Fees
The protocol fee, optional interface fee, and fixed-price conversion of vault fee assets.
The launch configuration is 10 basis points to the protocol plus a planned 10 basis point fee on trades routed through the official deepstate.sh interface. The protocol fee is paid to the STATE vault; the interface fee remains outside these contracts.
| Fee | Recipient | Rate |
|---|---|---|
| Protocol | STATE vault | 10 bps |
| Interface | Deep State Incorporated | 10 bps |
| Official frontend total | 20 bps | |
Protocol fee
The router owner sets one global recipient and rate. The contract caps this rate at 100 basis points. A zero recipient with a zero rate disables it.
The fee applies only to matched quantity and is deducted from the taker's output token. It is rounded down to the token's smallest unit. The production deployment defaults to the STATE vault as recipient and 10 basis points as the rate.
STATE governance owns the router after deployment and can change the protocol fee through a successful proposal.
Official interface fee
Deep State Incorporated plans to charge 10 basis points for trades routed through deepstate.sh. That revenue belongs to the company and pays for the interface, listings, and operations.
This fee is not a protocol requirement. The matching contract does not enforce it, and STATE governance does not control it. Independent interfaces and aggregators may route directly, charge a different fee, select different pools, or build another transaction flow around the same contracts.
Every interface should disclose its fee and recipient before signature.
Effective price
"Superior price" should be compared after the full route cost. A trader using deepstate.sh should evaluate the book price plus the planned 20 basis point combined fee, gas, slippage across consumed orders, and any token wrapping costs.
An external interface paying only the protocol fee may have a different all-in result against the same book.
Fee destination
Protocol fees arrive in the token the taker receives. When the recipient is the STATE vault, holders can redeem selected balances pro-rata with redeemAssets, or redeem USDG alone with redeemValue.
Anyone can instead use buyFees to purchase the vault's complete balances of explicitly listed non-protected assets for exactly 10,000 USDG. DEEP, STATE, and USDG cannot be purchased through this path. NVDA and native ETH can be included.
The fixed price is not an oracle-backed fair-value guarantee. STATE holders, fee buyers, and interfaces must evaluate the listed balances against the fixed USDG payment.