About - Core Concepts

A vault layer on top of permissionless fixed-term markets.

MetaVaults introduce a curated vault layer on top of permissionless fixed‑term pools, addressing UX challenges that arise when pools expire.

Rather than interacting with separate pool addresses for each maturity, liquidity is consolidated into a single vault that remains live across maturities. A dedicated curator manages re‑allocations, rollovers, and new pool creation. Suppliers receive a single receipt‑style token that tracks pro‑rata ownership and accrued yield.

MetaVaults implement asynchronous ERC‑7540 vaults, using request → settle → claim flows for supply and redemption actions. This design allows curators to batch requests and maintain clean accounting while the vault compounds yield.

Why MetaVaults matter

MetaVaults solve key frictions in fixed‑term yield markets:

• Expiry friction. In traditional fixed‑term pools, each maturity requires a new pool address and re‑bootstrapping liquidity. MetaVaults eliminate these cycles by rolling liquidity into new pools as maturities end, maintaining continuous exposure.

• Clearer earnings. Classic LP tokens can fluctuate with market swings, obscuring yield. MetaVault receipt tokens reflect the vault’s share price directly, making yield tracking straightforward.

• Continuous market depth. Consolidating liquidity prevents fragmentation and helps sustain deep markets across pool cycles.

• Passive supply experience. Suppliers do not interact directly with pools nor Yield Tokens; yield is accrued and periodically redirected into additional LP tokens by the curator, creating a compounding effect.

Benefits Breakdown for All Spectra Ecosystem Actors

MetaVaults deliver tailored advantages to every participant, creating a virtuous cycle of engagement and growth:

• Liquidity Providers (LPs): A single supply action grants continuous exposure. Instead of managing Pool LP and YT positions, suppliers hold one receipt token that records ownership and compounded yield. YT yield can be periodically turned into more LP tokens, contributing to a compounding effect.

• Projects and Asset Issuers: No more repetitive pool-deployment announcements and TVL drops at expiration. MetaVaults provide a permanent vault address for effortless integrations, user onboarding, and communications. Curators can operate vaults on behalf of projects, ensuring consistent liquidity and momentum without periodic market resets.

• Curators: a formal curation layer introduces a new on‑chain business model in the yield tokenization sector. Curators manage liquidity allocation across pools, earn transparent fees, and build reputations through performance.

• Traders: Seamless liquidity transitions across fixed-term pools result in a greater pool depth over time. MetaVaults ensure efficient trading continuity, setting the stage for upcoming features like the order book.

• For the Spectra Protocol: Consolidated liquidity promotes resilient TVL growth and deeper markets. The curator layer enhances business development and integration opportunities.