Deposit to ERC20 Vaults

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Last updated 24 days ago

Deposit to ERC20 Vaults

This section explains how to deposit ERC20 tokens into any Byzantine ERC20-compatible vault, including SymByzVaults and EigenByzVaults.

Step-by-Step Process

1. Approve Token Transfer

Before depositing, the user must approve the vault to transfer tokens on their behalf:

token.approve(address(vault), amount);

2. Call `deposit()`

Use the following function to deposit ERC20 tokens into the vault:

function deposit(
    uint256 assets,         
    address receiver    
) external returns (uint256 shares);

assets: the amount of ERC20 tokens to deposit.
receiver: the address that will receive the newly minted vault shares.

The function returns the number of shares minted for the receiver, which represent a proportional claim on the vault’s assets.

Choose the method that best suits your setup to deposit in a vault:

const VAULT_ADDRESS = "0x40aba78dbb81dbef26d892b6bef4e5fc23736bf5";

// Deposit 0.2 wstETH
await client.depositToVault(VAULT_ADDRESS, 200000000000000000);
const receipt = await tx.wait();
console.log("Deposit hash:", receipt.hash);

Go to the page of your vault

Example:

Enter the amount you want to deposit

The app will automatically calculate and display the number of shares (Vaultshare) you'll receive.

Approve & Deposit

Click the "Approve & Deposit" button. This will trigger two wallet confirmations:

One for the token approval
One for the actual deposit transaction

Check your new balances.

After the transaction:

Your vault balance will increase
Your wallet balance will decrease accordingly Shares (Vaultshare) are minted and can be withdrawn at any time

3. Important Considerations

If the vault is permissioned (isPrivateVault = true), the caller must be whitelisted.
If a deposit limit is enabled (isDepositLimit = true), the total deposits must remain within the configured limit.
The vault uses the convertToShares() function to determine how many shares are minted.

Choose the method that best suits your setup to read those datas:

const VAULT_ADDRESS = "0x40aba78dbb81dbef26d892b6bef4e5fc23736bf5";

const isPrivate = await client.isVaultPrivate(VAULT_ADDRESS);
const isAddressWhitelisted = await client.isAddressWhitelisted(VAULT_ADDRESS, address);
const isThereALimit = await client.isDepositLimitEnabled(VAULT_ADDRESS);
const whatIsTheLimit = await client.getVaultDepositLimit(VAULT_ADDRESS);