Meta Vaults

Allocate one deposit across multiple yield strategies in a single ERC-4626 vault, with weights that can be updated over time.

A Meta Vault is an ERC-4626 vault that holds a configurable set of underlying strategies instead of one. You deposit a single asset, such as USDC, and receive vault shares; the vault splits and holds your deposit across its whitelisted strategies according to target weights, and a portion idle. Each strategy in the set is itself an ERC-4626 vault (a “meta-asset”), so the Meta Vault’s own share price is a single number derived from the value of everything it holds.

Meta Vault vs. OAV

An OAV v3 vault wraps exactly one strategy, fixed at deployment. A Meta Vault wraps a set of one or more strategies that can be changed after deployment: strategies can be added, removed, or replaced, and their target weights updated, without redeploying the vault or moving users to a new address. A Sentinel Vault is a Meta Vault configured with a single strategy, used when the value is the ability to swap or pause that strategy rather than to diversify across several.

	OAV v3	Meta Vault
Strategies	One, fixed at deployment	One or more, changeable over time
Target weights	Not applicable	Basis-point weight per strategy plus an idle weight
Rebalancing	Not applicable	setWeights() and rebalance(), manual or automated
Fees	Deposit, management, performance	Same fee types, same share-minting model

Strategy allocation at a glance

Each strategy in a Meta Vault’s set carries a current weight (how much of the portfolio it actually holds right now) and a target weight (what the vault is trying to reach). yield.xyz tracks, per strategy: the current and target weight, the deployed amount, the strategy’s APY, its TVL, and its remaining deposit capacity. This is the data an operator or an optimizer reviews before deciding whether to rebalance; see Allocation, weights & rebalancing for how targets are set and enforced.

Deposit and redemption

Meta Vaults use the same ERC-4626 entry points as any yield.xyz vault:

1. You deposit the underlying asset; the vault mints you shares.
2. Deployment into strategies happens according to the vault’s current weights, either immediately or as a role holder deploys idle capital.
3. The strategies earn yield, so totalAssets(), and with it each share’s redeemable value, rises across the whole portfolio.
4. You withdraw or redeem at any time, burning shares and receiving the underlying asset back.

See Accounting & share price for how a single share price is derived from a multi-strategy portfolio.

Fees

Meta Vaults use the same fee model as OAV v3: deposit, management, and performance fees, each independently configurable, collected by minting new vault shares to the configured fee recipient rather than pulling assets out of the portfolio. See OAV v3 fees for the mechanics and Monetization for how yield.xyz’s fee model works generally.

What changed from earlier OAVs

Meta Vaults extend the OAV contract family with a multi-strategy model. Relative to a single-strategy OAV:

	Single-strategy OAV	Meta Vault
Strategies per vault	One	Multiple
Rebalancing	Not applicable	Target weights enforced through setWeights() and rebalance()
Roles	Admin and harvester, plus a dedicated pauser	Adds a strategist role (manages the strategy set) and a rebalancer role (moves capital to target) alongside admin, pauser, and harvester
Allocation optimization	Not applicable	An optional, pluggable algorithm can compute target weights from strategy APY and TVL, with every run recorded for audit

Some deployments’ target weights are set and updated manually by the vault operator; an automated optimizer is available but is not required to use a Meta Vault.

Audit status

The OAV contract family that Meta Vaults build on has been through external security review: a Cantina audit reported no critical, high, or medium severity issues, and a Zellic audit of the smart contracts has been completed and published. Each report covers a specific contract version: confirm with yield.xyz which version a given report covers before relying on it for a specific deployment. An audit reduces, but does not remove, smart contract risk.

Next steps

Architecture

The vault contract, compounding pipeline, and the off-chain optimizer.

Dashboard guide

Request and manage a Meta Vault from the yield.xyz dashboard.

Sentinel Vaults

A Meta Vault configured with a single, replaceable strategy.

Roles and signing models

The role model gating strategy, weight, and pause changes.

Allocation and rebalancing

How target weights are set and enforced on-chain.

Smart contract addendum

A conceptual walkthrough of the contract components and invariants.