SyndicateLearn

Custody and fees

Updated

This guide covers who holds the keys to your money on Syndicate and which fees you pay when you trade. The fees listed here are the ones the app charges today.

Your wallets

Your first sign-in creates two wallets for you through Privy, a wallet provider. One is for Solana and one is for EVM chains. Privy holds the money and Syndicate keeps the records. Syndicate's rule is that it has no way to move your funds on its own. Your device signs your trades.

Your free cash is USDC on Solana. Other chains are reached when you trade and are not used to hold cash.

Hyperliquid

Your Hyperliquid account is your own EVM wallet. Orders are signed by a trading key on your device that your wallet approved. On Hyperliquid, a trading key can place orders but cannot withdraw funds. On the web app the key sits in your browser's storage. If you clear it, you approve a new key.

Exporting keys and withdrawing

You can export the private key of each wallet. It opens in a Privy window that the Syndicate app cannot read. Anyone who holds that key controls the wallet, and support cannot recover a lost key because nobody at Syndicate holds it.

You can withdraw to your connected Solana wallet, to any Solana address you paste, or to any address on Base. Base withdrawals go to Base only. Sending them to another network loses the funds. Syndicate pays the network fee on withdrawals, so you can withdraw even with no SOL.

Money in a syndicate

Each syndicate has its own Solana wallet through Privy. A majority of its active operators controls it. Syndicate's own server secret cannot sign for it alone. A backer can only send capped USDC from it to their own account.

A syndicate's Hyperliquid account is a separate wallet. Its rules block withdrawals and transfers, and each action on it is signed off by one operator.

Fees

  • Perps on Hyperliquid: Hyperliquid's own trading fee, plus a 0.1% Syndicate fee on each order.
  • Swaps and bridges routed through Relay: a 0.1% Syndicate fee on the amount. Moving cash between your own balances carries no Syndicate fee.
  • Solana swaps routed through Jupiter: no Syndicate fee.
  • Prediction markets on Polymarket: a builder fee set through Polymarket's builder program, which the app reads live. Some markets also charge Polymarket's own fee.
  • Solana token accounts: the first time you buy a token on Solana, a small part of your amount pays the rent for the account that holds it. That rent comes back as cash when you close the whole position.

Fees come out of the amount you enter. If you enter $50, $50 is the most the trade can cost you.