There are no issuance, listing, management or any ongoing fees charged by Swarm. The only requirement is that after successfully raising funds, you stake an amount of SWM tokens - in the range of 0.3-1.0% of assets under administration raised. These are staked for duration of the security tokens existing. When these are burned, redeemed or otherwise returned, the stake is fully returned to the issuer. By eliminating upfront fees, we are making it easier for you to focus your budgets on legal, marketing, and the other costs necessary to bring a security token to market. We’re also making it easier for service providers to offer value on top of Swarm’s open infrastructure.