> For the complete documentation index, see [llms.txt](https://fearless-bulls-club.gitbook.io/fearless-bulls-whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://fearless-bulls-club.gitbook.io/fearless-bulls-whitepaper/bullish-growth-fund/team-compensation-and-other-operating-expenses.md).

# Team Compensation & Other Operating Expenses

**Royalties** \
80% of the royalties from trading activities on secondary markets like Magic Eden for both the OG Collection and the PFP collection will go to a standalone wallet for compounding into the fund and covering team costs. Royalty Wallet can be found [here](https://solscan.io/account/DM48rBfrKpecBD3vwms9pNzoLs2NzVqG13Du4AU2Mvoc).\
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**Management Fees - (1% per annum)**\
0.25% of the NAV of the fund will be taken out before profit distribution every quarter and used to help supplement royalties in compensating the Core Team, the Investment Committee, as well as be used for fixed expenses like critical software, tools marketing expenses, hosting fees, upkeep fees, and fixed costs like Discord etc.