Solana Vault Standard (SVS)

solana-vault is a collection of tokenized vault programs and TypeScript SDK/CLI for building and maintaining yield-bearing vaults on Solana. The SDK provides deposit/withdraw operations, share accounting, preview functions, and modular extensions for fees, caps, access control, timelocks, and multi-asset portfolios.

The interface started off following the ERC-4626 specification adapted for Solana's account model. With time, more ERC's and features were also covered such as Centrifuge's ERC-7540, alongside novel onchain enforcements and implementations such as Tranched RWA vaults, streaming vault yield, vaults-of-vaults, and more.

SVS Variants

Version	Name	Balance Model	Privacy	Sync	Status
SVS-1	Public Vault (Live)	Live balance	None	No sync needed	✅ Devnet
SVS-2	Public Vault (Stored)	Stored balance	None	Requires sync()	✅ Devnet
SVS-3	Private Vault (Live)	Live balance	Encrypted	No sync needed	✅ Devnet
SVS-4	Private Vault (Stored)	Stored balance	Encrypted	Requires sync()	✅ Devnet
SVS-5	Streaming Yield Vault	Interpolated balance	None	distribute_yield() + checkpoint()	✅ Devnet
SVS-6	Streaming Private Vault	Interpolated balance	Encrypted	distribute_yield() + checkpoint()	✅ Devnet
SVS-7	SOL Vault	Live balance	None	Native SOL wrapping	✅ Devnet
SVS-8	Multi-Asset Basket	Oracle-weighted	None	Weight rebalancing	✅ Devnet
SVS-9	Allocator Vault	Stored balance	None	CPI to child vaults	✅ Devnet
SVS-10	Async Vault (ERC-7540)	Stored balance	None	Request→Fulfill→Claim	✅ Devnet
SVS-11	Credit Markets Vault	Oracle NAV	KYC + Freeze	Async (request→approve→claim)	✅ Devnet
SVS-12	Tranched Vault	Stored balance	None	Manager-driven	✅ Devnet

Balance Model Comparison

Live Balance (SVS-1, SVS-3):

Uses asset_vault.amount directly for all calculations
External donations/yield immediately reflected in share price
No sync timing attack vulnerability
No sync() function needed

Stored Balance (SVS-2, SVS-4):

Uses vault.total_assets stored in account
Requires sync() call to recognize external donations
Authority controls when yield is recognized
May be preferred for yield strategies that require controlled distribution

Streaming Balance (SVS-5):

Uses base_assets + accrued_stream_yield computed at current timestamp
Yield distributed linearly over configurable duration via distribute_yield(amount, duration)
checkpoint() materializes accrued yield into base_assets (permissionless)
Eliminates MEV from front-running discrete sync/yield operations
Suited for payroll vaults, vesting schedules, DCA strategies

Async (SVS-10):

Request→Fulfill→Claim lifecycle for deposits and redemptions
Operator fulfills requests using vault price or oracle NAV
Supports illiquid assets, RWA, and cross-chain strategies
ERC-7540 equivalent with synchronous cancellation (ERC-7887)

Privacy Model

Public (SVS-1, SVS-2):

Token-2022 shares mint (no extensions)
All balances visible on-chain
Simple, auditable, production-ready

Private (SVS-3, SVS-4):

Token-2022 with Confidential Transfers extension
Share balances encrypted with ElGamal
Only owner can decrypt their balance
Requires Rust proof backend for ZK proof generation

