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Vault and shares

Each MicroVault accepts one base asset and issues its own ERC-20 shares. The vault contract address is also the share-token address.

Authority

Your organization’s Turnkey authority creates and configures its MicroVaults. You can export an individual vault to another EOA or ERC-1271 authority, after which Ground no longer manages it.

Shareholder policy

The shareholder allowlist is stored onchain as a Merkle root, a compact commitment to the approved wallet addresses. A wallet supplies a proof against the active root when subscribing or receiving shares. See Manage shareholders for the update procedure.

Delegation

A vault authority may delegate specific operations to a manager. Each delegation can limit the operation, source, amount, allocation range, redemption permissions, and validity period.

Valuation

NAV per share reflects the vault’s idle assets, yield-source positions, in-flight operations, and redemption liabilities. It determines how many shares a subscription receives and how much base asset a redemption returns.