Creator commissions
A vault created on the commission-enabled program can pay its creator commissions. Vaults on the earlier fee-free program keep fee-free terms and are not converted. For what investors see, read fees and execution costs.
Setting the terms
The New vault wizard's review step sets three commissions and the wallet that receives them:
| Commission | Default | Limit enforced by the program |
|---|---|---|
| Junior yield | 1% | at most 30% of Junior's positive yield, after Akashi's commission |
| Senior yield | 0% | at most 30% of Senior's positive yield, after its premium to Junior |
| Annual asset fee | 0% | at most 3% a year of invested capital, while the vault is Active |
The recipient is a Solana wallet or multisig. Commissions are paid to its USDC associated token account. Saving the review confirms the terms, and the vault records them when it is created. The program refuses any rate above a limit, so a mistyped rate cannot be deployed.
Changing them later
The vault admin queues a new rate schedule or a new recipient in the vault's Changes section. A change waits at least 72 hours, and longer when the vault's governance delay or the Junior notice plus 16 hours is longer. Holders can therefore leave before it applies. Profit booked before the change runs is charged at the old rates. A change proposed by a previous admin, or queued before another commission change ran, cannot run.
What you have earned
The vault's Overview shows Your commissions, read from the vault account:
- Earned so far: every commission booked to the creator since launch.
- Received: USDC already paid to the recipient.
- Owed: booked but not yet paid.
- Written down: commissions absorbed by losses before any investor lost money.
The panel also splits the earnings by Junior yield, Senior yield and assets, and shows Akashi's commission on the vault beside them.
When commissions are paid
Commissions are earned when a positive result is booked. Payment is a separate step that anyone can submit, usually the vault's executor. It pays only from idle USDC left after the vault's cash minimum and every open withdrawal request, and only to the recipient the vault names. Payment does not reduce investors' earnings a second time.
Unpaid commissions come after investors. A loss reduces them first. During final settlement, investors' recorded entitlements are paid before older unpaid commissions, and anything still unpaid when the settlement closes is written off. Amounts already paid are not taken back.