Primitives

Vault

• Enzyme Vault : Enzyme Vaults are smart contracts that provide a natively tokenized framework for building next-generation financial instruments and strategies. They form the core building block of Enzyme.Onyx.

• Subscription : A request submitted by an investor to either deposit assets into the Vault or redeem Vault Shares.

• Deposit : The transfer of assets into the Enzyme Vault resulting in issuance of Vault Shares.

• Redemption : The process of returning Vault Shares in exchange for underlying assets from the Enzyme Vault.

• Holdings Valuation – The assessment of all assets and positions backing the Vault strategy that must be reported into the Management App to calculate the Enzyme Vault's Net Asset Value (hereafter "NAV").

Roles

• Vault Owner – The primary controller of the Vault with ultimate authority over its configuration and governance.

• Vault Admin – A delegated role that can manage specific operational tasks such as accounting or subscription processing.

• Manager – The role responsible for executing the investment strategy through the Management Wallet. The Manager can be the Vault Owner, Admin or a third-party.

Wallets

• Owner Wallet: The custody stack used to access the Management App. It serves as the gateway and identity check for Vault ownership.

• Admin Wallet: The custody stack of Admins that the Owner has whitelisted beforehand.

• Management Wallet: The custody stack responsible for collecting funds and executing the strategy.

Assets

• Deposit Asset : The denomination asset accepted by the Vault for deposits.

• Redemption Asset : The asset in which investors receive payouts when redeeming Vault Shares.

• Fee Asset : The asset used to calculate and settle management, performance, or other fees within the Vault.

Tools

• Management App : The application provided by Enzyme used by Vault Owners and Admins to oversee operations such as Holdings Valuation, subscription management, fee handling, and fund transfers.

• Investor Interface : The custom front-end through which investors interact with a Vault to subscribe (deposit/redeem), monitor performance, and access key information.