> For the complete documentation index, see [llms.txt](https://docs.selcier.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.selcier.xyz/reference/fees.md).

# Fees

What companies, investors and integrators pay Selcier, who pays each charge, and what it buys.

Selcier's revenue comes from specific services: bringing a company on-chain, operating its share register, and settling its trades. A company's agreement sets out the charges, those that apply on-chain are deducted in plain view, and none are buried in a spread. To request a quote, write to <hello@selcier.xyz>.

## Summary of charges

| Charge                    | Paid by                         | Basis                                                          | Included                                                                                                            |
| ------------------------- | ------------------------------- | -------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------- |
| Tokenization setup        | Company                         | Once only, on tiers that depend on company stage               | Mainnet deployment, testnet rehearsal, rule configuration, cap table import and reconciliation, and verification    |
| Platform administration   | Company                         | Yearly, as basis points of tokenized value, subject to a floor | Support, Explorer listing, disclosures, governance, corporate actions, identity orchestration and registrar tooling |
| Offerings                 | Company                         | A percentage of the capital raised, taken at close             | Settlement, investor onboarding and the `OfferingVault`                                                             |
| Liquidity Windows and RFQ | Buyer and seller                | A percentage of traded notional, shared by both sides          | Atomic settlement, clearing and order handling                                                                      |
| API and partner access    | Venues, wallets and integrators | By usage                                                       | Webhooks, high-volume transfer checks and indexed data                                                              |

## How each charge is collected

**Setup and administration.** Selcier sends the company an invoice under the terms of its agreement.

**Offerings.** On a successful close, the `OfferingVault` makes the deduction. A single transaction shows the fee and the sum going to the treasury, and the total raised is recorded in the `OfferingClosed` event. If the offering fails, it costs nothing: no fee is charged and investors get all their money back.

**Liquidity Windows and RFQ.** The deduction happens at settlement. The fee is displayed to both buyer and seller ahead of order confirmation, and the transaction's settled amounts are already net of it. Orders that go unfilled are free.

**API access.** Issuers working with their own companies get it as part of platform administration. Venues and integrators reading data or checking transfers across many companies pay by usage.

## No charge

* **Holder gas.** Transaction fees for Portfolio users are sponsored by Selcier, so investors and employees can subscribe, vote, claim and sell without any ETH.
* **Holder onboarding.** Invited investors and holders pay nothing for identity verification.
* **Explorer access.** No account is required to view the public record.
* **Sandbox use.** Trying things out on Robinhood Chain testnet via `https://api.sandbox.selcier.xyz/v1` costs nothing.

## When fees change

An existing company's pricing moves only as its agreement permits, and with notice. Settlement contracts expose their fee parameters on-chain, and changing one means passing the same timelock used for other sensitive actions, which gives you sight of the change ahead of time.


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