> For the complete documentation index, see [llms.txt](https://docs.creditcoop.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.creditcoop.xyz/core-concepts/vaults.md).

# Vaults

Pooled, non-custodial lending vaults built on ERC-4626 and ERC-7540.

Credit Coop Lending Vaults pool depositor capital and deploy it into Secured Lines of Credit and liquid yield strategies. Vaults are non-custodial smart contracts built on the **ERC-4626** tokenized vault standard with **ERC-7540** asynchronous deposits and redemptions, managed by an independent **Vault Curator**.

A vault deployment consists of four contracts working together:

* **LendingVault** — the ERC-4626/7540 vault that holds depositor assets, issues shares, and processes deposit/redemption requests
* **Credit Strategy** — deploys vault capital into Lines of Credit; holds the vault's Credit Position Tokens; the home of the Curator (Manager) and Operator roles and of vault fee accounting
* **Liquid Strategy** — puts idle capital to work in approved external ERC-4626 vaults for liquid yield
* **Fee & Admin logic** — management and performance fees, protocol split, whitelist, and role management

### How value flows

Depositors request a deposit → the Curator processes requests and mints shares → the Curator allocates capital between the Credit Strategy (credit positions in Lines of Credit) and the Liquid Strategy (liquid yield) → interest accrues to the vault, reflected in the share price → depositors request redemption → the Curator processes redemptions from available liquidity → depositors claim their assets.

The vault's **total assets** are, at all times: liquid assets held by the vault and its strategies, plus the deposits and interest owed on every active credit position the vault holds — priced continuously, onchain.

### Pages in this section

* [Depositing & Redeeming](/core-concepts/vaults/depositing-and-redeeming.md) — the ERC-7540 request lifecycle
* [Credit Strategy & the Curator](/core-concepts/vaults/credit-strategy.md) — how capital reaches Lines of Credit
* [Liquid Strategy](/core-concepts/vaults/liquid-strategy.md) — idle-capital yield
* [Vault Fees](/core-concepts/vaults/vault-fees.md) — management, performance, and protocol split
* [Vault Roles & Safeguards](/core-concepts/vaults/vault-roles-and-safeguards.md) — Manager, Operators, whitelist, pause, recovery


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