On-chain Architecture

Anchor program structure, account model, and instruction surface of the multi-strategy vault.

On-chain Architecture

The on-chain program lives in programs/multi_strategy_vault/.

Its job is not to optimize yield by itself. Its job is to enforce vault state and record trusted execution.

Main instruction groups

Vault initialization and administration

• initialize_vault
• register_strategy
• update_strategy_status
• pause_strategy
• pause_vault

User actions

• deposit_usdc
• request_withdrawal
• finalize_withdrawal

Rebalance lifecycle

• submit_rebalance_plan
• execute_rebalance
• record_execution_proof

Main accounts

VaultState

Holds the primary vault state:

• authority
• deposit mint
• share mint
• vault treasury
• risk policy reference
• manager config reference
• totals for deposits, shares, liquid balance, pending withdrawals, and portfolio value

RiskPolicy

Holds static policy limits:

• minimum liquid reserve
• per-protocol cap
• per-strategy cap
• exotic cap
• MarginFi cap
• rebalance cooldown and minimum delta

ManagerConfig

Holds manager and execution settings:

• COBO MPC pubkey
• Ranger executor pubkey
• auto-execute flag
• maximum notional per rebalance
• allowed strategy count and hash

StrategyState

Defines a strategy inside the vault:

• protocol and adapter type
• input/output assets
• fee and risk data
• allocation caps
• liquidity profile
• exotic/canary flags
• valuation source
• emergency exit note

AllocationState

Tracks target and current allocation values for a registered strategy.

WithdrawalRequest

Tracks asynchronous withdrawal state:

• shares burned
• requested amount
• liquid amount already earmarked
• queued amount
• paid amount
• status timestamps

RebalancePlanProof

Stores the approved rebalance and its execution data:

• plan hash
• target weights hash
• tx bundle hash
• execution proof hash
• authorized executor
• reserve / APY / risk metadata

On-chain guarantees

The program guarantees:

• policy limits are enforced during strategy registration and rebalance execution
• withdrawals respect reserve constraints
• rebalance execution matches a submitted plan
• the plan hash and execution proof become part of the on-chain record

What the program does not do

The program does not:

• fetch APYs itself
• query external protocol states for optimization
• compute target allocations
• build complex protocol-specific routes by itself

That work remains off-chain by design.