$CLUBY

Protocol fees

10%

of the interest the vault earns — never of the deposit. A lender who puts in a dollar can always take a dollar back out; the fee only ever touches yield that was already produced.

Today it is 0%, for the first 90 days. A curator with no track record charging a full fee is asking to be paid for a service nobody has watched work yet. Which also means every split on this page is currently a share of nothing, and this page says so rather than letting you assume otherwise.

Stakers

75%

Streamed by the second in USDG, not in newly minted tokens. A reward paid in the thing being minted is not a reward, it is dilution with a nicer label — and it is why most staking yields fall the moment anyone tries to leave.

Treasury

25%

Audits, oracle coverage, keeper gas, and the liquidity that makes a new market usable on the day it opens rather than a month later.

Borrower rebate

10%

of the interest a borrower pays comes back to them weekly, in USDG, through a Merkle epoch weighted by an on-chain credit score. The score can move what you are paid. It can never move what you are allowed to borrow — that is the oracle's job and the liquidation threshold's, and handing it to a score would turn a spreadsheet into a risk parameter.

Builder share

50%

of the fee on volume a builder referred goes to that builder, permanently, and they may charge their own on top and keep all of it. Attribution rides in a calldata suffix, so an integrator needs no permission and no contract of ours.

Flash loan fee

0%

Morpho charges nothing for a flash loan and neither do we. It is what lets a liquidation happen with no capital, which keeps liquidations prompt and competitive instead of reserved for whoever is already rich.

The token's own trading fee

5%

A token launched on this chain collects a creator fee on its own trading whether or not anyone directs it anywhere. 5% of it is routed to stakers rather than to us — not because we are generous, but because the fee gets collected regardless and stakers are the better recipient.

Stake

Staked $CLUBY earns 75% of protocol fees plus 5% of the token's trading fee, both in USDG, streamed by the second. No lock: staking and unstaking are immediate, and unclaimed rewards survive both. The contract can only ever promise what has already been sent to it.

Cheaper credit

Holding $CLUBY raises your weight in the weekly rebate, so a borrower who holds it pays less net interest on the same position. It changes the price of credit, never the terms of it — your liquidation threshold is identical either way.

Supply boost

Holding $CLUBY raises the share of vault yield you keep. Same deposit, same risk, same withdrawal rights — the boost moves the fee, not the capital, and it cannot affect what any other depositor is owed.

Rebates are paid by

0 epochs

A Merkle distributor holding USDG. It refuses to publish an epoch its own balance cannot cover. 0x34A7958C9C2bb5Cc2806ECd31c756A8e083C3965

Waiting to be claimed

$24

USDG held by that contract right now. Until the performance fee is switched on there is nothing to fund it with, so this reads zero. That is the honest number and it is the one we show.

Paid out so far

$0

Summed across every epoch's claim total. It moves the moment the first borrower claims, and no sooner.

Performance fee today

0%

Read from the vault itself. It is zero, so there is no revenue to split yet. 0x90a82053b9012b6ea2D95f88ee81da969d4D8A85

Notice before any change takes effect

24 hours

The vault's timelock, on chain. A fee rise, a new market, a cap increase — each is submitted in public and cannot execute until this has elapsed.

Scores are recorded in

0–1000

The credit registry. The keeper publishes scores hourly. 0x86e8f3Bf88087774a530d70FfaD19b5257054E53

01

Markets and fees

35 isolated markets are live on chain, with the contracts that collect and distribute a fee already deployed and owned by the multisig.

02

The fee switches on

The performance fee moves off zero after the first 90 days, in public, behind the timelock. That is the first moment any of the splits above is a share of something.

03

The token

Supply, venue and allocation get fixed on chain, and the address appears on this page from the registry within thirty seconds of the transaction that publishes it.

04

Staking and governance

Staking opens against the published token; stakers get a say in new markets, caps and risk parameters — never in an existing market's threshold, which nothing can change.