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Deployment & Management of Euler Earn Vaults

Euler Earn vaults provide a permissionless, role-based, and immutable way to curate yield strategies on top of ERC-4626 vaults. The recommended way to deploy and manage Earn vaults is via the Euler Earn Creator UI, which guides you through every step of the process.

Deployment Workflow

  1. Dashboard & Quick Start

    • The landing page displays a list of all deployed Earn vaults and a form to deploy a new one.

  2. Vault Creation

    • Enter the asset address, vault name, symbol, initial cash allocation points, and smearing period (in seconds).
    • The UI enforces minimum and maximum values for the smearing period.
    • Click "Deploy Euler Earn Vault" to deploy your vault.

  3. Vault Configuration

    • Once deployed, your vault appears in the dashboard. Click the configure icon to manage roles, strategies, and parameters.
    • The UI provides a step-by-step guide for:
      • Setting vault name and symbol
      • Configuring initial parameters (allocation points, smearing period)
      • Reviewing and deploying

  4. Role Management

    • Assign or revoke roles for granular control over vault management. Roles include:
      • Default Admin: Top-level admin, can assign or revoke any role, including itself.
      • Guardian: Can set strategy caps, adjust allocation points, and set a strategy's status to Emergency or Active.
      • Strategy Operator: Can add or remove strategies (ERC-4626 vaults).
      • Euler Earn Manager: Can set performance fee and recipient, manage strategy rewards, set hooks, and skim non-core tokens.
      • Withdrawal Queue Manager: Can reorder the withdrawal queue for optimal withdrawal and harvesting efficiency.
      • Rebalancer: Can trigger rebalancing of assets between strategies.
    • Each role (except DEFAULT_ADMIN_ROLE) has a corresponding admin role (e.g., GUARDIAN_ADMIN) that can assign or revoke that specific role, allowing for secure delegation and separation of duties.

  5. Strategy Management

    • Add, remove, and configure strategies (ERC-4626 vaults) for yield allocation.
    • Set allocation points and caps, and manage strategy status (Active, Emergency, Inactive).
    • Use the withdrawal queue to optimize withdrawal efficiency.

  6. Vault Operations

    • Perform key operations such as Rebalance (allocate assets), Harvest (collect yield), and Gulp (distribute yield over the smearing period).