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Earn Vaults are vaults that enable users to one-click deposit into curated, multi-venue strategies. You deposit an asset, and a curator deploys that capital across Loopscale and integrated external venues according to a defined mandate, without you having to build, monitor, or roll the underlying positions yourself. Where Loopscale Vaults supply fixed-rate lending liquidity under a curator-defined parameter set, Earn Vaults are broader: a manager can lend, loop, buy fixed-yield assets, market-make interest rate markets, or combine several of these into one strategy. Deposits stay non-custodial and every position the vault holds is visible onchain. You can browse Earn Vaults on the Earn page in the Loopscale App.
Earn Vaults may be powered by any of Loopscale’s infrastructure partners. The first infrastructure partner is Exponent, and the functionality described below applies to this first set of Earn Vaults. Mechanics such as withdrawal queueing, cancellation, and timelock length are set per provider and per vault.

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How Earn Vaults Work

  1. You deposit the vault’s accepted asset (e.g. USDC or SOL).
  2. The vault mints you share tokens at the current NAV per share. Shares are an SPL token representing proportional ownership of the vault.
  3. The manager allocates capital across the strategy’s approved venues and instruments, within onchain policy constraints.
  4. Strategy returns accrue into the vault’s NAV, so the value of your shares grows (or falls) with performance.
  5. You redeem shares through the vault’s withdrawal flow to receive the underlying asset back.
There is no separate claim step for yield. Because returns accrue to NAV rather than being distributed, your share balance stays constant with appreciation being reflected in the share price.

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Shares, NAV, and Reported Yield

The vault’s NAV (net asset value) aggregates all underlying assets, the market value of strategy positions, unrealized PnL on open positions, accrued yield and fees, and pending withdrawals. Shares are minted on deposit and burned on redemption at the prevailing NAV per share, so entering and exiting is priced fairly against existing depositors. Two different yield figures are shown, and they answer different questions:
Realized Return reflects what depositors actually earned, including slippage, rebalancing costs, and mark-to-market moves. APY reflects what the current book would earn if held. They will diverge, especially after a rebalance or in volatile conditions. Share price, Vault TVL, Deployed (share of capital currently at work rather than sitting in the liquidity reserve), and any deposit limit are shown on the vault’s Overview tab, along with the vault’s mandate, risk disclosures, and configuration.

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Depositing

Select a vault from the Earn page, review its mandate, allocation, fees, and risk disclosures, then deposit from the Deposit panel on the vault page.

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Withdrawing

Earn Vault withdrawals run through a queue, because the manager may need to unwind positions before the underlying asset is available:
  1. Request: you submit a withdrawal transaction specifying the number of shares to redeem.
  2. Fulfill: the manager unwinds positions as needed to generate the underlying asset. Requests can be filled partially or in full.
  3. Claim: you submit a claim transaction to receive the asset.
The queue exists to protect remaining depositors from adverse selection. Immediate withdrawal would force positions to be exited at unfavorable prices, and that cost would be socialized across everyone still in the vault. Vaults may support any of the following, depending on the provider and the vault’s own configuration: Each vault’s Activity tab shows the live queue: pending request count, total pending amount, and the full deposit, request, fulfill, and claim history.

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Allocation and Transparency

Every Earn Vault exposes its full book. The Allocation tab splits holdings into:
  • Unallocated liquidity: the liquidity reserve and any idle token balances, with their share of AUM
  • Deployed: positions grouped by venue (for example Loopscale, Kamino, or Exponent), each with position count, share of AUM, APY, and value
Alongside it, Overview covers headline metrics and configuration, Position shows your own balance and PnL, Activity shows queue and transaction history, and Risk carries the vault’s risk disclosures and its onchain addresses (vault PDA, share mint, and vault address).

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Fees

Fees are set per vault and shown on its detail page:
Your lifetime fees paid and cost basis are tracked per vault and shown on the Position tab.

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Policies, Timelocks, and Governance

Manager discretion is bounded by policies enforced onchain rather than by convention. Typical constraints include:
  • Asset whitelist: which tokens the vault may hold
  • Protocol whitelist: which venues the vault may interact with
  • Timelock: a mandatory waiting period between proposing and executing a parameter change
Governance settings are published on each vault page, including the timelock on parameter changes, the voting period, and the rejection threshold, the share of depositors that can block a proposed change. The effect is that depositors always see a material change coming and have a window to exit before it takes effect.
Timelock and voting parameters vary by vault and by infrastructure partner. Check the Configuration section of the specific vault before depositing.

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Risks

Earn Vaults carry more risk than passive lending, because they take active positions across multiple protocols.
Deposits interact with audited smart contracts on Solana. No audit eliminates all risk: an undiscovered bug in Loopscale, in the infrastructure partner’s vault program, or in any integrated venue could result in loss of funds. See Audits.
Underlying assets can lose value independently of the protocol. Yield-bearing tokens such as PT tokens can trade away from their redemption value, and tokenized real-world assets carry issuer credit and redemption risk.
Valuations and liquidations rely on third-party oracles. Downtime, manipulation, or stale data can produce incorrect valuations and adverse outcomes such as unjust liquidations.
Earn Vaults route capital through external venues and providers. Operational issues, downtime, or insolvency at any of those counterparties can prevent rebalancing or temporarily lock funds.
Leveraged strategies can be force-unwound during adverse market moves, realizing losses for depositors. Rebalancing trades incur slippage that is socialized to vault NAV, and concentrated positions may be difficult to exit at fair value under stress. A strategy may also simply underperform a passive alternative.
Withdrawals are not guaranteed to be instant. If the manager cannot unwind positions promptly, queued requests may take longer to fulfill than expected.
See Risks & Security for more on risk management across Loopscale.