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Documentation Index

Fetch the complete documentation index at: https://docs.blackhaven.xyz/llms.txt

Use this file to discover all available pages before exploring further.

Blackhaven’s fee structure routes protocol revenue to the reserves.

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Revenue Sources

The reserves generates revenue from six primary sources:
  1. Early Exit Fees: Fees from users who exit before maturity
  2. Backing Arbitrage Module (BAM): Proceeds routed to the reserves when RBT trades above or below NAV
  3. Sequencer Rewards: Variable returns from staking MEGA from reserves, where available
  4. RBT Pool Trading Fees: Fees from the RBT-USDM liquidity pool

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Fee Split

To ensure the reserves have sufficient resources to build a strong foundation, there will be a fee split to protocol reserves to cover operating costs.
1

Genesis Phase 1

A 10% fee is applied to all bonds at issuance and routed to the reserves. This fee will go to help cover operating costs. The rate is fixed at launch and will transition to a dynamic structure at the discretion of core contributors.
2

Phase 2

Fees accrue to the reserves on an ongoing basis. Once governance is live, governance may propose mechanisms that direct a portion of collected fees toward ecosystem operations, liquidity, or protocol uses.
3

Governance-Directed Operations

Any such mechanisms are subject to governance approval through on-chain proposals. Mechanics, timing, and parameters are determined by governance and are not guaranteed at launch.