MetaVaults

A MetaVault is a specialized Vault that doesn't run validators itself. Instead, it accepts deposits and routes them across a set of underlying Vaults — called sub-vaults — which handle validator operations. Just like with a Regular Vault, stakers can mint osETH against their position and redeem it for the underlying stake at any time.

MetaVaults are also available in ERC-20 and Private variants: the ERC-20 variant issues a transferable token as the share representation, while the Private variant adds a whitelist gate on deposits.

Use Cases

Any third party can deploy a MetaVault permissionlessly, which opens up modular, layered staking strategies:

• Diversified staking ↗ — spread stake across multiple operators through a single MetaVault, reducing single-operator exposure, optimizing fees, and giving you one place to deposit, withdraw, and manage your osETH position.
• Dedicated MetaVaults for clients ↗ — create a separate MetaVault for each client while routing all deposits into a shared Regular Vault. This keeps client funds isolated, supports per-client fees, delivers higher and more stable APY, and simplifies operations by managing a single validator fleet.

How MetaVaults Work

Allocation is handled by a Curator — a contract that decides how ETH is distributed to and withdrawn from sub-vaults. Curator contracts must be approved by the DAO and registered in the CuratorsRegistry ↗. Currently, one curator is available: the BalancedCurator ↗, which spreads deposits and withdrawals evenly across sub-vaults.

Before routing, the BalancedCurator checks each sub-vault's remaining capacity and distributes within those limits, saturating or skipping sub-vaults that are full. This means deposits continue to succeed even when one sub-vault in the set has reached its cap, instead of the entire deposit reverting. A MetaVault can route across up to 50 sub-vaults.