Set Up and Configure Your Vault
These settings are semi-permanent
Before we begin, it’s important to highlight an important change with the Sulu release. Previously, most setting configurations in a vault were non-changeable once a vault was deployed on-chain. However, one of the newly introduced features in the Sulu release is that you can now flexibly reconfigure the following setting configurations on a vault at any time:
- Vault denomination asset
- Fees (Exit fee, Entrance fee, Performance Fee and Management Fee)
- Permitted recipients of secondary market shares transfers
- Shares lockup period
- Policies that impact the assets held and traded by the vault (Allowed Adapters, Allowed External Position Types, Cumulative Slippage Tolerance, External Position Removal, Asset Position Removal).
- Vault ownership
Changing your setting configurations frequently might compromise your relationship with your stakeholders so ideally there should be a justifiable reason to make changes. Any time you implement a change, they will take 7 days to take effect. This time period is a parameter which is changeable by the Enzyme Council. This gives your stakeholders substantial time to review any changes and opt-out if they do not want to subscribe to the new terms. In the near future, we will be launching a notification system to which stakeholders can subscribe in order to get real-time alerts whenever a change is proposed.
Modifying the following settings was possible before and will remain possible with Sulu:
- Modifying the list of permitted depositors
- Modifying deposit limits
Bear in mind that you will not be able to change the vault name or the vault share symbol, so spend some time on making sure you get these right the first time around.
With these changes in mind, we've prepared a detailed guide of how to get started. As we go through each step we’ll define what each of these setting configurations does and remind you about which are changeable and which are not so don’t worry about having to memorise this all. The following pages are laid out in order and correspond with the product setup process found on the app here.