Meta Vaults

What are Meta Vaults?

Meta Vaults don't run validators directly, instead, they delegate assets to other Vaults (called sub-vaults within the Meta Vault system) that handle the actual validator operations. Sub-vaults can themselves also be Meta Vaults.

How Meta Vaults Work

Meta Vaults receive user deposits and distribute them across sub-vaults according to the curator strategy.

The Curator is a new contract that manages how ETH is allocated to and withdrawn from sub-vaults. To be used, a curator contract must be approved by the DAO and added to the CuratorsRegistry contract.

Currently, there is one curator contract available — the BalancedCurator — which distributes and withdraws assets evenly across all sub-vaults.

Benefits of Meta Vaults

Customizable asset placement: Multiple layers of Vaults can sit on top of each other to enable sophisticated setups that utilize a mix of underlying validators to maximize redundancy, liquidity, and rewards. For example, a separate Meta Vault can be deployed per each institutional customer, tapping into a single underlying sub-Vault that runs all validators, to allow asset segregation among users while maximizing validator fleet efficiency.

Flexible fee structures: Different Meta Vaults can charge different fees for different clients — especially helpful for establishing flexible fee structures for institutional clients.