Version History

Track every protocol release and what changed.

Lagoon evolves through versioned releases. Each release is audited before deployment and registered in the ProtocolRegistry, which governs which implementations vaults can upgrade to. Vault operators opt in to new versions through the delay-based upgrade mechanism.

All releases listed here have been reviewed by independent auditors. See the full audit reports on the Audits page.

v0.6.0 — June 2026

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.

Breaking changes:

updateRates — The Rates struct gains three fields (entryRate, exitRate, haircutRate), changing the function's ABI. New rates now apply immediately: the rate-update cooldown mechanism from previous versions is removed. Entry and exit rates can only be decreased after initial configuration, and the function reverts on a closed vault.
disableWhitelist removed — Replaced by switchAccessMode, part of the dual access control system.
isWhitelisted removed — Replaced by isAllowed, which covers both whitelist and blacklist modes.
feeRates return type changed — Returns the extended Rates struct with the three new fee fields.
View functions removed — getRolesStorage, MAX_MANAGEMENT_RATE, MAX_PERFORMANCE_RATE, and MAX_PROTOCOL_RATE are no longer exposed on the vault.
Vault initialization — The init struct replaces enableWhitelist with an accessMode enum, drops rateUpdateCooldown, and adds fields for the new v0.6.0 features (entry/exit/haircut rates, Security Council, sanctions list, initial total assets, Super Operator, high water mark reset). Deployment integrations must be updated.

v0.5.1 — 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.

v0.5.0 — 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.

Breaking changes:

View functions removed — highWaterMark, lastFeeTime, isWhitelistActivated, lastDepositRequestId, lastRedeemRequestId, and pendingSilo are no longer exposed on the vault.

v0.4.0 — 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.

v0.3.0 — 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.

Breaking changes:

initialize signature changed — Now takes (bytes data, address feeRegistry, address wrappedNativeToken) instead of the init struct directly. Affects deployment tooling only; deployed vaults are unaffected.

v0.2.0 — 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.

v0.1.0 — 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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Last updated 14 days ago