vaults

Vaults provide institutional-grade infrastructure for passive capital to enter ensurance—enabling BlackRock, reinsurers, family offices, and other large allocators to invest in ecological assets.

why

The $1 trillion biodiversity funding gap requires institutional capital. But institutions need:

Familiar infrastructure (not raw crypto)
Audited, battle-tested contracts
Passive exposure (not active management)
Diversified holdings (not single assets)

Vaults bridge institutional requirements with ensurance's ecological instruments.

what

vault architecture

Vaults are smart contracts that:

Accept deposits (ERC-20 like USDC, WETH)
Issue shares (fungible tokens representing ownership)
Hold ecological assets (agents, certificates, coins)
Manage via strategy (merkle-verified calls)

Institutional Capital (USDC/ETH)
         ↓ deposit
    Vault Shares (ERC-20)
         ↓ vault holds
    Ecological Assets
         │
         ├── Agents (ERC-721)
         ├── Certificates (ERC-1155)
         └── Coins (ERC-20)

vaults vs syndicates

Both aggregate capital, but serve different purposes:

Aspect	Syndicates	Vaults
Technology	Agent TBA	Boring Vault
Depositors	Community, grassroots	Institutional, passive
Management	Active coordination	Strategy-driven
Governance	Member-directed	Manager-directed
Target	Thematic alignment	Risk-adjusted returns

Syndicates and vaults are complementary. A vault can hold syndicate agents, creating nested composability.

vault themes

Vaults can be organized by theme:

Vault	Underlying Assets	Target Investor
Water Vault	Watershed agents, hydrology certs	Utilities, water funds
Wildfire Vault	Fire-prone region certs, fuel reduction agents	P&C insurers
Biodiversity Vault	Species certs, conservation agents	Impact investors, ESG
Carbon Vault	Sequestration certs, forest agents	Corporates, carbon buyers
Coastal Vault	Mangrove/wetland certs, coastal agents	Flood insurers
Regional Vault	Place-based certs across a bioregion	Local foundations

how

vault flow

1. Investor deposits ERC-20 (USDC, WETH)
         ↓
2. Vault issues shares (ERC-20)
         ↓
3. Manager allocates to:
   - Agents (all types)
   - Certificates (policies, lines)
   - Coins (liquidity, indirect exposure)
         ↓
4. Proceeds flow from assets → vault → shareholders
         ↓
5. Vault NAV increases
         ↓
6. Shareholders benefit

vault components

Component	Function
Teller	Handles deposits/withdrawals
Manager	Executes strategies via merkle-verified calls
Boring Vault	Holds assets (ERC-20, ERC-721, ERC-1155)
Accountant	Off-chain oracle for share pricing

depositing

To invest in a vault:

Connect wallet with supported ERC-20
Approve token for vault deposit
Deposit desired amount
Receive vault shares

Shares represent pro-rata ownership of all vault holdings.

withdrawing

To exit:

Request withdrawal
Wait for queue (if applicable)
Receive underlying assets or USDC

Withdrawal mechanics depend on vault configuration and liquidity.

vault pricing

Share price = Net Asset Value / Total Shares

NAV includes:

Market value of held coins
Assessed value of certificates
Estimated value of agent holdings

Pricing ecological assets requires specialized accountants that understand natural capital valuation.

institutional customers

Tier	Customer Type	Why Vaults Fit
1	Insurers, reinsurers	Reduce loss ratios via ecological buffers
1	Family offices	Generational wealth in natural infrastructure
1	Pension funds	ESG mandates, long-duration assets
2	Impact investors	Measurable outcomes + returns
2	Corporate treasuries	Nature dependencies, supply chain resilience
3	DAOs	Treasury diversification into real assets

status

Vaults are in development. The protocol is evaluating partnership with Veda (Boring Vault infrastructure, $3.5B+ TVL) for deployment.

agents — What vaults can hold
pools — Complementary liquidity mechanism
proceeds — How vault returns flow
certificates — Asset-specific holdings