> For the complete documentation index, see [llms.txt](https://docs.familio.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.familio.trade/the-product/fees.md).

# Fees

No fees on deposits. No fees on exits. No fees on unrealised bags. Fees are taken only when a **sell** realises quote profit, after prior losses are made back.

## Performance fee (head)

Set at creation, **maximum 30%** (`MAX_PERF_FEE_BPS = 3_000`). The head can call `setPerfFee` to **lower** it. Raising it reverts (`CannotIncreaseFee`).

KOL families default to 10% in the wizard; friends families default to 0%. The family page prints it as "x% of profit".

The fee accrues as claimable quote on the vault (`headFeesAccrued`). The head withdraws it with `claimHeadFees(to)`. It is not taken from a member's exit slice; it is reserved out of free quote so `freeQuote()` already excludes it.

## Loss carry

Each bag has a quote `costBasis`. Buys (including mirror-entry legs) add to it. In-kind exits reduce it pro-rata. On a sell:

`realised = quoteOut − costBasis × sold / heldBefore`

* If realised is negative, that amount is added to `lossCarry`. No fees.
* If realised is positive, it first burns down `lossCarry`. Only the remainder is fee-able.

So a family that is down 1 ETH and then sells for a 1.2 ETH gain is charged on 0.2 ETH, not on 1.2. Distributions are not fee events: paying out cash cannot be used to extract a performance cut.

## Protocol fee

Set on the factory, **maximum 5%** (`MAX_PROTOCOL_FEE_BPS = 500`). **Currently 1%** of fee-able realised profit (`protocolFeeBps = 100` on the live factory). Sent immediately to the factory `treasury` on the sell. The protocol owner can change it up to the 5% cap; they cannot take it from deposits or exits.

Head fee and protocol fee are both percentages of the **same** fee-able remainder. They do not stack as "protocol takes 1% of the head's cut".

## Create fee

The factory may charge a flat ETH `createFee` to open a family (anti-spam, not a revenue line). `msg.value` covers the create fee plus, on WETH families, the founding deposit. Today the live factory's `createFee` is **0**. If it is set later, the create wizard shows it before you confirm.

## What you still pay that is not a familio fee

* **Gas** on Robinhood Chain, paid by whoever sends the transaction.
* **DEX fees** (Uniswap pool fee, Pons curve / hook fee, launch-window snipe tax). Those go to the venue, not to familio or the head.
* **Slippage** on your own join legs.

## Example

Vault sells a bag. Cost basis of the sold amount is 1 ETH. Quote received is 1.5 ETH. Loss carry is 0.2 ETH.

* Fee-able = 1.5 − 1.0 − 0.2 = 0.3 ETH
* Head at 10% → 0.03 ETH accrued
* Protocol at 1% → 0.03 ETH to treasury
* The rest stays in the vault as free quote (members' bags)

If the same sell had realised −0.1 ETH, `lossCarry` would rise by 0.1 and nobody would be charged.

## Fair exit pools

A [fair exit](/the-product/fair-exit.md) pool charges a fixed **1%** of the ETH raised (`FairExit.FEE_BPS = 100`, a constant in the contract, not a setting). It is paid to the factory `treasury` when the pool settles. The operator who runs the sell earns nothing; the other 99% is split by deposit.


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