Incubation fee (0.5% of vault size)

The incubation fee compensates the project curator for sourcing, due diligence, and portfolio construction:

Rate: 0.5% of total vault raise

When charged: At vault formation, deducted from the raise before capital deployment

Purpose: Covers geological analysis, management assessment, financial modelling, risk scoring, and project negotiation

Example: On a $12M vault, the incubation fee would be $600,000, leaving $11.4M for deployment into portfolio projects and AMM seeding.