What are Byzantine vaults?
Last updated
Last updated
Byzantine Vaults (ByzVaults) are the foundation of the Byzantine protocol, providing standardized access to a diverse ecosystem of restaking opportunities through a secure, non-custodial architecture.
A Byzantine Vault is a self-contained, non-custodial smart contract that serves as the standardised access point to the Byzantine restaking ecosystem. Each vault:
Connects various restaking opportunities together
Implements a specific restaking strategy
Operates as a fully fund-segregated and risk-isolated entity
Follows the ERC4626 standard (with the exception of asynchronous withdrawals)
Byzantine Vaults give access to a wide variety of restaking opportunities through:
Restaking Protocols: Integration with protocols like EigenLayer, Symbiotic, Jitto...
Staking Operators: Connections to a large set of staking operators
AVS/Networks: Access to various Actively Validated Services and networks
Every ByzVault can implement a custom strategy based on:
Risk Profile: Different levels of risk tolerance
Yield Expectations: Target returns based on user requirements
AVS/Network Types: Specific focus on services like:
ZK services
Oracles
Intents
Data availability
Interoperability layers
ByzVaults are designed with strong security principles:
Fund Segregation: Each vault's funds are completely separate
Risk Isolation: A slashing event in one vault has no impact on other vaults
Non-Custodial: Assets are never under the control/custody of the curator, vault owner, or operators
Asynchronous Withdrawals: Executed in 2 steps with a maximum 14-day waiting period
When depositing into a vault:
Users receive vault shares representing their ownership in the vault
Vault shares are non-rebasing ERC20 tokens
As rewards accrue, the value of the vault shares increases
Vault shares can always be redeemed for the underlying assets
Transferability: Vault shares can be configured as either transferable or non-transferable depending on vault parameters
Transferable shares: Can be sent to other addresses, traded, or used in DeFi applications
Non-transferable shares: Locked to the original depositor's address for enhanced security or compliance requirements
Native Restaking Vaults
ERC20 Vaults
Cross Protocol Vaults
Standardized Access: Consistent interface to diverse restaking opportunities
Customizable Strategies: Flexible approach to meet specific requirements
Risk Management: Isolated exposure to minimize impact of potential issues
ERC4626 Compatibility: Adherence to industry standard for yield-bearing vaults
Full Ownership: Users always maintain ownership of their assets through vault shares
Flexible Transferability: Vault shares can be configured as transferable or non-transferable based on use case requirements:
Transferable shares enable secondary markets and integration with other DeFi protocols
Non-transferable shares provide additional security and compliance options
