> ## Documentation Index
> Fetch the complete documentation index at: https://docs.gomaestro.org/llms.txt
> Use this file to discover all available pages before exploring further.

# Fees & economics

> Fee types across vaults — set per vault by the curator, deducted in BTC.

Fees are set at the vault level by each vault's curator. They are **deducted in BTC** and settled monthly or upon withdrawal.

## Fee types

Three fee types appear across vaults:

| Fee                | Basis                                                       |
| ------------------ | ----------------------------------------------------------- |
| Management fee     | Assessed on assets under management                         |
| Performance fee    | A share of realized BTC yield — never assessed on principal |
| Administration fee | Applies to certain lending vaults                           |

Which of these apply — and at what rate — is set by the vault curator; current fee schedules are published per vault in the [Treasury app](https://treasury.gomaestro.org). Review the [risk disclosures](/trust-operations/risk-disclosures) alongside fee terms before allocating.

<Note>
  All yield figures are **indicative BTC APY ranges**, not guarantees. Actual returns vary by
  program, market conditions, and counterparty. Figures are net of fees and
  BTC-denominated. Past performance is not indicative of future results.
</Note>