Summit DeFi
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  • Summit DeFi Introduction
  • Yield Multiplying By Example
  • Brief Overview
    • Oasis Overview
    • Totems and Elevations
    • Expeditions
    • SUMMIT Token
    • Everest Token
  • Social Accounts
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  • Roadmap
  • SUMMIT TOKEN & ECOSYSTEM
    • Tokenomics
    • Everest
    • Passthrough Strategy
  • Farming
    • Totems
      • How to: Select/Change Your Totem
      • Totems FAQ
    • Oasis Farms
    • Elevation Farms (Yield Multiplier)
      • How to: Elevation Farm
    • Yield Locking & Glacier Harvesting
    • Locking Summit For Everest
    • Elevating Funds
    • Random Number Generation
      • Potential for Abuse
  • Expedition
    • Everest - The Expedition
      • Joining the Expedition
    • Cosmic Deities
    • How are Expeditions Funded?
    • Expedition FAQ & Troubleshooting
  • FAQ
    • Risks
    • Emergency Withdrawal
    • Fantom - Token Contracts
    • Polygon - Token Contracts
  • Smart Contracts
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On this page
  • The Expedition Treasury
  • Deposit Fees & Withdrawal Fees
  • Passthrough Strategy Rewards
  1. Expedition

How are Expeditions Funded?

PreviousCosmic DeitiesNextExpedition FAQ & Troubleshooting

Last updated 3 years ago

Expeditions are funded out of the Expedition Treasury. You can think of this treasury as a 'back into the system' fund.

  1. 60% of Passthrough Staking Rewards goes to the Expedition Treasury

  2. 50% of withdrawal fees goes to the Expedition Treasury

  3. 50% of Summit for those who claim rewards early (before 4 epochs)

The Expedition Treasury

As it grows, the Expedition Treasury will be composed of multiple token and LP types coming from fees and Passthrough Strategy rewards.

Once daily, the following maintenance of the treasury will occur:

  • Earned LPs in the Expedition Treasury will be broken.

  • All funds will be converted into stablecoins to insulate against the market.

If we notice too many traders arbitraging against our buying process this will change, but rest assured, the aim is to maximize the amount of funds in the expedition.

Deposit Fees & Withdrawal Fees

Deposits fees will vary between 1.5% to 0% dependant on the chain and the fees applied from the underlying vault.

Withdrawal fees range from 7% to 1% (decreasing over 7 days), a portion of this will also supplement the Expedition.

Passthrough Strategy Rewards

Funds passed through to Vault-style and MasterChef-style contracts will automatically send 60% of rewards to the Expedition Fund address, 20% towards LP generation, and 20% to the Dev Fund.