# Fee Collection and Distribution

Ribbon Finance takes 10% performance fees and 2% management fees. 50% of the protocol revenue gets sent to the treasury. The other 50% of protocol revenue gets converted to ETH and distributed to veRBN holders for reliable-cash flow. This is exactly what Curve does except instead of redirecting profits from option premiums it redirects profits from [LP fees](https://curve.readthedocs.io/dao-fees.html#fee-distribution).

The protocol revenue has been directed to RBN lockers pro-rata **retroactively,** starting from veRBN launch on February 28th, 2022.&#x20;

Protocol fee sharing was launched in **April 2022.**
