Fee Structure

Mint & Redeem fees

Minting, redeeming and cancelling vesting do not incur any platform fees. The only fees you will be charged during these operations are network transaction fees.

The mint and redeem rates will be at the dVOI/VOI rate at the time of transaction - see the Rate section for an explanation.

Cancelling will refund the exact amount of VOI deposited to mint dVOI (regardless of the current dVOI:VOI exchange rate.)

Reward fees

The platform takes fees on each rewards distribution. The percentage is configurable throughout the lifetime of the contract, and can be seen under the global storage key fee_rate. This value is per-mille (%%) so you can divide by 10 to get the percent fee. The initial value 130 corresponds to 13.0%.

There are mechanisms in place to protects dVOI users from the operator changing fees abruptly, see Immutability - Fee Rate.

As an example of the allocation of a rewards payment:

  • Rewards deposited: 1,000 VOI
  • Fee Rate: 13.0%
  • Fee purse increase: 130 VOI
  • Withdrawable balance increase: 870 VOI
    • This balance is the denominator in the dOVI/VOI exchange rate.

The rate change from these parameters:

  • Circulating dVOI: 20,000 dVOI
  • Withdrawable Balance: 20,000 VOI
  • Rate: 1.0

Would result in:

  • Circulating dVOI: 20,000 dVOI
  • Withdrawable Balance: 20,870 VOI
  • Rate: 1.0435
    • withdrawable / circulating = 20870 / 20000

Execution of rewards distribution & rate calculation

The contract keeps track of the last known balance of its escrow address. It will update the withdrawable and fee balances when it is called to mint, redeem or update_balances.

Minting immediately after a rewards distribution is supported. In case the contract hasn't updated the tracked balances yet, it will do so automatically before the mint/redeem operation.