> For the complete documentation index, see [llms.txt](https://uvmoney.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://uvmoney.gitbook.io/docs/ultraviolet/fees.md).

# Fees

**Minting & Redemption**\
A dynamic fee is applied to UV asset minting and redemptions. This is based on a variety of factors including total UV assets in supply and within liquidity pools. When liquidity pools become unbalanced or skweed, mint and redemption fees will increase/decrease accordingly to ensure balance within pools is kept. \
Fees will be 0.25% at a base and increase to a maximum of 25% in extreme scenarios. 

There is no fee for uvBGT minting via the yBGT migration

**Management Fees**\
Ultraviolet vaults have a variable management fee dependending on yield upto 20% annualised. 

#### Redemption for BGT

yBGT can be redeemed into BERA with a 10% fee application