Frequently Asked Questions
New updates and improvements
General
Are Vault shares transferable?
Enzyme Vault Shares are issued as ERC-20 tokens, with transferability and parameters configurable by the Vault owner.
Vault Owners can configure the Vault Shares to enable or disable transferability. Learn more about Vault Shares and Subscription HERE
Are Enzyme.Onyx Vaults ERC-4626?
ERC-4626 is a standard for tokenized vaults that defines how deposits, withdrawals, and share accounting should work. It’s designed to make vaults interoperable across protocols.
Why not ERC-4626? We opted for our own protocol because Enzyme Vaults require greater flexibility than ERC-4626 allows. Our architecture supports complex features—like custom fee logic, multi-asset strategies, advanced permissions, and integrations—that go beyond the scope of the standard. ERC-4626 is a useful baseline for simple yield vaults, but it can’t capture the breadth of tokenized strategies Enzyme enables.
Is it possible to integrate a KYT process into the deposit flow?
Enzyme does not enforce KYC (Know Your Customer) or KYB (Know Your Business) at the protocol level. However, Vault Owners and Managers can request to deploy an extra layer, using the service provider of their choice.
Do you provide SDK and API?
Not yet — but both are actively under development. They’ll soon provide developers with powerful tools to build on top of Enzyme and integrate Vault functionality seamlessly into their own applications.
Accounting
How is NAV calculated?
Vaults deployed with Onyx operate under a non-continuous accounting model. Vault owners or managers are required to consolidate the valuation of the underlying portfolio and to report it directly as the NAV (Net Asset Value) into the Onyx Management App, which will take care of updating the Share price and portfolio composition.
With Enzyme.Onyx, the valuation method is left open—Vault Owners and Managers can handle it internally, work with their preferred provider, or ask Enzyme for partner recommendations.
Can I connect the Management App to a broker or a platform to streamline NAV computation?
Portfolio valuation must consolidate all underlying assets and positions that make up the Vault’s strategy.
If relying on a single broker or platform, no direct connection to the Accounting tool of the Management App is available at this time. Vault Owners can consolidate the value of their holdings and positions and simply report them manually into the Management App.
Subscription
Are investors able to cancel deposit and redemption requests? If yes, what are the conditions?
Investors can cancel deposit and redemption requests. The Vault Owner may define a time window after which a depositor is allowed to cancel a request, provided it has not yet been executed.
Management
Can I delegate Vault management to a third-party provider, and how is control maintained?
A Vault Owner can delegate responsibilities at two levels: Vault and Wallet.
Vault level – The Vault Owner can assign roles to Admins and delegate macro-responsibilities such as accounting and subscription management. (See Management App / Roles.)
Wallet level – The Vault Owner can leverage the Management Wallet capabilities to delegate strategy execution to a third party. For instance, a Safe-based Management Wallet can harness Zodia's role-based access solutions to delegate and control micro-strategy management.
Can I include traditional securities and commodities in my Vault strategy?
Yes. Enzyme.Onyx allows you to tokenize any on-chain or off-chain asset, provided you can reliably assess its value.
Can I move the assets deposited in my Vault to another blockchain?
Absolutely. Vault Owners and Admins can withdraw funds from the Vault smart contract into their Management Wallet. Withdrawals occur on the Vault’s native network — bridging is not yet integrated. Once received, managers may bridge the funds externally to the desired chain.(Cf Deposit Flow)
Can I connect my Vault directly to a broker or a platform?
Enzyme.Onyx doesn't technically connects to external platforms or brokers. However, they allow seamless transfer of funds towards wallets. What does it mean?
If the broker or platform provides its own wallet or custody infrastructure, funds can be sent directly there through the deposit flow.
If no such wallet is available, an easy workaround is to withdraw funds to any Management Wallet and then transfer them to the broker or platform, using off-ramp if needed.
CONFIRM THIS
Fees
How do fees payout work?
Management fee and performance fee are always settled during the share value update flow.
Entrance and exit fees can be settled during deposit and redeem flows (the deposit/redeem handler decides whether to invoke the fee).
Settled fees are not immediately distributed, but are tracked as debts, which are asynchronously distributed at a later time.
Fees are distributed in the fee asset. When necessary, owed fees are converted from the value asset to an amount of the fee asset at the time of distribution.
Distribution can be triggered at any time by the Vault Owner or Vault Admins.
Last updated
Was this helpful?