> For the complete documentation index, see [llms.txt](https://docs.mantissa.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.mantissa.finance/mantis-scroll/fees/swap-fees.md).

# Swap Fees

To maintain the Net Liquidity Ratio > 1 and to incentivize LPs, we have defined the swap fees based on the value of NLR. The swap fees is defined as follows:

$$
Base fees = 0.01%
$$

$$
Swap\ Fees =
\begin{cases}
Base fees & \text{$NLR >= 1$}\\
2 \* Basefees & \text{$0.96 <= NLR < 1$}\\
4 \* Basefees & \text{$NLR < 0.96$}
\end{cases}
$$

Under critical condition (NLR < 1), all the non-LP fees stays in the system.