What is the LP fee for Minswap?

Could you please elaborate on the LP fee structure for Minswap? Is it a flat rate or does it vary depending on certain factors? Additionally, how often are the fees charged and how are they distributed among the liquidity providers? Understanding the specifics of the LP fee for Minswap is crucial for potential investors and liquidity providers alike, as it directly impacts their potential returns and risk exposure. Could you provide a detailed explanation of the fee model and any associated benefits or drawbacks?