Program IDs

Program	Devnet	Localnet
SVS-1	`CzZyssz2PdLccWpbVi6a3wFKMmMqdf28U2RapNNRJSPX`	Same as devnet
SVS-2	`7vnZM4aCsRapH9ft7Bo5ibTXNH2dvoxkj96c7JonLhoe`	Same as devnet
SVS-3	`CC4xQGxmwKusLW3ToqUzRAFjh7cL2iKsgfkz6qJSasYs`	Same as devnet
SVS-4	`EqRNvMTwczQjUhQL8wwrxJGALgz5VWsYne3d67e6ruCv`	Same as devnet
SVS-5	`HCp23XHzV4HJHXwLWwQj8aSTU1yjyzj8FCNLe6NybwXt`	Same as devnet
SVS-6	`oaT6wgNiwCqd7EGvB6Wb5ZFYUJXckk6LEhB7MWqXbyC`	Same as devnet
SVS-7	`CR2ccVacmbQ2DaXvR66W7gnmH7KuDCqbVW5VwnTczQUC`	Same as devnet
SVS-8	`HnZ9N8Y1v6jMhwDqo4Y76GfqjRArdinadgK67yLVFZbe`	Same as devnet
SVS-9	`AaADS3DCGkjhDEDbGkygbG9bNaziR9TPK2X7SMBYedws`	Same as devnet
SVS-10	`4G5d6KutMpUaDPTVcv7FJBpPTGZej8rx3GyGnfiRdD6M`	Same as devnet
SVS-11	`CMeQ5Lx7AvjuW3DrzNvEkPZSdqKZjjhaTrAmgqBvPKHD`	Same as devnet
SVS-12	`EPwH58e5V1UXYkkD8JZ4bq7Wr2iRiC9fLj1S6BRRz2R`	Same as devnet
Mock Oracle	`Heezh11y1FJPvrUjKetGsDJTFFNdHqXPz9bFsUiEJxdh`	Same as devnet
Mock SAS	`GTTMWDHTZibyEpqNRr33RnBhgms262U6qHaGrjoHqEXg`	Same as devnet

Installation

# Core SDK (SVS-1/SVS-2)
npm install @stbr/solana-vault

# Privacy SDK (SVS-3/SVS-4)
npm install @stbr/svs-privacy-sdk

# Backend (for private vault proof generation)
cd proofs-backend && cargo run

Quick Start

import { SolanaVault, ManagedVault, StreamingVault, AsyncVault } from "@stbr/solana-vault";
import { BN } from "@coral-xyz/anchor";

// SVS-1: Load live-balance vault
const vault = await SolanaVault.load(program, assetMint, 1);

// SVS-2: Load stored-balance vault (adds sync())
const managed = await ManagedVault.load(program, assetMint, 1);

// Preview deposit
const expectedShares = await vault.previewDeposit(new BN(1_000_000));

// Deposit with slippage protection
await vault.deposit(user, {
  assets: new BN(1_000_000),
  minSharesOut: expectedShares.mul(new BN(95)).div(new BN(100)),
});

// Redeem shares
const expectedAssets = await vault.previewRedeem(shares);
await vault.redeem(user, {
  shares,
  minAssetsOut: expectedAssets.mul(new BN(95)).div(new BN(100)),
});

// SVS-2 only: sync stored balance
await managed.sync(authority);

// SVS-5: Load streaming yield vault
const streaming = await StreamingVault.load(program, assetMint, 1);

// Distribute yield over 1 hour
await streaming.distributeYield(authority, new BN(1_000_000), new BN(3600));

// Permissionless checkpoint
await streaming.checkpoint();

// SVS-10: Async vault (request→fulfill→claim)
const asyncVault = await AsyncVault.load(program, assetMint, 1);
await asyncVault.requestDeposit(user, { assets: new BN(1_000_000) });
await asyncVault.fulfillDeposit(operator, { owner: user.publicKey });
await asyncVault.claimDeposit(user, { owner: user.publicKey });

Features

Feature	Description
Inflation Attack Protection	Virtual offset mechanism prevents donation attacks
Vault-Favoring Rounding	All operations round to protect vault solvency
Slippage Protection	Min/max parameters prevent sandwich attacks
Multi-Vault Support	Multiple vaults per asset via `vault_id`
Emergency Controls	Pause/unpause and authority transfer
CPI-Composable Views	Preview functions callable from other programs

On-Chain Modules (SVS-1)

SVS-1 includes optional on-chain modules for enforcing vault policies at the program level. Build with --features modules to enable.

