> For the complete documentation index, see [llms.txt](https://docs.mangrove.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.mangrove.exchange/dev/vaults/custom-interactions/managing-a-vault/setting-fee.md). # Setting fee {% hint style="info" %} At the contract level, we hav e 100% = 1e5 {% endhint %} For the vaults, there exists two types of fees. Management fees, and performance fees. Management fees are a portion of the manage assets expressed in percentage per year. They are capped at 5%, but are not recommended to use. Performance fees are computed thanks to the oracle as the performance on quote value of the position. They are capped at 50%. The fee recipient is an account that will receive the computed fees in vault shares. Setting a new fee recipient will transfer all pending fees to the previous fee recipient. {% @github-files/github-code-block url="" %} --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.mangrove.exchange/dev/vaults/custom-interactions/managing-a-vault/setting-fee.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.