Architecture Overview

Lagoon is a full stack vault management infrastructure designed to run investment products with asynchronous subscriptions and redemptions, powered by ERC 7540. They are designed to support NAV-based settlement, role-based permissions, and configurable fee logic. This request-then-settle workflow mirrors subscription and redemption cycles used in traditional asset management. When required, Lagoon can also operate in a synchronous mode.

Lagoon vaults are built in Solidity, deployed on EVM-compatible chains, and have been audited by three independent auditor firms. You can find the audits here.

Key Concepts

Asynchronous Request

Deposits and redemptions are requested first, then settled later at a defined valuation point. Vaults can also be configured as async-only, permanently disabling synchronous operations.

Valuation

NAV inputs are used to price shares at the moment of settlement, not at the moment of request.

Settlement

The curator processes pending requests at a chosen valuation point, ensuring consistent pricing within a cycle.

Roles

Responsibilities are separated between the curator, valuation provider, vault admin, security council, and access manager.

Guardrails

On-chain price-per-share bounds that constrain how much the valuation can change between updates, managed by the Security Council.

Access Control

Vaults support whitelist mode, blacklist mode, and external sanctions list integration for flexible, on-chain participation controls.

How It Works

Users submit deposit or redemption requests. The curator settles the requests at a defined valuation point. Users claim the resulting assets or shares. This batching ensures consistent pricing within a settlement cycle and reduces operational complexity.

1

Request

User submits a deposit or redemption request. The request is queued and does not execute immediately.

2

Valuation

The valuation provider submits a new NAV to the vault. The curator reviews and approves it before it can be applied to any pending requests, ensuring no settlement occurs on an unverified valuation.

3

Settle

The curator processes all pending requests at a defined NAV valuation point, ensuring consistent pricing within the settlement cycle.

4

Claim

User claims their resulting shares (on deposit) or assets (on redemption) after settlement is complete.

Lagoon Vault v0.6.0 - Architecture