Module	Description
`svs-fees`	Entry/exit fees (max 10%), collected later via admin instruction
`svs-caps`	Global and per-user deposit caps with bypass prevention
`svs-locks`	Time-locked shares before redemption (max 1 year)
`svs-access`	Whitelist/blacklist with merkle proof verification

Module PDAs are passed via remaining_accounts. If not passed, checks are skipped (backward compatible).

# Build SVS-1 with modules
anchor build -p svs-1 -- --features modules

SDK Extensions

The TypeScript SDK includes modular extensions for common vault patterns:

Module	Description
`fees`	Management, performance, and entry/exit fee calculation
`cap`	Global and per-user deposit caps
`emergency`	Emergency withdrawal with configurable penalty
`access-control`	Whitelist/blacklist with merkle proof verification
`multi-asset`	Portfolio allocation across multiple vaults
`timelock`	Governance proposal lifecycle management
`strategy`	CPI templates for deploying assets to external protocols

CLI

The SDK includes a CLI for vault management:

# Install globally
npm install -g @stbr/solana-vault

# Initialize config
solana-vault config init

# Add vault alias
solana-vault config add-vault my-vault <ADDRESS> --variant svs-1 --asset-mint <MINT>

# Common operations
solana-vault info my-vault                    # View vault state
solana-vault balance my-vault                 # Check your balance
solana-vault deposit my-vault -a 1000000      # Deposit assets
solana-vault withdraw my-vault -a 500000      # Withdraw assets
solana-vault dashboard my-vault               # Live monitoring

# Admin (authority only)
solana-vault pause my-vault                   # Emergency pause
solana-vault sync my-vault                    # Sync balance (SVS-2/4)

# Async vault (SVS-10)
solana-vault async request-deposit my-vault -a 1000000
solana-vault async fulfill-deposit my-vault --owner <PUBKEY>
solana-vault async claim-deposit my-vault --owner <PUBKEY>
solana-vault async request-redeem my-vault -s 500000
solana-vault async set-operator my-vault --operator <PUBKEY>

Global flags: --dry-run, --yes, --output json, --keypair <path>, --url <rpc>

Core Operations

Operation	User Action	Rounding	Favors
deposit	Pay exact assets → receive shares	Floor	Vault
mint	Receive exact shares → pay assets	Ceiling	Vault
withdraw	Receive exact assets → burn shares	Ceiling	Vault
redeem	Burn exact shares → receive assets	Floor	Vault

Architecture

+--------------------------------------------------------------------+
|                    Solana Vault Standard                           |
+--------------------------------------------------------------------+
|                                                                    |
|   PUBLIC VAULTS                     PRIVATE VAULTS                 |
|   +------------------+              +------------------+           |
|   |                  |              |                  |           |
|   | SVS-1            | Live         | SVS-3            | Live      |
|   | (No sync needed) | Balance      | (No sync needed) | Balance   |
|   |                  |              |                  |           |
|   +------------------+              +------------------+           |
|   |                  |              |                  |           |
|   | SVS-2            | Stored       | SVS-4            | Stored    |
|   | (sync() for      | Balance      | (sync() for      | Balance   |
|   |  yield accrual)  |              |  yield accrual)  |           |
|   +------------------+              +--------+---------+           |
|   |                  |                                             |
|   | SVS-5            | Streaming                                   |
|   | (distribute_yield| Balance                                     |
|   |  + checkpoint)   |                                             |
|   +------------------+                                             |
|            |                                 |                     |
|            v                                 v                     |
|   +------------------+              +------------------+           |
|   |  SPL Token       |              |  Token-2022      |           |
|   |  (public u64)    |              |  + CT Extension  |           |
|   +------------------+              |  (encrypted)     |           |
|                                     +--------+---------+           |
|                                              |                     |
|                                              v                     |
|                                     +------------------+           |
|                                     |  Proofs Backend  |           |
|                                     |  (Rust/Axum)     |           |
|                                     +--------+---------+           |
|                                              |                     |
|                                              v                     |
|                                     +------------------+           |
|                                     |  ZK ElGamal      |           |
|                                     |  Proof Program   |           |
|                                     +------------------+           |
|                                                                    |
|   ASYNC VAULTS                                                     |
|   +------------------+                                             |
|   |                  |                                             |
|   | SVS-10           | Stored                                     |
|   | (Request→Fulfill | Balance                                    |
|   |  →Claim)         | + Oracle                                   |
|   |                  |                                             |
|   +------------------+                                             |
+--------------------------------------------------------------------+

