Fees and limits

Fees

Fee	Rate	Paid when
Platform fee	5% of the premium	By the business, at purchase
Payout fee	2% of the payout	Deducted at payout
Liquidity fee	2% of the premium	Deducted from underwriters' premium at purchase
Creator share	5% of each fee above	Paid to the pool creator from the fee
Pool creation	25 USDC	By the creator, at creation
Circle transfer fee	About 0.01% from Base; about 0.07 USDC to Base	Deducted when USDC moves between networks; capped at 0.1% for deposits
Network fees	None	Covered through relayers

Details: Fees.

Limit	Value
Minimum notional, deposit and pool seed	10 USDC
Tenor	1 to 365 days
Tenors per pool	Up to 16
Pool markup	90% to 500% of the fair price
Underwriters per pool	Up to 50
Quote validity	120 seconds, once
Strike	From today's rate to less than 2× (payables) or more than 0.5× (receivables), and no closer to today's rate than the pool allows
Strike precision	0.0001% from today's rate (four decimal places of a percent)
Limit	Within 0.5× to 2× today's rate
Settlement rate	Within 0.5× to 2× the rate at purchase
Minimum Base deposit	1 USDC on testnet; smaller amounts wait until more arrives
Session length	Up to 12 hours; ends when the browser tab closes
Business accounts created per person	3
Business account members	Up to 15 admins and 15 operators; any number of viewers
Business invitation	Valid once, for the invited email only, for 7 days
Sign-in code	6 digits, 5 minutes, 5 attempts