CleanCore: the exit can matter more than the headline fee.
CleanCore's DOGE treasury arrangements show why a DAT benchmark must capture termination consideration and post-termination operating structure. A 2% management schedule was only one part of the economics; the later exit involved substantial token, cash and equity consideration across separate agreements.
Timeline
Asset-management program launched
CleanCore appointed Dogecoin Ventures to provide discretionary asset management and 21Shares to provide non-discretionary recommendations. The aggregate annual management fee was 2.0% on the first $1 billion of account value, stepping down above that level.
Separate strategic-advisor economics
The company entered into a separate strategic-advisor agreement with Dogecoin Ventures LLC for, among other consideration, a monthly advisory fee of $83,333.
Agreements terminated
Later filings describe the asset-management and related digital-asset agreements as terminated. The termination release for the AMA required transfer of 70 million DOGE to Dogecoin Ventures and 21Shares. A later company filing described that transfer as approximately $6.8 million of professional services.
Cash plus equity consideration
The company disclosed that termination of the separate strategic-advisor agreement involved $5 million in cash plus 3.8 million shares of common stock.
Internal management, then treasury wind-down
CleanCore disclosed that it managed its remaining DOGE internally after terminating the external arrangements. By July 2026 it had sold substantially all of its approximately 463 million DOGE and was pivoting toward AI critical infrastructure.
Benchmark lesson
Recurring fee rate is not enough. A decision-grade DAT record should separately normalize management fees, strategic-advisor economics, termination consideration, equity consideration and the operating model after exit. Otherwise the largest economic transfer in the relationship may be missed entirely.
Observed economics
- 2.0% aggregate annual management fee on account value up to $1 billion.
- $83,333 monthly fee under the separate strategic-advisor agreement.
- 70 million DOGE transferred in connection with AMA termination.
- $5 million cash plus 3.8 million common shares disclosed in connection with termination of the separate strategic-advisor agreement.
- Remaining DOGE managed internally after external agreements ended.
QA note
Public filings use different dates when describing the termination sequence: later periodic disclosure refers to February 27, while the filed termination release is effective March 6 and the related 8-K was filed March 10. A client pack would preserve those distinctions instead of collapsing them into one date.
Primary public sources
Public-source factual research only. No legal, fairness, fiduciary or investment opinion.
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