PDA Derivation

Vault PDA

Seeds: ["vault", asset_mint, vault_id (u64 LE)]

SVS-5 note: StreamVault uses seed "stream_vault" instead of "vault".

const [vault] = PublicKey.findProgramAddressSync(
  [Buffer.from("vault"), assetMint.toBuffer(), vaultId.toArrayLike(Buffer, "le", 8)],
  programId
);

Shares Mint PDA

Seeds: ["shares", vault_pubkey]

const [sharesMint] = PublicKey.findProgramAddressSync(
  [Buffer.from("shares"), vault.toBuffer()],
  programId
);

Instructions

Core Operations (All Programs)

Instruction	Description
`initialize`	Create new vault
`deposit`	Deposit assets, receive shares
`mint`	Mint exact shares, pay assets
`withdraw`	Withdraw exact assets, burn shares
`redeem`	Burn shares, receive assets

Admin Operations

Instruction	SVS-1	SVS-2	SVS-3	SVS-4	SVS-5	Description
`pause`	✓	✓	✓	✓	✓	Emergency pause vault
`unpause`	✓	✓	✓	✓	✓	Resume operations
`transfer_authority`	✓	✓	✓	✓	✓	Transfer admin rights
`sync`	✗	✓	✗	✓	✗	Sync total_assets with balance
`distribute_yield`	✗	✗	✗	✗	✓	Start streaming yield distribution
`checkpoint`	✗	✗	✗	✗	✓	Materialize accrued yield (permissionless)

View Functions (All Programs)

Instruction	Description
`preview_deposit`	Preview shares for asset deposit
`preview_mint`	Preview assets needed for share mint
`preview_withdraw`	Preview shares burned for asset withdrawal
`preview_redeem`	Preview assets received for share redemption
`convert_to_shares`	Convert asset amount to shares
`convert_to_assets`	Convert share amount to assets
`total_assets`	Get total vault assets
`max_deposit`	Get maximum deposit amount
`max_mint`	Get maximum mint amount
`max_withdraw`	Get maximum withdraw amount
`max_redeem`	Get maximum redeem amount

SVS-3/SVS-4 view difference: max_withdraw returns the vault's total assets (not user-specific) and max_redeem returns u64::MAX, because encrypted share balances can't be read on-chain. SVS-1/SVS-2 return user-specific values based on owner_shares_account.amount.

SVS-5 view addition: get_stream_info returns current stream parameters (base_assets, stream_amount, stream_start, stream_end). All view functions use effective_total_assets(now) for share price computation.

