |
|---|---|---|---|---|---|
VIP 1 | - | 100,000 | 10,000,000 | 0.020% | 0.050% |
VIP 2 | - | 500,000 | 20,000,000 | 0.015% | 0.050% |
VIP 3 | - | 2,000,000 | 50,000,000 | 0.010% | 0.050% |
VIP 4 | - | 5,000,000 | 100,000,000 | 0.005% | 0.050% |
VIP 5 | - | 10,000,000 | 200,000,000 | 0.000% | 0.050% |
VIP 6 | - | 20,000,000 | 500,000,000 | - 0.010% | 0.050% |
VIP 7 | - | 50,000,000 | 1,000,000,000 | - 0.015% | 0.050% |
VIP 8 | - | 100,000,000 | 10,000,000,000 | - 0.020% | 0.050% |
The above fees are then multiplied accordingly via a scalar below (based on the maturity of the underlying trades) to compute the actual transaction fee for a given market.
| Market | Scalar |
|---|---|
Floating Rate Market | 0% - Temporary |
1D | 0% - Temporary |
2D | 0% - Temporary |
1W | 0% - Temporary |
2W | 4% |
3W | 6% |
1M | 10% |
2M | 16% |
1Q | 25% |
2Q | 50% |
3Q | 75% |
1Y | 100% |
2Y | 100% |
3Y | 100% |
Carry Fees
Carry Fees are 0.20% annualized and are charged based on the net outstanding principal in USD-equivalent terms. For example, if a user has only one lending position, they will pay the upfront Transaction Fee with the Carry Fee paid daily (in proportion to the annualized value).
Collateral Risk Fees
To isolate and protect Infinity from collateral credit risks, Infinity will charge a collateral credit risk fee commensurate with prevailing near-term credit spreads or insurance premiums, where available. Where possible, Infinity may then programmatically buy insurance or protection against such assets defaulting where such purchases will initially be fully hedged and not hedged on a portfolio / CVA basis.
Refer to the list of Eligible Collateral for more details.
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