Fees and Expenses

If there are expenses associated with operating Flamingo, who is responsible for them?

Flamingo and its Members are responsible for the costs and expenses related to Flamingo's activities, operations, and maintenance, as detailed in the operating agreement. This includes any fees charged by the service provider.

Are there any fees are associated with Flamingo?

As noted in these FAQs, Flamingo's organizational documents expressly contemplate the use of a service provider to help facilitate, on behalf of the Members, activity by Flamingo. As compensation for these services, the service provider will initially charge the following fees.

Year	Service Provider Annual Fee
1	2%
2	1.6807%
3	1.375%
4	1.0610%
5+	0.7491%

All fees are payable on a quarterly basis to the service provider and will begin to accrue once Flamingo launches. Members have the right to terminate the services of the service provider at any time.

In addition to the fee schedule outlined above, the service provider will be entitled to a fee of 2% of the gross proceeds of any sale it facilitates of an NFT previously acquired by Flamingo, as well as, if the service provider fractionalizes ownership interest in an NFT acquired by Flamingo, 2% of those ownership interests in the NFT.