Fees & How to Use
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Performance Fee
20%
Charged on profits above the High Water Mark
Management Fee
1% per year
Annual fee on total assets under management
Deposit Fee
0%
No fee on deposits
Redemption Fee
0.1%
Small fee on withdrawals
The performance fee is only charged on new profits using a High Water Mark system:
Share Price History:
$1.00 → $1.10 → $1.05 → $1.15
↑ Fee No fee ↑ Fee
(on $0.10) (only on $0.05,
i.e. $1.15-$1.10)Fee is only charged when share price exceeds the previous HWM
If the vault loses money and recovers, no fee until the previous high is surpassed
Calculated using LP token dilution model — depositor share prices reflect fees automatically
Profits are locked and released linearly over a configurable duration (Yearn V2 model). This prevents frontrunning — you can't deposit right before a profit event and withdraw immediately after.
All fee parameters are set on-chain and visible to anyone.
A Solana wallet (Phantom, Solflare, or Backpack recommended)
USDC on Solana (SPL token)
A small amount of SOL for transaction fees (~0.01 SOL)
Visit the Dawn Vault web app and Connect Wallet
Select the USDC Vault and review details (current APY, TVL, remaining capacity)
Enter the amount of USDC to deposit
Review the transaction summary (deposit amount, LP tokens to receive, estimated APY)
Click Deposit and approve the transaction in your wallet
After confirmation, LP tokens appear in your wallet and yield begins accruing immediately
Your USDC is transferred to the vault's PDA (non-custodial)
You receive LP tokens representing your share of the vault
The Manager Bot allocates your capital according to the current strategy
Yield auto-compounds — no claiming or harvesting needed
Connect your wallet and navigate to the USDC Vault page
Click Withdraw and enter the amount of LP tokens to redeem (or "Max" for full withdrawal)
Review: LP tokens to burn, USDC to receive (after 0.1% redemption fee)
Click Confirm Withdrawal and approve the transaction
USDC appears in your wallet
Your withdrawal amount = LP tokens × current share price
Standard: Processed immediately on-chain
Large withdrawals: May take additional time if positions need to be unwound
No lock-up period — withdraw anytime
Yield is reflected in the share price (no separate "claim" step)
Performance fees are already deducted from the share price — what you see is what you get
Deposits may be rejected if the vault has reached its TVL cap
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