Nimble will charge fees for processes that take place within the Nimble ecosystem. The initial fees are subject to change. The fees are required to ensure that the Nimble ecosystem remains running efficiently and we can continue to build the necessary technology to remain at the cutting edge of the insurance industry.
Funding Transaction Fees
LPs will be charged an issuance fee for the process of staking to risk pools. Depending on the size of liquidity and time it is locked, the percentage will vary.
All transactions in the Nimble protocol will be charged transaction fees, with the exception of the claims and claims voting transactions. Due to the nature of claims and the importance of a transparent and cooperative claims process, there will not be any fees charged in the claims filing, reporting, and voting processes. However, if Claims Adjuster is needed, fees will be applied.
The transaction fees will range from .1% - .75% depending on the total premiums, transaction amounts, and nature of transactions.
Withdrawal Transaction Fees
In the event an insured or LP decides to withdraw their currency prior to the natural end date of their lock and/or contract, a fee will be applied to this withdrawal. This is done to mitigate premature withdrawals of funds that will have negative impacts on the remainder of the community. This fee will be generated and calculated based on the time the capital has been in the pool, the total length of the contract, and the remaining term of the lock. The determination will be based loosely on the current short-rate cancellation tables in the traditional insurance space. At launch, the following will apply:
Nimble will also charge a transaction fee for all yield and investment return created from the Nimble Risk Pools. This fee will range between 2% - 5% depending on the capital size of the risk pool, the risks insurance, and the profitability of the risk pool.
These percentages will be calculated in regular intervals and available to the entire Nimble community.
Premium Commission Transaction Fees
When Nimble Insured pay premiums, a percentage of the premium will flow through to the Nimble Treasury as commission. The remainder flow through to capital providers based on their proportionate contribution to the risk pool.
