> For the complete documentation index, see [llms.txt](https://docs.enzyme.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.enzyme.finance/onyx-user-documentation/enzyme-vault/fees.md).

# Fees

Enzyme Vaults support a flexible fee framework, allowing managers to define **types, recipients, and assets** for fee collection.

## Fee Types

Enzyme.Onyx supports four fee types:

* **Management Fee** → Custom logic defined by the manager
* **Performance Fee** → Custom logic defined by the manager
* **Entrance Fee** → Flat percentage applied on deposits
* **Exit Fee** → Flat percentage applied on redemptions

## Fee Recipient

* Each fee can be directed to any arbitrary **fee recipient address**.
* If no fee recipient is set for the **entrance** or **exit** fee, the fee is **burned**, effectively redistributing it pro-rata to all existing shareholders.

## Fee Asset

* All fees are distributed in the **fee asset** established at deployment.
* The fee asset can be changed at any moment by the Vault Owner or Admins.

{% hint style="success" %}
For more information about fees management, please visit our Protocol Documentation [HERE](https://enzyme-finance.gitbook.io/onyx/onyx-protocol).
{% endhint %}


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