> For the complete documentation index, see [llms.txt](https://perena.gitbook.io/perena/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://perena.gitbook.io/perena/products/yield-bearing-risk-assets/fees.md).

# Fees

Protocol, network, and execution costs for SOL\*.

SOL\* transactions can include protocol fees, network fees, and third-party execution costs.

Exact protocol fee settings are configured on-chain for the token.

### Protocol fees

Perena may charge fees when SOL\* is bought or sold.

These can include:

* **Mint fee** when buying SOL\*. Currently set to 5bps.
* **Burn fee** when selling SOL\*. Currently set to 25bps.
* **Performance fee** on yield generated by the strategy. Currently set to 10%.

Some mint and burn fees may benefit existing token holders. 

### Network fees

Every Solana transaction requires network fees.

Transactions may also include priority fees during network congestion.

### Third-party execution costs

Strategy operations can use swaps, lending markets, and other external protocols.

These operations can introduce costs such as:

* Slippage.
* Third-party protocol fees.
* Price impact.
* Failed transaction costs.

### Displayed APY

The APY displayed for SOL\* is net of the performance fee.

It estimates the yield that accrues to you after the fee. It is not a headline rate with a later APY deduction.

Displayed APY is based on recent on-chain performance. Underlying rates float, so APY can change and is not guaranteed.

Mint and burn fees are separate one-time costs. They apply when you buy or sell and are shown during the transaction.

{% hint style="info" %}
The SOL\* token detail page is the source for current fee settings and token-specific behavior.
{% endhint %}