# Roles and capacities

Lagoon vaults use role-based permissions to separate governance, execution, valuation, and access control. This structure reduces operational risk and makes responsibilities explicit. It is designed to mirror traditional asset management and compliance standards, where duties are split across independent functions and controls. Each role has a defined scope and can be assigned to different entities or custody setups.

Below is a summary of what each role can do:

<table data-card-size="large" data-view="cards"><thead><tr><th></th><th></th><th data-hidden data-card-cover data-type="image">Cover image</th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><mark style="color:$primary;"><strong>Vault Admin</strong></mark></td><td>Governs configuration and safety controls. It does not run the strategy, but it can change critical parameters.</td><td><a href="/files/jVl6HDmQxr0PI2PlT5jw">/files/jVl6HDmQxr0PI2PlT5jw</a></td><td><a href="/pages/y1XzKR5fRjqQD54Q1m49">/pages/y1XzKR5fRjqQD54Q1m49</a></td></tr><tr><td><mark style="color:$primary;"><strong>Vault Curator</strong></mark></td><td>Manages strategy allocation and executes settlements. It validates the valuation proposal and decides when to process deposit and withdrawal batches.</td><td><a href="/files/IrhHpmHdL2tYzIYOpmBO">/files/IrhHpmHdL2tYzIYOpmBO</a></td><td><a href="/pages/fRIux6udoHJEYGjEqyhr">/pages/fRIux6udoHJEYGjEqyhr</a></td></tr><tr><td><mark style="color:$primary;"><strong>Valuation Provider</strong></mark></td><td>Proposes the valuation inputs used to set the settlement price per share. Accuracy matters because it drives how many shares are minted, how much users redeem, and how fees are applied.</td><td><a href="/files/JUMYvAi5CeH8h39qpMHc">/files/JUMYvAi5CeH8h39qpMHc</a></td><td><a href="/pages/XO4N0kooDSNdHCf4DBHY">/pages/XO4N0kooDSNdHCf4DBHY</a></td></tr><tr><td><mark style="color:$primary;"><strong>Access Manager </strong></mark><sup><mark style="color:$primary;"><strong>(former Whitelist Manager)</strong></mark></sup></td><td>Controls which addresses can interact with the vault, using whitelist mode, blacklist mode, or external sanctions list integration.</td><td><a href="/files/ssc48kOiMlQqGC68wa6M">/files/ssc48kOiMlQqGC68wa6M</a></td><td><a href="/pages/knObGRbccamwdTli0Zl2">/pages/knObGRbccamwdTli0Zl2</a></td></tr><tr><td><mark style="color:$primary;"><strong>Security Council</strong></mark></td><td>Manages price-per-share guardrails to protect depositors against abnormal valuation movements. An independent governance oversight role.</td><td><a href="/files/vBLbvUCMdtZ9zHzoAMID">/files/vBLbvUCMdtZ9zHzoAMID</a></td><td><a href="/pages/fIpdjuoTLkVQ2ASatZGO">/pages/fIpdjuoTLkVQ2ASatZGO</a></td></tr></tbody></table>


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