Fees
Explanation of fees in Honey's peer-to-contract protocol
Protocol fees
Honey charges a 10% commission on interest rates which go to the Honey DAO multisig wallet.
Admin fees
Lending pool creators can institute a fee in their lending pools. These admin fees also work as a commission on interest rates, and can range anywhere from 0% to 50% of the accrued interest in a lending pool.
Admin fees are deducted from the total interest paid at the same time as protocol fees.
Borrow fees
These fees are a commission on the debt issued by the protocol. Honey takes 1.5% of the debt upon borrowing on Solana.
Borrow fees on Honey's EVM beta (Polygon, Arbitrum, etc.) are currently set at 2%.
Revenue
Currently, the Honey Development Association and Honey Labs are eligible to claim these fees to fund development of the protocol.
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