> 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/users/end-users.md). # End users There are two categories of end users of the Enzyme Protocol: fund managers and investors. ## Fund managers There are three primary fund management roles in this release, all of which are stored on the `VaultProxy` and thus will persist to subsequent releases (if those releases decide to use them): * Owner * Migrator * Asset Manager ### Owner Each fund has one owner, who can perform any administrative action on the fund. Ownership can be changed via a pair of nominate-claim transactions. Owners are considered fully-trusted. ### **Migrator** Each fund can have a single migrator, who can call any migration or reconfiguration action on the `FundDeployer`. Only the owner can set or unset a migrator. ### **Asset Manager** Each fund can have many asset managers, who can call any action on the `IntegrationManager` or `ExternalPositionManager` , and also buyback protocol fee shares. Allowed calls to the `IntegrationManager` and `ExternalPositionManager` can be further narrowed per-asset manager via policies. Only the owner can add or remove asset managers. ## Investors A fund can theoretically have unlimited investors, who get exposure to a fund's performance by buying, redeeming, or receiving a transfer of fund shares. ## Relationship between owners, asset managers, and investors Different funds have different needs and trust assumptions. The core contracts are left as unrestrictive as possible by default, with configuration options, policies, and peripheral tooling available to help craft bespoke levels of trust. Fund owners are considered fully-trusted by all contracts created and configured by the Enzyme team. Any trust limitations must be done externally via peripheral contracts (e.g., timelocked owner contracts). Fund owners delegate portfolio management actions to asset managers, whose available actions and action results can be restricted by fund owners. Ultimately, it is the responsibility of the fund owner to adequately restrict asset manager permissions to achieve their desired trust threshold. Similarly, roles in peripheral contracts (e.g., executors of deposit and redemption queues) are assigned by the fund owner, who must assess whether the role is safe to assign to a given account. It is assumed that investors will continuously assess their own trust of the fund owner and setup, as-needed. --- # 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/users/end-users.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.