Glossary · DeFi
Vault
Also: vaults, tokenized vault
A vault is a smart contract that pools depositor funds, deploys them into a strategy, and issues shares whose redemption value rises as the strategy earns, so depositors hold a proportional claim rather than a fixed balance.
Related terms
- ERC-4626
- ERC-4626 is the Ethereum token standard that defines a common interface for yield-bearing vaults, so that any wallet, aggregator or protocol can deposit into and redeem from a compliant vault without custom integration code.
- Curator
- A curator is the party that configures a lending vault, choosing which markets it may lend into, setting exposure caps and oracles, and appointing the allocator that moves capital within those limits.
- Share price
- Share price in a vault is total assets divided by total shares outstanding, the figure that rises as yield accrues and that determines how many underlying tokens each share redeems for.
Guides that explain Vault
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