Feenomics
What fees are there for using The Hermes Protocol?
Last updated
What fees are there for using The Hermes Protocol?
Last updated
The Hermes Protocol is built on an investor-first business model. We thrive by providing the best experience for all members of our community. Part of this is having the lowest fees for utilizing our platform. We will continue to offer low/no-fee services like vaults, zappers, and migrators to help enable easy onboarding for new investors to our platform.
The swap fee for The Hermes Protocol DEX will be set at 0.2%. This is 20% cheaper than any other exchange on Harmony. From this swap fee, 85% will be returned to LP providers as trading fees. 15% of this fee will be used as ‘Platform fees’ that will be distributed as follows: 50% to IRIS buyback, 25% to xHRMS and 25% to sHRMS.
| Monthly Trading Volume Example | $120,000,000 | % of Total Swap | % of Category |
|---|---|---|---|
As we are no longer reliant on new deposits to fund development, our farms/pools/vaults will have no deposit fee. To help prevent flash/loan attacks and incentivize stable liquidity, we will implement a tiered withdrawal fee. The LP’s collected from these fees will be locked as protocol owned liquidity to help grow stable liquidity over time.
Deposit and Withdraw in the same block: 15%
Withdraw within days 0-7: 1%
Withdraw between 1-2 weeks: 0.2%
Withdraw after 2 weeks: 0.05%
Total Fees
$240,000
0.2000%
100%
LP Fees
$204,000
0.1700%
85%
IRIS buyback
$18,000
0.015%
7.5%
HRMS Staking (xHRMS)
$9,000
0.0075%
3.75%
HRMS Staking (sHRMS)
$9,000
0.0075%
3.75%