# Fee Split (Scaled by Tier)

Public Vault profits are subject to a **tiered total fee**. Manager share **increases with TVL + track record** (30-day rolling IRR, on-chain verifiable). Platform takes the remainder. Aligns incentives: elite performance → higher cut (up to 5%, hedge-fund grade).

| Tier   | TVL Milestone  | Track Record                      | Manager Fee | Platform Fee | Total Fee | Rationale        |
| ------ | -------------- | --------------------------------- | ----------- | ------------ | --------- | ---------------- |
| Tier 1 | Pass Challenge | Any                               | 0.5%        | 0.5%         | 1.0%      | Entry            |
| Tier 2 | $1M+ TVL       | <p></p><p>30% IRR</p>             | 1.0%        | 0.5%         | 1.5%      | Early scale      |
| Tier 3 | $10M+ TVL      | <p></p><p>50% IRR</p>             | 2.0%        | 0.8%         | 2.8%      | Pro league       |
| Tier 4 | $50M+ TVL      | <p></p><p>100% IRR + 6mo live</p> | 5.0%        | 1.0%         | 6.0%      | Hedge Fund Grade |

#### How It Works

* Fee calculated **per withdrawal** above HWM
* Accrues in real-time, deducted on withdraw()
* Paid in **USDC** (or ETH if vault is ETH-denominated)

**Example (Tier α)**:

* Vault grows from $50M → $55M (+10%)
* Profit = $5M
* Total Fee = $300K → **$250K to Manager**, **$50K to platform**
