> For the complete documentation index, see [llms.txt](https://docs.sail.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.sail.money/protocol/fees-and-governance.md).

# Fees & governance

Two short pages:

* [Fee model](/protocol/fees-and-governance/fees.md) — the two fee mechanisms, the immutable caps, and the reference `StandardFeePolicy`.
* [Governance](/protocol/fees-and-governance/governance.md) — the 48-hour timelock, emergency pause, two-step transfer, and the trusted allowlists.

In one sentence: **fees are bounded by immutable constitutional caps and are zero at launch; all parameter changes flow through a 48-hour timelock; an emergency admin can pause the kernel for at most 72 hours.**


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