Vault post-deployment operations

Set up your Vault's parameters to start operating.

After deploying a Vault using the Lagoon Vault Factory, a few essential steps must be performed to enable proper funds flows and user interactions.

Underlying asset approval

To enable user withdrawals, the custodial wallet (safe parameter) must infinite approve the underlying with the vault address as spender.

Call the following function on the underlying asset contract:

approve(address spender, uint256 value)

• spender (address): The deployed Vault contract address. This is the address that will be allowed to move the tokens from the custodial wallet.

• value (uint256): The approval amount. To avoid repeated approvals, it is recommended to approve an infinite allowance. Use the following constant value:

  115792089237316195423570985008687907853269984665640564039457584007913129639935

Without this approval, the Vault will not be able to process user withdrawals.

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Verify your vault code on Etherscan

Identify your vault as a proxy

Before interacting with your Vault, you must confirm that it is a proxy contract.

Note: The following screenshot was taken from the Lagoon Vault Factory deployed on Arbitrum.

Steps to Verify the Proxy

1. Access Your Vault Contract

   • Open your Vault’s contract page on the relevant block explorer (e.g., Etherscan, Arbiscan, etc..).

2. Navigate to the Contract Tab

   • Click on the Contract tab.

3. Click “Is this a proxy?”

   • Scroll to the top right of section, click on the “Is this a proxy?” button and then on the "Verify" button.

   

   

   
4. Confirm Proxy Verification

   • If verified, the explorer will display the interaction with the proxy logic.

Once your Vault is confirmed as a proxy, you will be able to access the Read and Write functions of the deployed Vault contract. This is required for executing operations such as updating NAV or settle.

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Initialize your vault

To finalizes the Vault setup, you must initialize it by performing the first NAV update and initial settlement.

You can initialize your Vault in two ways:

• Using Etherscan by directly calling the contract functions

• Through the Lagoon Vault UI (via deep link – coming soon)

Initialization via Block Explorer

1. Access Your Vault Contract

• Find your Vault on the block explorer of the deployed chain.

• Ensure you are interacting with the Vault address from the createVaultProxy deployment transaction

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2. Propose the Initial NAV

Call the following function on your Vault contract with the The Price Oracle role wallet:

updateNewTotalAssets(uint256 _newTotalAssets)

• _newTotalAssets (uint256): Set this value to 0 to initialize the Vault with a 1:1 ratio (1 underlying = 1 share).

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3. Perform First Settlement

Call the following function after the NAV update with the Vault Admin role wallet:

settleDeposit(uint256 _newTotalAssets)

• _newTotalAssets (uint256): Again, set this to 0 to confirm and validate the initial state with a 1:1 ratio.

Your Vault is now initialized and fully operational.

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