DocsBankroll
Economics
Fees, and how the High-Water-Mark protects depositors.
The Bankroll charges three fees, each capped by the contract itself so they can never be raised past a hard ceiling:
| Fee | What it's for | Applies |
|---|---|---|
| Dilution fee | Protects existing depositors from someone depositing right before a big win just to capture value they didn't earn | On deposit |
| Withdrawal fee | Optional friction on exit, stays in the pool for remaining depositors | On withdrawal |
| Operator fee | Astro's share of profit (see High-Water-Mark below) | Only on new profit, above the previous peak |
High-Water-Mark
The operator fee is not taken on every winning round, only on profit above the Bankroll's all-time-high share price.
Concretely: if the share price drops after a bad stretch for the house, no operator fee is charged again until the Bankroll's share price has fully recovered past its previous peak. Depositors who stayed through a drawdown get 100% of the recovery back before any fee applies to gains beyond it.
This means depositors are never charged a fee on money that's just making up for a prior loss, only on genuinely new highs.