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  • Lending Transaction Fee
  • Borrowing Transaction Fee
  • Leverage Transaction Fee
  1. Protocol Mechanisms

Transaction Fees

Lending Transaction Fee

Formula:

Lending transaction fee rate = APR Γ— Lending Fee Rate Γ— (days to maturity/365)

Lending transaction fee = lending transaction fee rate Γ— lend amount

Currently, the Lending Fee Rate is 2%. This rate is determined by the TermMax protocol.

Example: If the lending rate (APR) is 10% and the lend amount is 1,000 USDC with 365 days to maturity:

  • Lending Fee Rate = 10% Γ— 2% Γ— (365/365) = 0.2%

  • Fee = 0.2% Γ— 1000 = 2 in unit of FT

Borrowing Transaction Fee

Formula:

Borrowing transaction fee rate = [GT Minting Reference Rate Γ— GT Minting Fee Rate + matched borrow rate Γ— Borrowing Fee Rate] Γ— (days to maturity/365)

Borrowing transaction fee = borrowing transaction fee rate Γ— borrowed amount

Currently:

  1. The Borrowing Fee Rate is 3%

  2. GT Minting Reference Rates:

    1. Stablecoins: 10% (Subject to prevailing market conditions from time to time)

    2. Non-Stablecoins: 4%

  3. GT Minting Fee Rate: 10%

Example: If the matched borrow rate is 6% and the borrowed asset is 1,000 USDC with 90 days to maturity:

  • Borrowing transaction fee rate = [10% Γ— 10% + 6% Γ— 3%] Γ— (90/365) = 0.246575% + 0.04438% = 0.290955%

  • Borrowing transaction fee = 0.290955% Γ— 1,000 = 2.90955 in unit of FT

Leverage Transaction Fee

Formula: The leverage transaction fee rate is identical to the borrowing transaction fee rate.

Total borrowing amount = input amount Γ— (leverage multiplier - 1)

Leverage transaction fee = total borrowing amount Γ— borrowing transaction fee rate

Example: With a borrowing transaction fee rate of 0.290955%, an input amount of 1,000 USDC, and a leverage multiplier of 4.8:

  • Leverage transaction fee = 1,000 Γ— (4.8 - 1) Γ— 0.290955% = 11.05629 in unit of FT

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Last updated 22 days ago

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