> For the complete documentation index, see [llms.txt](https://docs.enzyme.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.enzyme.finance/enzyme-blue-protocol/peripheral-features/shares-wrappers.md). # Shares Wrappers Sometimes, fund participation (depositing, redeeming, and transferring shares) requires rules that are different from the core logic. In such a case, a contract can be deployed that wraps the shares token with the desired logic. A shares wrapper: * is an ERC20 token * is associated with one vault * accepts end user requests to deposit and redeem to its associated vault (wrapper logic dictates whether these requests pass through atomically, or are queued for subsequent transactions) * holds all shares that are received through its deposits * issues wrapped shares to the end user 1:1 for the shares received from their deposits * implements any arbitrary additional logic Generally, a fund using a shares wrapper would use [Policies](/enzyme-blue-protocol/topics/policies.md#alloweddepositrecipientspolicy) to only allow the shares wrapper and no other depositors, thus requiring that all deposit, redemption, and transfer interactions enter through the wrapper. (Note that shares created or transferred by the protocol fee or any fund-level fee would not be subject to the same restriction). ## GatedRedemptionQueueSharesWrapper A shares wrapper that: * is compatible with Enzyme v4 and future versions * defines recurring windows for (user) requesting and (wrapper manager) executing redemptions * holds redemption requests and allows their execution within the redemption window, up to a specified, collective, per-window relative cap (e.g., 25% of wrapped shares supply) * optionally requires per-user pre-approvals for wrapped shares actions (deposit, redeem, transfer) * allows the wrapper manager to force redemptions, i.e., kick depositors from the fund --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.enzyme.finance/enzyme-blue-protocol/peripheral-features/shares-wrappers.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.