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Glossary

Asset: The token deposited into the vault by the user (aka investor) in order to receive ownership shares of the vault.

Share: Token representing ownership in the vault that is transferred to the user after a successful deposit.

Async Vault: A vault where shares are not atomically distributed to a user during a deposit OR assets are not transferred to a user atomically during a withdrawal. The vault authority must update the NAV of the vault before pending deposits/withdrawals are claimable.

Extension: Additional data structure that is appended to the vault account, which may include separate conditional logic during core instruction execution.

Core Instruction: Instruction available to ALL vaults, though may have conditional logic given the extensions initialized by the Vault.

Extension Instruction: Instruction that is available only due to the existence of an extension on the initialized Vault.

Notes

In the context of Async Vaults, Subscription and Deposit are used interchangbly. Redemption and Withdrawal are also used interchangbly.