Private Vault Only (SVS-3, SVS-4)

Instruction	Description
`configure_account`	Enable confidential mode on user account
`apply_pending`	Move pending balance to available

Error Codes

Code	Name	Description
6000	ZeroAmount	Amount must be > 0
6001	SlippageExceeded	Slippage tolerance exceeded
6002	VaultPaused	Vault is paused
6003	InvalidAssetDecimals	Asset decimals > 9
6004	MathOverflow	Arithmetic overflow
6005	DivisionByZero	Division by zero
6006	InsufficientShares	Not enough shares
6007	InsufficientAssets	Not enough assets
6008	Unauthorized	Not vault authority
6009	DepositTooSmall	Below minimum deposit
6010	AccountNotConfigured	Account not configured for confidential transfers
6011	PendingBalanceNotApplied	Pending balance not applied
6012	InvalidProof	Invalid ZK proof data
6013	ConfidentialTransferNotInitialized	CT extension not initialized
6014	InvalidCiphertext	Invalid ciphertext format

Events

Event	Description
`VaultInitialized`	New vault created
`Deposit`	Assets deposited
`Withdraw`	Assets withdrawn
`VaultSynced`	Total assets synced (SVS-2, SVS-4 only)
`YieldStreamStarted`	Yield stream started (SVS-5 only)
`Checkpoint`	Yield materialized into base_assets (SVS-5 only)
`VaultStatusChanged`	Pause/unpause
`AuthorityTransferred`	Authority changed

Security

Key Features:

Virtual offset inflation attack protection
Vault-favoring rounding strategy
Slippage protection on all operations
Emergency pause mechanism
Checked arithmetic throughout
PDA bumps stored (not recalculated)
SVS-1/SVS-3 use live balance (no sync timing attack)

Audit Status: 10 internal audit rounds completed (v1–v10), all findings resolved. No external audit yet.

Testing

# Build all programs
anchor build

# Run all tests (200+ tests, requires proof backend for SVS-3/SVS-4)
anchor test

# Run with modules feature (includes 16 module tests)
anchor build -p svs-1 -- --features modules && anchor test --skip-build

# Run SDK tests (460 tests)
cd sdk/core && npm test

# Run SVS-1 tests only
anchor test -- --grep "svs-1"

# Run specific test file
anchor test -- --grep "yield"

# Backend tests (19 tests)
cd proofs-backend && cargo test

# Start proof backend (required for SVS-3/SVS-4 CT tests)
cd proofs-backend && cargo run

Project Structure

solana-vault-standard/
├── programs/
│   ├── svs-1/                    # Public vault, live balance
│   ├── svs-2/                    # Public vault, stored balance
│   ├── svs-3/                    # Private vault, live balance (beta)
│   ├── svs-4/                    # Private vault, stored balance (beta)
│   ├── svs-5/                    # Streaming yield vault
│   ├── svs-6/                    # Streaming private vault
│   ├── svs-7/                    # SOL vault (native SOL wrapping)
│   ├── svs-8/                    # Multi-asset basket vault
│   ├── svs-9/                    # Allocator vault (CPI to child vaults)
│   ├── svs-10/                   # Async vault (ERC-7540)
│   ├── svs-11/                   # Credit markets vault (async, oracle NAV, KYC)
│   ├── svs-12/                   # Tranched vault, waterfall yield/loss
│   ├── mock-oracle/              # Mock oracle for testing
│   └── mock-sas/                 # Mock SAS for testing
├── modules/
│   ├── svs-math/                 # Shared math (mul_div, rounding, conversion)
│   ├── svs-fees/                 # Entry/exit fee calculation
│   ├── svs-caps/                 # Global/per-user deposit caps
│   ├── svs-locks/                # Time-locked shares
│   ├── svs-access/               # Whitelist/blacklist + merkle proofs
│   ├── svs-module-hooks/          # Module hook integration
│   ├── svs-rewards/              # Secondary reward distribution
│   └── svs-oracle/               # Oracle price validation
├── sdk/
│   ├── core/                     # @stbr/solana-vault
│   └── privacy/                  # @stbr/svs-privacy-sdk
├── proofs-backend/               # Rust proof generation backend
│   ├── src/
│   ├── Cargo.toml
│   ├── Dockerfile
│   └── README.md
├── tests/
│   ├── svs-{1..12}.ts           # Per-program integration tests
│   ├── svs-11-sdk.ts            # SVS-11 SDK tests
│   ├── svs-12-sdk.ts            # SVS-12 SDK tests
│   ├── svs-9-e2e.ts             # SVS-9 end-to-end tests
│   ├── modules.ts               # Module integration tests
│   ├── helpers/
│   │   └── proof-client.ts      # ZK proof backend client helpers
│   ├── admin-extended.ts        # Admin function tests
│   ├── decimals.ts              # Multi-decimal tests
│   ├── edge-cases.ts            # Edge case tests
│   ├── full-lifecycle.ts        # Full lifecycle tests
│   ├── invariants.ts            # Invariant tests
│   ├── multi-user.ts            # Multi-user tests
│   └── yield-sync.ts            # Yield/live balance tests
└── docs/
    ├── ARCHITECTURE.md          # Technical architecture
    ├── CLI.md                   # CLI reference
    ├── CONSTANTS.md             # Constants reference
    ├── DEPLOYMENT.md            # Deployment guide
    ├── ERC-4626-REFERENCE.md    # Original ERC-4626 spec
    ├── ERRORS.md                # Error codes
    ├── EVENTS.md                # Event definitions
    ├── MODULES.md               # Module system
    ├── PATTERNS.md              # Design patterns
    ├── PRIVACY.md               # Privacy model & proof backend
    ├── SDK.md                   # SDK usage guide
    ├── SECURITY.md              # Attack vectors & mitigations
    ├── TESTING.md               # Test guide & coverage
    └── SVS-{1..12}.md           # Per-program specifications

