Fees
Wagon charges fees to both borrower and investors. The fees will be used for maintaining Wagon network and insurance purposes.
Borrower's fees are fees paid by borrower. There are two types of borrower's fees:
Origination fee: the fee is charged to borrower when borrower is submitting its loan proposal. The fee will be used to review the loan proposal's credibility and reward the governance team in Wagon. The governance team will vote to decide if loan is eligible to be live in Wagon. The fee is at 0.2%.
Late fee: the fee is charged when borrower is late in making its interest at the agreed repayment schedule. The fee is charged at 0.1% of the loan amount per day and capped at the full loan payment amount.
Investor's fees are fees paid by investors. There are two types of investor's fees:
Protocol fee: the fee is charged when investor is making an investment to the lending pool. The protocol fee is at 0.25% from the invested amount
Admin fee: the fee is charged for each interest earned by the investor. The fee will be deducted right away from the earned interest. The admin fee is at 0.2%.
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