Terminology
Learn about Lagoon's technical terms
Last updated
Learn about Lagoon's technical terms
Last updated
Vaults are smart contract responsible of tokenizing the ownership of a strategy in exchange of an underlying asset. Vault manage deposits, withdrawals, and accounting for the underlying asset.
ERC-7540 vaults introduces asynchronous deposits and withdrawals, allowing vault entry and exit to be processed in a 2 steps fashion, one for the request and one for the claim. It is also used for share tokenization in ERC20 since it extends the capabilities of the ERC-4626. Lagoon vaults are based on this standard.
An 'Externally Owned Account' (EOA) is controlled by a single private key. While a multisig wallet is built on top of a smart contract and requires several 'EOA' acting as signers for each transaction.
A multisig wallet emphasizes security and programmability. This solution is suitable when multiple parties need to coordinate.
In this field, is the most prominent and battle-tested multisig wallet provider.
The vault is expecting to receive updates of the total value of vault in order to settle requests. The price oracle is responsible for computing this value and propose it. For this value to be enforced in the vault and used to settle requests the curator address has to approve it.
The underlying token refers to the asset in which users will deposit and withdraw.
The valuation oracle will propose the new total asset in this unit of account.
Shares represents a claim on assets deposited within the vault.
They are distributed in exchange of a given underlying token, at a price determined by the valuation oracle, at settlement.
While the price per share reflects a given vault's performance and its evolution over time denominated in the vault underlying token.
Settlement describe the action by which a curator validate the previous valuation oracle proposal. A settlement will honor all deposits requests. Withdrawal requests will be honored if the curation address has enough assets available.