Fees

Reiy collects fees during settlement as a split between the solver and the protocol.

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Fee computation

Three fee components are calculated per intent:

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Volume fee

$$\text{volume\_fee} = \left\lfloor \frac{\text{gross} \times \text{vol\_ppm}} {1\,000\,000} \right\rfloor$$ The volume fee uses the pair’s fee tier. If the payout after volume fee falls below the protected minimum, settlement is rejected.

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Surplus fee

$$\begin{aligned} \text{surplus} &= \text{payout\_after\_volume} - \text{protected\_min} \\ \text{surplus\_fee} &= \min\left( \left\lfloor \frac{\text{surplus} \times \text{surplus\_fee\_ppm}} {1\,000\,000} \right\rfloor, \; \left\lfloor \frac{\text{gross} \times \text{surplus\_fee\_cap\_ppm}} {1\,000\,000} \right\rfloor \right) \end{aligned}$$ The surplus fee is the smaller of a percentage of surplus or a percentage of gross.

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Total fee cap

$$\text{total\_fee} = \min\left( \text{volume\_fee} + \text{surplus\_fee}, \; \left\lfloor \frac{\text{gross} \times \text{max\_total\_fee\_ppm}} {1\,000\,000} \right\rfloor \right)$$

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Net payout

The user receives $\text{gross} - \text{total\_fee}$.

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Solver split

$$\begin{aligned} \text{solver\_fee} &= \left\lfloor \frac{\text{total\_fee} \times \text{solver\_fee\_share\_ppm}} {1\,000\,000} \right\rfloor \\ \text{protocol\_fee} &= \text{total\_fee} - \text{solver\_fee} \end{aligned}$$ The solver fee is sent immediately. The protocol fee goes to a per-token FeeVault.

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Default parameters

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Fee tiers

Pairs are assigned one of four tiers:

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