Fees
Spout's fees are simple, transparent, and aligned: the protocol only earns when lenders earn. Here is exactly what each side pays.
Borrowers
Interest: 0%, always. No origination fee, no maintenance fee, no prepayment penalty. Your collateral generates yield through the options cycle, and that yield funds the lender side. Charging interest on top would be charging twice for the same activity.
Transaction fee: 0.20% (20 bps). Applies when you buy or sell spAssets through the app, covering minting, redemption, and broker execution on the underlying shares. If you deposit equities already tokenized elsewhere, it does not apply, since nothing is minted or redeemed.
Liquidation fee: variable, and only if you are liquidated. Instead of a flat penalty, the fee equals your asset's liquidation buffer, the spread between the 50% you borrowed at and the LTV where liquidation triggers. That runs from roughly 4% on the steadiest collateral to about 12.5% on the most volatile, charged only on the collateral actually sold, with a slice going to the Insurance Fund. You pay in proportion to the risk your asset carries rather than a one-size-fits-all rate.
Lenders
Deposits: free. Putting stablecoins into the lending pool costs nothing.
Protocol fee: 20% of gross premium. Taken from each cycle's options premium before distribution; lenders receive the other 80%. This is how the protocol is funded, covering operations, Insurance Fund contributions until it reaches target, and the treasury. It is visible in every cycle's settlement breakdown.
Withdrawal fee: 0.20% (20 bps). Applies to stablecoins leaving the pool and helps maintain pool liquidity. Jumping ahead of the queue for an instant exit adds a dynamic 0% to 3% haircut, described in the exit-mechanics section.
Both sides
Standard Solana network fees apply to any onchain action (borrow, repay, deposit, withdraw). They are paid to the network, not collected by Spout, and run to fractions of a cent.