> ## Documentation Index > Fetch the complete documentation index at: https://docs.cashmere.exchange/llms.txt > Use this file to discover all available pages before exploring further. # Fees, the Gatehouse and buybacks > Every charge, how the Gatehouse splits its ETH, and the two buyback contracts. ## Every charge All values are at launch settings. | Charge | Size, paid in | Goes to | | - | - | - | | Trading tax | 90%, falling through the launch hour, then 2% on a buy and 3% on a sell. Paid in ETH | The Gatehouse | | Pool fee | 1% of each trade, in the token you put in | Liquidity providers, with Base Camp's part going to the Team Safe | | Liquidity exit tax | On principal taken out: the ETH part at the sell rate, the CSM part at the buy rate | ETH to the Gatehouse, CSM burned | | Gate fee | 2% to 60% of every cash-out. Paid in CSM | Half burned out of supply, half to the Herd Share | | Herding toll | Once per goat at the bind (the Grazing toll), from your wallet. After that, on each Bring In except the first after a paid bind, from the Barn's balance first. A bind straight into a Barn pays only the Bring In toll, from the Barn's balance first. Paid in CSM | Burned out of supply | | Stall Permit | A falling price each roll. Paid in CSM, from the Barn's balance first | Burned out of supply | | Salt Lick, Salt Block | Off today. Paid in CSM | Burned out of supply | | New Barn lot | A falling price, at least 0.25 ETH | The Gatehouse | | Deed royalty | 10% of a marketplace sale, in that sale's currency, while transfers are on | The Treasury Safe | | Hay Bale early exit | 2% to 15%, off today. Paid in CSM | Half burned, half credited to the other open Bales, split by principal | | Goat Street's soft-stake fee | Goat Street's own fee, paid through the Bell | Goat Street | | Gas | ETH, on every transaction. A due Trek adds the settlement's gas | The chain | The code counts most of this burned CSM as retired. See [Tokenomics](https://docs.cashmere.exchange/mountain/tokenomics.md#how-csm-leaves-supply). A reset is not a fee. Its split is explained on [Stay active](https://docs.cashmere.exchange/mountain/cash-outs.md#stay-active-and-resets). **Gas only:** Check in, Turn Out, settling a Trek, opening a new roll, cancelling a Shepherd order, finishing a goat's clean-up, applying a Deed switch, a repair and collecting your pool fees all cost gas and nothing else. ## The Gatehouse split ![Where the Gatehouse ETH goes: the split at each Trek.](https://mintcdn.com/cashmerelabs/giUI0IL7C6w7fiSI/images/mountain/fee-flow-light.svg?fit=max\&auto=format\&n=giUI0IL7C6w7fiSI\&q=85\&s=5ed7c2c9cbf1251d69df3af572188986) ![Part 1 of 2 of the Gatehouse split: the two 15% shares.](https://mintcdn.com/cashmerelabs/giUI0IL7C6w7fiSI/images/mountain/fee-flow-phone-1-light.svg?fit=max\&auto=format\&n=giUI0IL7C6w7fiSI\&q=85\&s=8ec1dfdb305ce0d1631b3f831b9e6080) ![Part 2 of 2 of the Gatehouse split: the 70% share.](https://mintcdn.com/cashmerelabs/giUI0IL7C6w7fiSI/images/mountain/fee-flow-phone-2-light.svg?fit=max\&auto=format\&n=giUI0IL7C6w7fiSI\&q=85\&s=a61f5fb650ee636cb37675dde8da3726) At each Trek settlement, the Gatehouse splits the ETH it holds. That ETH is the taxes, the ETH part of the liquidity exit tax and every Barn lot price. | Share | Goes to | | - | - | | 15% | The team, paid to the Team Safe by a call anyone can send | | 15% | The Base Camp buyback | | 70% | The Treasury Safe, if the Trek's net flow was above zero (net buying). The Avalanche vault, if it was zero or below (net selling) | Taxes taken before issuance starts reach the Gatehouse with the first forward. The owner Safe can change the shares, but the team's share can be at most 20%. A change takes effect right after the next settlement, so the settlement after that is the first to use it. Net flow is explained on [Treks](https://docs.cashmere.exchange/mountain/treks.md#the-trek). **The Gatehouse** page shows the ETH waiting for the next Trek, the CSM burned so far, the Hayloft's balance, what is owed to the team, and each Trek's split marked "Net buying" or "Net selling". ## The two buyback contracts ![The steps of the two buyback contracts, from ETH to CSM.](https://mintcdn.com/cashmerelabs/giUI0IL7C6w7fiSI/images/mountain/buyback-steps-light.svg?fit=max\&auto=format\&n=giUI0IL7C6w7fiSI\&q=85\&s=39b1dc0a6ec2c802721bd9a855dc15ed) ![The steps of the two buyback contracts, from ETH to CSM.](https://mintcdn.com/cashmerelabs/giUI0IL7C6w7fiSI/images/mountain/buyback-steps-phone-light.svg?fit=max\&auto=format\&n=giUI0IL7C6w7fiSI\&q=85\&s=22c7c8b7032265d22b1c005ec6e3ffc6) | | Base Camp buyback | Avalanche vault | | - | - | - | | Gets | 15% of the Gatehouse each Trek, and a share of the sale ETH | The 70% after net-selling Treks, and a share of the sale ETH | | A step | Buys CSM and sends all of it to the Hayloft. Nothing is burned | Buys CSM with the smaller of 10% of its ETH and 0.20% of Base Camp's depth at the current price, then burns all the CSM it holds | | Size and spacing | At most 10 ETH per buy, with buys at least 15 minutes apart | Steps at least 15 minutes apart | | Price check | Within about 16% of the pool's average, before and after | Within about 10% of the average | | Refuses | During the launch schedule, and while either tax is under 1% | The same | | Who can run it | The operator key or the owner Safe | The same. The owner Safe can open it to everyone, and that cannot be undone. Off at launch | Buybacks are what the contracts do with ETH. Nothing has to run them, and these pages say nothing about any effect on any price. ## The Hayloft The Hayloft holds the CSM that the Base Camp buyback buys. The owner Safe can send any amount of it, or of ETH, to anyone, at once. Its planned use is the [Hay Bale](https://docs.cashmere.exchange/mountain/built-off-today.md#hay-bales) budget. That is a plan, not a promise. This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.