💰Business Model

Protocol Fee: A commission on the fund's AUM.

How do you make money?

We operate a B2B(2B) model: we integrate our SaaS directly into fund administrators’ offerings so they can provide automated onchain fund operations to their fund-manager clients.

Our pricing:

• a flat platform fee (e.g. $499/month)

• and a % of AUM (e.g. 0.1% bps)

Directly embedded inside the administrator’s existing pricing. The administrator charges their client, and we take a commission from the revenue they generate using our solution, turning Fume into a new revenue stream for them and giving us scalable, recurring, AUM-linked income.

How much could you make?

Example of a hedge fund with $50M of Assets Under Management:

• Flat fee: $250/month = $3,000/year

• AUM fee: 5 bps (0.05%)

• For a $50M fund, AUM fee = $25,000/year

• Total revenue generated: $28,000/year

• We keep 50% (revenue-share with administrator)

~$14k/year to Fume.

Currently, there are approximately 5,000 funds, SMAs, and alike using stablecoins. Today it would generate ~$70M/year for Fume. This figure is rapidly increasing.

How did you come up with this pricing?

We arrived at this pricing by working closely with fund administrators: some charge a fixed fee, others charge a % of AUM, and their pricing structures vary widely. If we imposed a single model, they would simply pass it down to fund managers in inconsistent ways. Instead, we let each administrator set the price that fits their model and market, and we take a commission on whatever revenue they generate using our solution. This makes Fume a clean, flexible revenue stream for administrators and keeps our incentives fully aligned with fund growth.