Fees

What Heron charges

A performance fee on gains only. If your position does not gain, there is no performance fee.

The cap is 12%, and it is enforced by the contract rather than by policy. Setting a fee above it does not raise the cap, the transaction reverts.

That number is worth knowing rather than trusting: it is a constant in HeronAccounting.sol, so raising it means deploying different code, not changing a setting.

High-water mark

You are charged on new gains, not on the same gains twice. If your position falls and then recovers, the recovery back to your previous peak is not charged again.

Network costs

Every transaction costs network fees, paid to the network rather than to Heron. Heron counts these before deciding, which is the whole point of the net-edge check: a gain that does not cover its own costs is not a gain.

On this deployment

GIWA Sepolia base fees are extremely low, which makes costs here unrepresentative of a real network. Do not read the economics on this deployment as the economics you would get with real money.