Glossary
Multyr contracts are deployed on Arbitrum One. The system is currently in validation phase. Deposits are not open to the public. Behavior described on this page reflects the protocol's designed behavior; some mechanisms are active in shadow testing, others become active at public launch. See the Status page for details.
Key terms used throughout the Multyr documentation.
Adapter
A smart contract module that connects a Multyr strategy to a specific external protocol. Each adapter standardizes deposit, withdrawal, and balance operations for a single integration.
Allocation Vault
A vault that allocates capital across multiple Strategy Vaults according to predefined rules and constraints.
Buffer
A portion of capital held in liquid form within the CoreVault or associated modules to support withdrawals and operational flexibility.
BufferManager
The component responsible for maintaining target buffer levels (e.g. hot and warm liquidity) and coordinating buffer rebalancing.
Chainlink
Decentralized oracle network used by Multyr for on-demand price feeds. See Oracle Security for staleness and validation parameters.
CoreVault
The central vault contract of the Multyr system. ERC-4626 compatible. Accepts user deposits, issues shares, and delegates capital allocation to the StrategyRouter.
Epoch
A discrete time window used by the withdrawal queue for settlement. Queued withdrawals settle at the end of an epoch when liquidity conditions allow.
ERC-4626
An Ethereum standard for tokenized vaults, defining a common interface for deposits, withdrawals, and share accounting.
Fixed-Term Vault
A vault with a fixed duration. Instant withdrawals are not available in fixed-term vaults; all withdrawals are processed through the queue and settled at term end or epoch boundary.
Guardian
A privileged role responsible for emergency actions such as pausing the system or degrading strategies under abnormal conditions.
High-Water Mark (HWM)
A reference level used for performance fee calculation. Performance fees are applied only to returns that exceed the highest NAV previously reached.
Hot Liquidity
The portion of vault assets held immediately available for withdrawals within the CoreVault. Distinct from warm liquidity.
Instant Exit
A withdrawal mode where the system attempts to execute the request in the same transaction, subject to available buffer liquidity and per-epoch caps. Falls back automatically to the queue if liquidity is insufficient.
Li.Fi
External liquidity aggregation provider used for non-USDC deposit swaps and related routing operations.
Multisig
A multi-signature wallet controlling governance-level operations. Requires multiple independent signers to approve critical actions.
NAV (Net Asset Value)
The total value of assets held by a vault, computed from on-chain data. NAV per share determines the redemption value of each vault share.
Open-Ended Vault
A standard vault without fixed duration. Both instant and queued withdrawals are available; the system falls back to the queue automatically when instant liquidity is insufficient.
Permit2
A token approval mechanism enabling signature-based approvals without requiring a separate on-chain approval transaction.
Rebalancing
The process of redistributing capital across allocation targets according to predefined rules, constraints, and system conditions.
ROOT_TIMELOCK
The root timelock contract enforcing a mandatory 48-hour delay on all governance actions. All parameter changes pass through this contract before execution.
Safety Reserve
A vault or mechanism funded by protocol revenues that may act as a limited loss-absorption buffer under certain conditions. It is not an insurance mechanism and does not guarantee capital protection.
Shadow Testing
A deployment phase where the system runs on mainnet with real integrations and logic, but with limited or controlled user exposure.
Standard Withdrawal (Queued)
A withdrawal mode where the request is placed directly into the queue, shares are reserved, and the request is settled at the end of the epoch when liquidity becomes available.
Strategy
A rule-based allocation framework that deploys capital to a defined set of opportunities. A strategy may allocate across multiple adapters or protocol integrations.
StrategyRouter
The contract responsible for executing capital allocation and rebalancing across strategies or adapters according to predefined parameters.
Strategy Vault
A vault that provides exposure to a single strategy. Capital deposited into a Strategy Vault is allocated according to that strategy's internal logic.
Timelock
A delay mechanism applied to governance actions, ensuring changes are visible before execution and allowing users time to react.
Vault Share
An ERC-20 token representing a user's proportional ownership of a vault's assets.
Warm Liquidity
An intermediate liquidity layer held in adapters but considered near-liquid, used to replenish hot buffer or satisfy larger withdrawals. Distinct from strategy capital deployed across external protocols.
Withdrawal Queue
A mechanism that processes withdrawal requests over time when immediate liquidity is insufficient.