> For the complete documentation index, see [llms.txt](https://docs.sherpa.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.sherpa.trade/general/tokenomics/fee-structure/rebates.md).

# Rebates

See the complete breakdown of fee rebates on the VIP Tier Schedule.\
\
Rebates apply to all protocol-related fees.

Note that further fee rebates are available to those who hold liquid `HEDGE` and pay fees with it directly.<br>