Quickstart: Create and Run a Vault

This walks through creating a vault, updating its parameters, onboarding depositors, and handling day-to-day manager operations via the vaults-sdk CLI. For a conceptual overview of roles and fee constraints, see Vault Managers.

Decide vault parameters

Parameter	Description
`market-index` / `spotMarketIndex`	Deposit token (e.g. 0 = USDT on mainnet-beta, dUSDT on devnet).
`redeem-period`	Withdrawal cooldown in seconds (often 3–7 days).
`max-tokens`	Capacity / risk control.
`management-fee`	Annualized management fee.
`profit-share`	Performance fee on realized gains.
`permissioned` + `min-deposit-amount`	Optional onboarding controls.

Initialize the vault

Vault initialization is permissionless. From the @velocity-exchange/vaults-sdk CLI (packages/vaults-sdk in the velocity-v1 monorepo):


git clone https://github.com/velocity-exchange/velocity-v1.git
cd velocity-v1
bun install                       # once, at the repo root
cd packages/vaults-sdk
 
bun run cli -- init-vault \
  --name "MyVault" \
  --market-index 0 \
  --redeem-period 604800 \
  --max-tokens 0 \
  --management-fee 2 \
  --profit-share 20

--management-fee/--profit-share take a plain percentage number (2 = 2%, not basis points) — the CLI scales it against the on-chain PERCENTAGE_PRECISION (1e6 = 100%), and initialize_vault rejects any value ≥ 100%.

The CLI reads -u/--url (or RPC_URL) and -k/--keypair (or KEYPAIR_PATH) for the RPC endpoint and signer; --env selects devnet or mainnet-beta (default mainnet-beta).

Add --permissioned and --min-deposit-amount <amount> if you want whitelisted depositors and a minimum deposit size. Vault name must be unique.

Update parameters and enable trading

After creation you can lower fees, shorten redeem period, or adjust caps (within the one-way constraints described in Vault Managers):


bun run cli -- manager-update-vault \
  --vault-address <VAULT_ADDRESS> \
  --redeem-period 1000 \
  --max-tokens 200000 \
  --management-fee 0 \
  --profit-share 0

To enable margin trading on the vault:


bun run cli -- manager-update-margin-trading-enabled \
  --vault-address <VAULT_ADDRESS> \
  --enabled true

View vault state anytime:


bun run cli -- view-vault --vault-address <VAULT_ADDRESS>

Permissioned vaults (allowing depositors)

For permissioned vaults, the manager must initialize each depositor:


bun run cli -- init-vault-depositor \
  --vault-address <VAULT_ADDRESS> \
  --deposit-authority <AUTHORITY_TO_ALLOW_DEPOSIT>

Deposits and withdrawals are otherwise as in the standard flow: request withdrawal → wait redeem period → complete withdrawal.

Manager operations

Common manager actions:

Manager deposit/withdraw
Apply profit share across depositors
View vault state and depositors

Run bun run cli -- --help from packages/vaults-sdk for the full command list and flags.

Next steps

Need manager borrowing or margin beyond the base vault? See Trusted vaults.
Want a multisig (e.g. Squads) as vault manager instead of a single keypair? See Multisig manager.