docs / protocol / erc4626

ERC-4626 Standard

ERC-4626 is the Tokenized Vault Standard — a unified API for yield-bearing vaults. It extends ERC-20, so vault shares are transferable tokens.

deposit(uint256 assets, address receiver)→ uint256 shares

Transfers assets from msg.sender to the vault and mints shares to receiver.

mint(uint256 shares, address receiver)→ uint256 assets

Mints exactly shares vault tokens to receiver by depositing assets.

withdraw(uint256 assets, address receiver, address owner)→ uint256 shares

Burns shares from owner and sends assets to receiver.

redeem(uint256 shares, address receiver, address owner)→ uint256 assets

Burns exactly shares from owner and sends assets to receiver.

previewDeposit(uint256 assets)→ uint256 shares

Read-only simulation of deposit — shows shares received (no state change).

previewRedeem(uint256 shares)→ uint256 assets

Read-only simulation of redeem — shows assets received (no state change).

convertToAssets(uint256 shares)→ uint256 assets

Converts a share amount to the current underlying asset value (the exchange rate).