Vaults

TVL is live vault NAV. Projected is the strategy's simulated return over a year at August–September pool volume, not a guarantee. Fee APR is the trading fees earned over the last day as a yearly rate on the vault's capital, before hedge and rebalance costs.

Each vault owns its own assets, limits, withdrawal accounting, and execution permissions. A strategy never shares its risk boundary.

Deposit and realized-profit fees initially route to the Payload. The vault page will show every recorded contribution.