> ## Documentation Index
> Fetch the complete documentation index at: https://docs.groundtech.co/llms.txt
> Use this file to discover all available pages before exploring further.

# Fee Wrappers (Beta)

> Collect fees while your end users' funds remain invested in supported portfolio-wallet yield sources.

Fee wrappers let you collect fees while your end users' funds remain invested.
Fees are paid in shares representing a portion of the investment. Your fee
recipient can redeem those shares without waiting for end users to withdraw.

<Note>
  Fee wrappers are in beta and available for selected yield sources. Contact Ground
  to configure fees, recipients, and organization access.
</Note>

```mermaid theme={"theme":{"light":"github-light","dark":"github-dark"}}
flowchart LR
    Wallet[Portfolio Wallet] -->|Holds shares in| Wrapper[Fee Wrapper]
    Wrapper -->|Holds a position in| Vault[Underlying Vault]
    Wrapper -->|Issues fee shares to| Recipient[Fee Recipient]
```

## How fees accrue

Wrappers support two types of fees:

| Fee         | How it works                                 |
| ----------- | -------------------------------------------- |
| Management  | An annual percentage of the invested amount. |
| Performance | A percentage of eligible new gains           |

A 0.1% annual management fee on a constant \$10,000 investment is approximately
\$10 per year. A 20% performance fee on \$100 of eligible gains is \$20.

## Getting started

Contact Ground with the yield source you want to use, your fee rates, and the
wallet addresses that should receive fees. Ground sets up the wrapper and makes
it available to your organization.

Your integration continues to use the same Portfolio Wallet APIs. For configured
yield sources, Ground returns the fee wrapper instead of the underlying vault,
with balances and yields reflecting its fees.

## Collecting fees

Your fee recipient can check and redeem fee shares directly through the wrapper.
`previewBalanceOf(address)` shows both existing shares and pending fee shares.

When you redeem, the contract first mints any pending fee shares. Redeeming fee
shares follows the same withdrawal process as the underlying vault.