Fees and buybacks
Product fees and the planned relationship with EDEL buybacks.
Product activity and buyback capacity
Product fees are intended to support EDEL purchases. The amount available for buybacks will depend on activity, operating costs and the allocation policy.
Intended fee and buyback relationship
Drag to pan, or use arrow keys when the diagram is focused. Use plus and minus to zoom, and zero to fit. On a touch screen, pinch to zoom.
Two product fee sources
Our planned economic model combines fees from Stocks primary minting and redemption with Markets perpetual trading fees. Primary fees apply to operations by approved participants; trading fees apply to Markets activity.
Secondary stock venues set their own trading fees. A perpetual trade does not require a stock issuance, and users do not automatically pay both fee streams on each action.
Where fees arise
Fees depend on the operation being performed. The table below explains the planned fee structure; rates and payment terms will be set out in the applicable schedules.
| Operation | How the fee model applies | Applicable terms |
|---|---|---|
| Primary stock mint | Primary minting fee. | Rate, minimums, exemptions and payment terms. |
| Primary stock redemption | Primary redemption fee; approved participants receive cash value. | Rate, minimums and redemption terms. |
| Secondary stock trade | The venue sets its own trading fees; the trade is not a new primary mint or redemption. | The selected venue’s applicable schedule. |
| Post eligible stocks as collateral | No separate Margin Layer fee has been specified. | The planned collateral facility and its full terms. |
| Perpetual fill | Maker or taker trading fee at the fill. | Applicable market/account rate and published production schedule. |
| Place or cancel an order | This model does not include a separate order-placement or cancellation fee. | The applicable venue terms. |
| Funding payment | A transfer between position holders, distinct from trading-fee revenue. | Market funding rules and payment interval. |
Buyback terms
An EDEL buyback is a purchase of the ecosystem token, separate from cash redemption of an Edel Stock. Buyback allocation, timing and the treatment of repurchased tokens remain to be defined.
| Area | Parameters and terms |
|---|---|
| Stock-side primary fees | Rates, minimums, exemptions and charging terms. |
| Perpetual trading fees | Applicable market and account rates, set out in the production fee schedule. |
| Fee generation supporting buybacks | Allocation percentage, cadence, minimum amount and automation. |
| Repurchased EDEL | Whether tokens are held or burned. |
| Tokenholder benefit | No contractual revenue share or guarantee of buybacks or price outcomes. |
The role of the Margin Layer
The planned Margin Layer would connect stock exposure with ongoing trading activity. No separate Margin Layer fee has been specified. Funding payments, trading fees and stock redemption remain separate operations.