AI Development

This project uses solana-claude for Claude Code integration — skills, rules, agents, and MCP servers for Solana development.

Resources

License

Apache 2.0

Disclaimer

This software is provided "as is" without warranty. Use at your own risk. 10 internal audit rounds completed but no external audit. Private vaults (SVS-3, SVS-4) require the Rust proofs backend for full functionality.

Name		Name	Last commit message	Last commit date
Latest commit History 253 Commits
.claude		.claude
.github/workflows		.github/workflows
.vscode		.vscode
audit		audit
docs		docs
modules		modules
programs		programs
proofs-backend		proofs-backend
scripts		scripts
sdk		sdk
tests		tests
trident-tests		trident-tests
.env.example		.env.example
.gitignore		.gitignore
.gitmodules		.gitmodules
.mcp.json		.mcp.json
Anchor.toml		Anchor.toml
CHANGELOG.md		CHANGELOG.md
CLAUDE.local.md		CLAUDE.local.md
CLAUDE.md		CLAUDE.md
CONTRIBUTING.md		CONTRIBUTING.md
Cargo.toml		Cargo.toml
LICENSE		LICENSE
README.md		README.md
package.json		package.json
tsconfig.json		tsconfig.json
yarn.lock		yarn.lock

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Solana Vault Standard (SVS)

SVS Variants

Balance Model Comparison

Privacy Model

Program IDs

Installation

Quick Start

Features

On-Chain Modules (SVS-1)

SDK Extensions

CLI

Core Operations

Architecture

PDA Derivation

Vault PDA

Shares Mint PDA

Instructions

Core Operations (All Programs)

Admin Operations

View Functions (All Programs)

Private Vault Only (SVS-3, SVS-4)

Error Codes

Events

Security

Testing

Project Structure

AI Development

Resources

License

Disclaimer

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Repository files navigation

Solana Vault Standard (SVS)

SVS Variants

Balance Model Comparison

Privacy Model

Program IDs

Installation

Quick Start

Features

On-Chain Modules (SVS-1)

SDK Extensions

CLI

Core Operations

Architecture

PDA Derivation

Vault PDA

Shares Mint PDA

Instructions

Core Operations (All Programs)

Admin Operations

View Functions (All Programs)

Private Vault Only (SVS-3, SVS-4)

Error Codes

Events

Security

Testing

Project Structure

AI Development

Resources

License

Disclaimer

About

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