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Blendfi
DocsThe rent

The money

The monthly rent

Nothing to pay, and it is not free. Both of those are true.

Every fund charges rent, and none of the answers is nothing. It is the fund's standing charge for being held, it is the one number its creator gets to pick, and it is frozen the moment the fund is made. The four answers are 0.5% a month, 0.65% a month, 0.8% a month or 1% a month, and the fund's own page states the one it charges. It is worth a look before you join, because they are a long way apart.

  1. The creator picks a step

    One of four, once, when the fund is made. It is printed on the fund before anyone joins, and nobody can change it afterwards.

  2. Every second, a sliver moves

    Your share count never changes. What each share is a share of edges down, continuously, never on a date and never as a bill.

  3. It is split like every other fee

    60% of it to the person who made the fund, more if they hold a lock rank, and the rest to Blendfi. Nobody else takes a cut.

  4. The creator collects it as shares

    Paid in shares of their own fund, claimed whenever they like. Their pay rides the fund exactly as your slice does.

0.5% a month

6% a year

Your share count stays put and your slice edges down every second. A year of it moves 6% of the fund to the creator and Blendfi.

0.65% a month

7.8% a year

Your share count stays put and your slice edges down every second. A year of it moves 7.8% of the fund to the creator and Blendfi.

0.8% a month

9.6% a year

Your share count stays put and your slice edges down every second. A year of it moves 9.6% of the fund to the creator and Blendfi.

1% a month

12% a year

Your share count stays put and your slice edges down every second. A year of it moves 12% of the fund to the creator and Blendfi.

If you run a fund, the rent is your pay for minding it, and it is the one price you set. The rate is fixed on the day the fund is made. The money it is charged on is not: a fund that does well grows by its returns and by the people who join because of them, and the same rate on a bigger fund is a bigger pay.

The same fund at launch, after a good six months and after a good year, growing under a rent rate that stays exactly where it was set, with the creator’s pay growing in step with the fundYour rate never moves. The fund does.Your rate: 0.5% a month, picked once1xLaunch1xreturns and new joiners1.5xA good six months1.5xreturns and new joiners2xA good year2xThe fundWhat the rent brings you (60% of it is yours)The same fund at launch, after a good six months and after a good year, growing under a rent rate that stays exactly where it was set, with the creator’s pay growing in step with the fundYour rate never moves. The fund does.Your rate: 0.5% a month, picked onceLaunch1x1xreturns and new joinersA good six months1.5x1.5xreturns and new joinersA good year2x2xThe fundWhat the rent brings you (60% of it is yours)
The rate is picked once and never moves. What grows is the fund it is charged on, by its returns and by the people who join because of them, and the pay grows with it. Nobody approves a raise. The fund is the raise.

The manager's deal

What running a fund pays, by the fund’s size and the step its creator picked. Pick a rank to see the creator’s share of every fee move.

The creator's rank
The creator keeps 60% of every fee40% to Blendfi
A fund holdingAs backers jointhe 1% fee, once0.5% a monthrent0.65% a monthrent0.8% a monthrent1% a monthrent
$10,000$60once$30a month$360 a year$39a month$468 a year$48a month$576 a year$60a month$720 a year
$100,000$600once$300a month$3,600 a year$390a month$4,680 a year$480a month$5,760 a year$600a month$7,200 a year
$1,000,000$6,000once$3,000a month$36,000 a year$3,900a month$46,800 a year$4,800a month$57,600 a year$6,000a month$72,000 a year
$10,000,000$60,000once$30,000a month$360,000 a year$39,000a month$468,000 a year$48,000a month$576,000 a year$60,000a month$720,000 a year

Dollar figures are an illustration at a steady fund value. On chain the creator is paid in shares of their own fund, whenever they choose to claim them. A year is twelve months of it and never more.

Your share count never changes. What changes is how much of the fund one share is, and it edges down every second rather than dropping on the first of the month.
The same fund on day one and a year later, with the year’s rent carved off its end and one holder’s slice drawn inside bothWhat a year of rent takesYour share count never changesYour sliceEvery other backerRent, to the creator and the platformDay oneNothing taken yet6.2%After one yearThe same shares, a smaller slice5.46%12%12 steps of 1%, one a month, come to 12% in a year and no further.The four steps a creator picks at creationA monthA year0.5%6%0.65%7.8%0.8%9.6%1%12%Drawn aboveThe same fund on day one and a year later, with the year’s rent carved off its end and one holder’s slice drawn inside bothWhat a year of rent takesYour share count never changesYour sliceEvery other backerRent, to the creator and the platformDay oneNothing taken yet6.2%your sliceAfter one year5.46%your slice, from the same shares12%to the creator and the platform12 steps of 1%, one a month,come to 12% in a year and no further.The four steps a creator picks at creationA monthA year0.5%6%0.65%7.8%0.8%9.6%1%12%Drawn above
Your share count never changes, but the slice of the fund those shares are worth edges down every second at the monthly rate the creator picked, and after a year on the dearest step it has moved by that step’s yearly rate and no further.
Two funds on the same rent step over one year, one traded once and one traded every week, with the same band of rent carved off the end of eachA clock, not a meterOne year at 1% a monthTraded once12%Traded every week12%Day oneA year laterThe same rent, to the secondIt is taken whenever the fund is touched, for the time since it was last touched,and for nothing else. A fund left alone for over a year is charged one year; the rest is forgiven.Two funds on the same rent step over one year, one traded once and one traded every week, with the same band of rent carved off the end of eachA clock, not a meterOne year at 1% a monthTraded once12%Traded every week12%Day oneA year laterThe same rent, to the secondIt is taken whenever the fund is touched,for the time since it was last touched,and for nothing else. A fund left alonefor over a year is charged one year;the rest is forgiven.
The rent is measured by the clock. A fund traded every week takes no more of it than a fund traded once, because it is charged for the time that passed and never for what happened in it.

So there is no bill, no invoice, no date and nothing to remember. You will never be asked for the rent and you can never be late with it. It is taken out of the slice, quietly and continuously, and the only place you would notice it is by comparing your slice today with your slice a year ago.

Where it goes is the same place every other fee goes: 60% of it to the person who made the fund, rising with their own lock rank at our expense and never at yours, and the rest to Blendfi, exactly the split on Every fee. Nobody else takes a cut and there is nothing else in it.

It is charged whether the fund is up or down. It is not a performance fee, there is no high-water mark and there is no profit share anywhere in this product.

Seen from a backer's side, the rent is the price of somebody minding the fund, and it is printed before you join. A fund that earns it keeps its backers. One that does not empties itself, because leaving is instant and no rate can hold anyone in.