Fee schedule
A Thaler vault has three fees over its lifetime. All are transparent and settle on chain.Detail on each fee
Vault creation fee
Vault creation fee
A small fixed fee paid at creation. It is denominated in SOL and is set so that creating a
vault does not require any additional configuration. The current value is shown on the
Create Vault screen before the user confirms the transaction.
Service fee
Service fee
A flat 11 % of the realised yield, collected at claim time and at close time. The protocol
never takes a share of the deposit. If the vault produces no yield, the service fee is
zero.
Closure penalty
Closure penalty
A fee that starts at 3 % of the deposit on day 0 and decays linearly to 0 % by day 96. If
the user closes after day 96 there is no penalty. The schedule is enforced by the
immutable policy and cannot be waived by the protocol.
Fees the protocol does not charge
Network fees
Transactions emitted by the worker on the vault’s behalf pay Solana network fees. These are paid out of the vault’s balance, not by the user, and are typically a few cents per transaction. They are not a Thaler fee; they are a Solana network cost.Net APY versus gross APY
The headline APY shown for each tier on the Strategies and Create Vault screens is the net APY. The service fee is already deducted from the gross strategy return:Worked example: full-year hold, no early close
A 2 SOL deposit on the Balanced tier (median net APY 11.75 %, yield floor 7.3 %):
The vault’s payout band sits between 2.146 SOL and 2.296 SOL, with the median around 2.235 SOL.
Worked example: closing on day 30
The same Balanced vault, closed on day 30. Median realised gross yield to date is approximately 1.04 %.
The closure penalty is the dominant cost in this example. Holding to day 96 would have avoided it entirely.
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Yield floor
The minimum return commitment after the service fee is taken.
Principal protection
What backs the principal on a normal close, and what protection does not cover.