# Core Concepts The MORE Vaults open standard revolves around a two‑layer architecture: 1. an invariant core that guarantees total asset accounting and upgrade safety, and 2. a set of modular facets that supply every other capability such as protocol integrations, strategy logic, governance hooks and event emitters. Each vault is instantiated by a factory that clones the generic core and then connects only those facets declared in its launch configuration, ensuring how assets are handled remains identical across the ecosystem while still letting builders innovate at the edge. Surrounding that execution layer are on‑chain registries and a governance framework. A protocol‑level DAO handles vault, facet and oracle registration as well as core upgrades, while individual vaults can adopt their own governance, whitelists and fee schedules without affecting others. Uniform event formats feed a public subgraph so explorers, dashboards, and risk engines can surface real‑time positions, fee flows, and security signals. Together these primitives (shares, canonical accounting, registries, multiscale governance, whitelists, granular fee mechanisms, layered security guards, and transparent data), form the conceptual backbone of the open vaults framework. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.more.markets/more-vaults/core-concepts.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.