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Deployment and management of EulerEarn vaults

Curator → Earn in the Toolbox deploys EulerEarn vaults and manages their strategies, allocations, governance and fees. It needs only a wallet, no sign-in.

For scripted deployments or advanced operations, see the allocator and manager handbook.

Open a vault

Choose the network, then the vault: signed in as a curator, search your labelled Earn vaults; without a session, paste the vault's address. Open vault opens it, and Create vault starts a new one. Recent lists the Earn vaults you've opened; it's saved in this browser only.

The network is part of each Earn page's address: choosing another network changes the address, so a shared link or a reload opens on the same network.

Deploy a vault

  1. Choose Create vault.
  2. Under Core settings, choose the network and enter the Underlying asset address, the Vault name and the Vault symbol. The connected wallet owns the vault, and the initial timelock is 0 days.
  3. Choose Build deployment plan, then Review deployment.
  4. Sign in your wallet. Once the receipt arrives, the Toolbox opens the new vault.

The initial timelock is always 0. With no delay, every owner and curator change applies at once, so you can configure the vault first; then set a timelock of 1 to 14 days under Governance → Change timelock. Once set, it can't go back to zero.

The vault page

A vault has seven sections: Overview, Strategies, Allocations, Governance, Fees, Assessments and Changes. The header reads like a market's: the network and the block the page was read at (Exact at block N), the vault's published label as its title (its on-chain name until it has one), and the address it was opened from. A published description shows under the header, and a deprecated label or a notice shows as a warning. The header also shows the roles your wallet holds on the vault, and Refresh reads the vault again.

Under the header, a guide says where the vault stands and what to do next, as on a market page. It reads Vault created until the vault has a strategy (Add strategies) and Strategies set until the supply caps and queues are in place (Set supply caps, Set the queues). It reads Vault configured while the app doesn't show the vault (See the assessment), then Vault ready, with a line on what the open section is for. Once changes are staged it reads Vault ready to review (Review 2 changes).

Stage, review, sign

Each change you plan goes to Pending changes, the same tray as in Markets. It is docked at the bottom of every section and shown in full under Changes, whose tab counts them, grouped by section with each change's value before and after. Changes are saved in this browser, one per setting, and each connected wallet keeps its own: planning the same setting again replaces the earlier change; for caps, strategy requests and allocator lists, further strategies or allocators are merged into the staged change. You can edit or remove a change, or Clear all, which asks you to confirm.

The tray notes the block the changes were checked against. If the vault has moved on since, Re-check now reads it again and builds the staged changes against that reading. When you open the vault again, the saved changes come back re-checked against the vault as it is then; a change the vault no longer accepts is retired with a note.

Review (it counts them: Review 2 changes) puts every staged change into one transaction and opens the same review as in Markets. What the transaction does shows the decoded calls: contract, function and values. What you see is what gets signed. Copy transaction data and Decode this transaction in Batch Viz let you check it elsewhere.

Before your wallet opens, the Toolbox reads the vault again and simulates the reviewed transaction against it. If the vault has changed since you reviewed, or the transaction would now revert, it stops there and asks you to stage the change again; nothing has been signed. Sign and send opens your wallet; from a Safe, the button reads Send from the Safe, and the Toolbox follows the Safe transaction: the changes you handed over stay in Pending changes, kept out of the next review, until the Safe executes it. Another change to a setting the Safe holds is refused until the Safe executes or drops it. See Governance.

After the receipt, the vault is read again and the changes you reviewed leave Pending changes. Changes staged in the meantime stay.

Creating an escrow vault is a transaction of its own, reviewed apart from the other changes with Review escrow.

Strategies and caps

Strategies lists each strategy with what is allocated to it, its Supply cap, what is Withdrawable, the Deposit capacity the strategy reports (the supply cap applies on top) its place in the Supply queue, and whether the app shows it (In the app), all read at one block. In the app is Euler's own verdict, the one the app goes by: Visible, Not visible with the rule that decided it, or Unknown when the verdict couldn't be read, with what the Toolbox's own checks found as a note. Each strategy is named by its published label, an escrow vault as Escrowed collateral, and by its contract name only when it has no label.

Add strategy: paste the strategy's address and choose Validate strategy. The Toolbox checks that the Earn factory allows the strategy and that it uses the vault's underlying asset, shows Euler's configuration check for it (a live check when Euler has none stored), and says whether the app shows it, by the same verdict: a Visible badge, or Not visible with a warning naming the rule that keeps it out, such as a failed configuration check, a deprecated label, a label no curator has claimed, or an EVK or Securitize strategy whose label has no product. When the verdict can't be read, it says Unknown. An escrow vault needs no label, claim or product to show. You can still add it by ticking Stage it anyway. Then set its initial supply cap in the vault's asset, or Unlimited.

