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About Fume
Fume is an issuance and administration system for onchain fund shares using the ERC-3643 permissioned standard, where transfers require identity and eligibility checks and the issuer maintains the qualified investor list onchain. Each share class carries its own net asset value, high-water mark and fee schedule, subscriptions and redemptions settle at NAV, and lockups are configured per class. Class conversions are struck at the same-day net asset value, closing cross-class arbitrage.
Mechanically it moves the transfer agent onchain: share registration, transfer restrictions and compliance review run in contracts while the manager only updates position pricing. Subscriptions accept stablecoin for instant entry, and agents can read NAV and trigger instructions through MCP and APIs. The system is priced at 179 dollars per month and deploys across Ethereum, Arbitrum, Base and BNB Chain. The investor register and transfer records form a compliance file that can be exported.
Fume's official cost calculator shows a 0.1% protocol fee for its on-chain fund administration, which comes to about $10,000 for a sample fund with $10M AUM and 25 investors, plus a platform fee of $5,988, bringing the first-year total to about $78,688 and saving roughly $116,812 compared with traditional fund administration.
Fume's fund launch program charges no setup fee, drafting fund documents requires only a $1,200 deposit that is fully refundable if the sponsor walks away within six months, and formal registration follows once the commitment target is met.