# Version History

Lagoon evolves through versioned releases. Each release is audited before deployment and registered in the [ProtocolRegistry](/vault/upgradability-and-opt-in-proxy.md), which governs which implementations vaults can upgrade to. Vault operators opt in to new versions through the delay-based upgrade mechanism.

{% hint style="info" %}
All releases listed here have been reviewed by independent auditors. See the full audit reports on the [Audits](/resources/audits.md) page.
{% endhint %}

***

## <mark style="color:$primary;">v0.6.0</mark> — Upcoming

The largest feature release since launch. v0.6.0 introduces new fee types, a dual access control system, vault guardrails, and several new operational controls.

**New features:**

* **Entry and exit fees** — Configurable fees on deposits and redemptions, capped at 2% each. Rates can only decrease, never increase.
* **Haircut fee** — A fee applied to synchronous redemptions, capped at 20%, redistributed to remaining holders by burning shares.
* **Management fee refactor** — Management fee is now computed on the time-weighted average AUM over the period, instead of the final `totalAssets` value.
* **Dual access control** — The Whitelist Manager role is renamed **Access Manager** and can now operate vaults in whitelist mode or blacklist mode (mutually exclusive), configured at vault creation.
* **External sanctions list** — Optional second access layer that queries an on-chain sanctions oracle (Chainalysis-compatible) on every access check.
* **Async only** — Owner can permanently disable synchronous deposits and redemptions, locking the vault into the ERC-7540 async flow.
* **Security Council role** — New governance role responsible for managing price-per-share guardrails.
* **Price-per-share guardrails** — Upper and lower annual rate bounds that gate `totalAssets` updates, enforced on-chain.
* **High water mark reset** — Safe can reset the performance fee baseline down to the current price per share, when opted in at vault creation.
* **Max cap** — Per-vault cap on total assets, enforced on deposit operations.
* **Sync redeem toggle** — Safe can independently enable or disable synchronous redemptions via `SyncMode`.
* **Cancel request redeem** — Users can cancel a pending redeem request before settlement, returning shares from the pending silo.
* **Redeem on behalf** — Safe can redeem shares on behalf of any user who would be allowed to redeem themselves; the Super Operator can additionally bypass access checks.
* **Super Operator** — Privileged role that bypasses whitelist/blacklist restrictions and can act on behalf of users.
* **Initial total assets** — Vaults can be deployed with a non-zero starting `totalAssets`, with matching shares pre-minted to the Safe, to support clean migration from a previous vault or off-chain book.
* **Update name / symbol / Safe** — Owner can update the ERC-20 name, symbol, and the Safe (custodian) address after deployment.

***

## <mark style="color:$primary;">v0.5.1</mark> — July 2025

**Major architecture update:**

* Introduced the **OptinProxy** and **DelayProxyAdmin** contracts, shifting toward a permissionless model where the protocol proposes vault implementations without enforcing them.
* New **OptinProxyFactory** for deploying proxy infrastructure.
* **ProtocolRegistry** now combines FeeRegistry and LogicRegistry into a single protocol-level contract.

***

## <mark style="color:$primary;">v0.5.0</mark> — May 2025

**New feature:**

* **Synchronous deposits** — Vaults can accept instant deposits when the valuation is marked as valid by the curator, controlled by a configurable `totalAssetsLifespan` parameter.
* Added whitelist check to the `claimSharesAndRequestRedeem` function.

***

## <mark style="color:$primary;">v0.4.0</mark> — April 2025

**New feature:**

* **Claim shares on behalf** — The curator can now claim shares on behalf of depositors and transfer them directly to user addresses.

***

## <mark style="color:$primary;">v0.3.0</mark> — April 2025

**Improvements:**

* Introduced `BeaconProxyFactory` for streamlined vault deployment using the Beacon proxy pattern.
* Added a `version()` view function for retrieving the deployed vault version.
* Restructured the source folder organization to support future proxy upgrades.

***

## <mark style="color:$primary;">v0.2.0</mark> — January 2025

**New features and fixes:**

* **`claimSharesAndRequestRedeem`** — A new function enabling single-transaction share claiming and redemption initiation.
* Corrected fee sequencing for management and performance fees.
* Fixed a performance fee under-calculation bug.
* Added settlement protection safeguards against malicious valuation oracle activity.

***

## <mark style="color:$primary;">v0.1.0</mark> — September 2024

**Initial release:**

* ERC-7540 vault implementation adapted to the Lagoon protocol specifications.
* Asynchronous deposit and redemption flows with NAV-based settlement.
* Role-based permissions: Vault Admin, Curator, Valuation Provider, Whitelist Manager.
* Management and performance fees with high-water mark logic.


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