Annual Management Fee
Last updated: June 11, 2026
Annual Management Fee
The rate you see is the rate you get. The APY shown for a Stablebond is the yield you actually receive — Etherfuse's annual management fee has already been deducted before that rate is published on-chain. There is no separate charge and nothing for you to subtract.
What it is
The underlying government bond earns interest. Etherfuse keeps a small portion of that interest as its annual management fee, and the remainder is the rate you see and earn. The fee scales with the bond's yield — a 0.25% floor (yield ≤ 4.5%) ramping to a 1.5% cap (yield ≥ 10%):
Examples
How an underlying bond's yield becomes the rate you see. Figures are illustrative; rates change over time.
Underlying bond yield | Annual management fee | Rate you see (and receive) |
|---|---|---|
2.0% | 0.25% | ~1.75% |
4.5% | 0.25% | ~4.25% |
5.6% | ~0.50% | ~5.10% |
8.0% | ~1.05% | ~6.95% |
14.0% | 1.50% | ~12.50% |
Key things to remember
The rate you see is the rate you receive — the fee is already deducted on-chain before that rate is applied.
Higher-yield bonds carry a higher fee; lower-yield bonds carry a lower fee.
Rates change over time, so the rate you see (and the fee behind it) can change too.
Converting between assets is a separate charge — see Transaction fees.