> For the complete documentation index, see [llms.txt](https://docs.tesseract.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tesseract.fi/dedicated-client-vaults/fees-and-commercial-model.md).

# Fees & Commercial Model

### Fee Structure

| Fee             | Amount               |
| --------------- | -------------------- |
| Management fee  | 0.25% on AUM         |
| Performance fee | 30% on vault profits |
| Deposit fee     | 0%                   |
| Withdrawal fee  | 0%                   |

### Indicative Yields

Current indicative rates for every strategy are shown in the [Tesseract app](https://app.tesseract.fi), which reads them from the vault registry. They are deliberately not repeated here: rates are variable and a figure copied into documentation goes stale silently.

> *Rates are indicative gross targets, not guaranteed, and will vary. Advanced strategies use leverage. Capital is at risk. The full rate terms and risk disclosure are published with the rates in the app and at* [*tesseract.fi/vaults*](https://tesseract.fi/vaults/)*.*

### Commercial Model

Distribution partners can integrate DCVs directly into their own product and offer Tesseract yield to their end clients. The integration path — what's required on your side, how users onboard, how vaults are operated, and how reporting flows back — is covered in the [Integration Guide](/dedicated-client-vaults/integration-guide.md) (Scenario B specifically).

Two commercial structures are available for distribution partners:

1. **Introducer / Distribution Agreement (preferred).** Partners earn a revenue share of the performance fee for clients they introduce. Early supporters receive higher revenue share percentages, which decline as more partners join the network.
2. **Technology Access Fee.** An alternative model based on AUM deployed, useful where revenue sharing faces regulatory constraints (e.g. for US-regulated entities).

The choice of model, exact revenue share, and any per-client terms are agreed contractually during partnership setup on a per-client basis — [get in touch](https://tesseract.fi/#contact-us).

***

> **Risks.** Discretionary portfolio management of crypto-assets involves significant risks, including smart contract risk, DeFi protocol risk, oracle risk, liquidity risk, market stress risk, counterparty risk, custody risk and regulatory change risk, and the risk of total loss of capital. Yields are indicative only, not guaranteed, and will vary.


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