# MetaVaults



A MetaVault lets you deposit into a managed Spectra strategy without moving
liquidity from one pool to the next yourself.

The curator manages pool allocations and maturity rollovers. You receive vault
shares that represent your part of the MetaVault.

<Cards>
  <Card title="Deposit and withdraw" description="Deposit in a strategy or withdraw your position." href="/docs/metavaults/getting-started" />

  <Card title="Understand Spectra" description="Learn how Principal Tokens, Yield Tokens and pools work." href="/docs/spectra/core-concepts/principal-and-yield-token" />
</Cards>

## What the curator does [#what-the-curator-does]

The curator can allocate liquidity across approved pools, prepare withdrawals
and roll positions into new maturities. The vault rules limit which actions are
allowed.

Where enabled and permitted, a curator can also trade PT and YT through
[OTC offers](/docs/spectra/guides/otc-rfq) and answer quote requests as the
vault. These trades change the vault's inventory; they do not require you to
manage individual offers as a depositor.

## What you keep control of [#what-you-keep-control-of]

You choose the MetaVault, decide how much to deposit and when to withdraw.
The curator cannot withdraw your shares from your wallet.

## Main risks [#main-risks]

* A withdrawal may wait for the next settlement.
* The vault can be exposed to several pools and assets.
* Performance depends on the strategy and market conditions.
* Smart-contract, curator, asset and network risks apply.

<Callout type="info">
  Compare the strategy, fees, withdrawal timing and risks before choosing a MetaVault.
</Callout>