# Fee Structure NODO vaults use a transparent, performance-based fee model that aligns the interests of users, the protocol, and strategy providers. All fees are enforced on-chain and are clearly visible in the vault’s dashboard. ### Performance Fee * Rate: 5% of realized gains above the High Water Mark (HWM), set individually per vault. * Trigger: Automatically charged during scheduled rebalancing events (every 1–2 days). * High Water Mark Protection: * Prevents fees on unrealized or historical profits. * New deposits raise the baseline to ensure users only pay on actual performance above their entry value. * Destination: * 100% of collected performance fees go to the NODO protocol treasury. * Not shared with LPs or operators unless explicitly specified in a future vault’s terms. ### Management Fee * Current Rate: 0% * Management fees are disabled by default to maintain capital efficiency for depositors. ### User Protections & Exit Flexibility * No Lockups: Users may withdraw funds at any time unless an emergency shutdown is triggered. * No Withdrawal Fees: Users are never charged fees for exiting the vault. * Principal Protection via HWM: * Depositors never subsidize past gains. * Fees only apply to new profits earned beyond their personal entry NAV. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.nodo.xyz/public/economic-mechanisms/fee-structure.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.