> ## Documentation Index
> Fetch the complete documentation index at: https://mintlify.com/Privacy-Cash/privacy-cash/llms.txt
> Use this file to discover all available pages before exploring further.

# GlobalConfig

> Global configuration account for managing fee rates and protocol parameters

## Overview

The `GlobalConfig` account stores protocol-wide settings including deposit and withdrawal fee rates. This account is used by both SOL and SPL token transactions.

## Account Structure

<ResponseField name="authority" type="Pubkey" required>
  The public key of the authority that can update the global configuration
</ResponseField>

<ResponseField name="deposit_fee_rate" type="u16" required>
  Deposit fee rate in basis points (0-10000, where 10000 = 100%). Default is 0 (free deposits)
</ResponseField>

<ResponseField name="withdrawal_fee_rate" type="u16" required>
  Withdrawal fee rate in basis points (0-10000, where 10000 = 100%). Default is 25 (0.25%)
</ResponseField>

<ResponseField name="fee_error_margin" type="u16" required>
  Acceptable fee error margin in basis points (0-10000, where 10000 = 100%). Default is 500 (5%). Allows fees to be slightly lower than expected to account for rounding
</ResponseField>

<ResponseField name="bump" type="u8" required>
  The PDA bump seed used for account derivation
</ResponseField>

## PDA Seeds

```
[b"global_config"]
```

## Default Values

* **deposit\_fee\_rate**: 0 (free deposits)
* **withdrawal\_fee\_rate**: 25 basis points (0.25%)
* **fee\_error\_margin**: 500 basis points (5%)

## Fee Calculation

Fees are calculated in basis points:

* 1 basis point = 0.01%
* 100 basis points = 1%
* 10000 basis points = 100%

For example, a withdrawal fee rate of 25 basis points means users pay 0.25% of the withdrawal amount as a fee.

## Notes

* This is a singleton account shared across all token types
* Only the authority can update fee rates using the `update_global_config` instruction
* The `fee_error_margin` prevents transaction failures due to minor rounding differences in fee calculations
* For SPL token transfers, this account also serves as the signing authority for the tree's associated token accounts