A strategy is enabled by its first accepted positive cap, which also appends it to the withdrawal queue. Review the strategy and its deployed configuration before you add it.

Edit supply caps: increases wait for the timelock; decreases, including a change to zero, apply immediately.

Remove a strategy

For a strategy that still works:

  1. Revoke any pending cap increase.
  2. Set its cap to zero under Edit supply caps.
  3. Move its assets to other strategies with Reallocate assets.
  4. Leave it out of the supply queue.
  5. Once it holds nothing, leave it out of the withdrawal queue.

For a strategy that keeps reverting and can't be emptied, Request removal sets its cap to zero and starts a timelocked removal. When the timelock ends, Accept ready removals under Pending removals (or Awaiting acceptance, when other changes wait too) takes it out of the withdrawal queue. Assets still in the strategy are lost to the vault. Read forced removal in the handbook first.

Liquidity buffer

Create escrow vault deploys an escrow vault for the vault's underlying asset, and Add buffer strategy adds it as a strategy. The buffer holds idle assets; place it last in the supply queue when you use it that way.

Allocations and queues

Reallocate assets moves assets between enabled strategies within their caps. Targets are final balances, not amounts to move. Withdrawals run before deposits, and the strategy under Receives remaining assets takes whatever is left.

Queue order holds two queues; Edit queue changes which strategies each includes and in what order.

  • The supply queue decides where new deposits go. Deposits try the strategies in order until the full amount is placed, and every entry needs a nonzero cap.
  • The withdrawal queue decides which strategies fund withdrawals first. A strategy is added automatically when it's enabled. Putting more liquid strategies earlier suits most mandates; a strategy with little liquidity, or one that reverts, reduces what can be withdrawn at once.

Owner, Curator and Allocators can reallocate and change both queues.

Public Allocator holds the Allocator admin, who sets the flow caps and withdraws the fees the allocator collects; the owner or the current allocator admin can change it (Edit). Allocation flow caps are the maximum public inflow and outflow per strategy, or Unlimited (Edit flow caps). A strategy whose caps couldn't be read shows Unknown and can't be edited until the vault is read again; only the rows you change are sent.

Roles

  • Owner: controls the vault and can perform Curator, Allocator and Guardian actions.
  • Curator: manages strategies and caps and can perform Allocator actions.
  • Allocator: manages the queues and reallocates assets. A vault can have several.
  • Guardian: can revoke specific pending actions: pending cap increases, guardian changes, timelock decreases and forced removals. It isn't a veto over every change.

Under Governance:

  • Transfer ownership proposes a new owner, who must accept. While a transfer is pending, the same dialog offers Cancel pending transfer.
  • Curator and Guardian are assigned or changed from their rows; Manage allocators adds or removes allocators.
  • Edit name and symbol changes the vault's name and symbol.

Fees

The owner sets the performance fee, a percentage of the yield the vault earns, and its recipient under Fees → Edit performance fee. The maximum fee is 50%. A nonzero fee needs a recipient; the Toolbox sets both in one transaction, in the order the vault requires. Fee-setting calls accrue fees under the previous configuration before the change applies.

Allocation fees shows what the Public Allocator collected on allocation calls; Withdraw sends it to a recipient you choose.

Timelock

Change timelock sets 1 to 14 days. A longer timelock applies immediately; a shorter one waits for the current delay. The timelock covers selected changes, not every action, so check which operations stay immediate.

Awaiting acceptance

Changes waiting on a delay are listed under each section, headed Awaiting acceptance, or Pending removals when only removals wait: supply caps, strategy removals, a guardian change and a timelock change. Each shows what changes and from when it can be accepted, or removed. Once the delay has passed, anyone can accept a ready cap, guardian or timelock change. Accept ready removals completes the strategy removals. Revoking a change takes a management role and asks you to confirm first (Confirm revoke).

On Governance, Pending governance changes also lists an ownership transfer, which the proposed owner accepts with Accept ownership.

Readiness is judged at the block the vault was last read. Once a delay has passed, choose Read the vault again.

Assessments

Assessments lists the vault first, then each strategy, with its published label (Not labelled yet when it has none, Could not be read when the label read failed, since it may exist, and Claimed in a draft, not published. when your curator has a draft claim for it), Euler's assessment and its causes, and whether the app shows it. Each check that didn't pass names Euler's suggested remedy. Ask again re-reads an assessment that couldn't be read, and after a signed change the assessments are read again for two minutes. A label is not a safety verdict: Euler's assessment runs on its own.

Labels

Earn vaults have their own labels and never join a product. On the vault's Overview, Claim in Labels starts the claim and Open vault labels opens its label page. See Labels and metadata.

Before launch

Verify the deployed network, factory, vault, asset, roles, strategies, caps, queues, fee, timelock, pending actions, labels and current withdrawal capacity. Link users to the EulerEarn guide and publish the vault's allocation and liquidity policy.