MORE
  • Introduction
  • MORE Vaults
    • Vaults Framework
      • Vault Factory
      • Governance
      • Diamond
      • Facets
    • Vaults
      • Allocate
      • Deposits
      • Accounting
      • Facets
      • Abstractions
      • Risks
    • Contracts
  • MORE Markets
    • Markets Framework
      • Liquidity Protocol
      • Supply
      • Borrow
      • Repay
      • Withdraw
      • Liquidations
      • Flash Loans
      • Risks
    • Markets
      • Reserve
      • Incentives
      • Oracles
    • Contracts
    • Build
  • Resources
    • Code & License
    • Brand Assets
    • FAQ
    • Security & Audits
  • Privacy Policy
  • Terms of Use
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  • Overview
  • Core Components
  • Core Principles
  1. MORE Vaults
  2. Vaults Framework

Diamond

Overview

MORE Vaults leverages the Diamond Proxy design (as defined in ERC-2535) to offer a modular and extensible framework for on-chain money management. Rather than relying on a monolithic smart contract, the Diamond Proxy architecture assembles multiple facets, each responsible for a distinct set of functions. This approach ensures that developers and Vault Creators can seamlessly add, modify, or remove functionality without disrupting user balances or requiring new contract deployments.

Core Components

  1. Diamond Proxy (Vault)

    • A single contract address to which users deposit assets.

    • Holds all persistent storage (e.g., balances, configuration parameters).

    • Delegates function calls to different facets based on the function selector.

  2. Facets

    • Modular smart contracts that provide discrete pieces of logic (e.g., ERC-4626 vault operations, integrations with lending protocols, AMMs, or complex yield strategies).

    • Verified and maintained in a Facet Registry.

    • Can be added to or removed from the Diamond Proxy, making the vault upgradable and customizable.

  3. ERC-4626 Standard

    • Ensures consistent deposit and withdrawal interfaces across the ecosystem.

    • Each deposit tokenizes a user’s share in the vault, enabling uniform yield-bearing operations, regardless of the underlying investment strategy.

Core Principles

  1. Modularity & Extensibility

    • Each piece of logic is contained in a discrete facet, so vault creators can incorporate new features or strategies simply by migrating between facets.

    • No need to redeploy an entire contract or migrate user funds; the Diamond Proxy address remains constant.

  2. Security & Trust Management

    • The Facet Registry maintains a list of verified, audited facets. While only vaults using approved facets in the Faucet Registry will be shown in the UI, users may integrate custom facets permissionlessly.

    • Role-based permissions (e.g., a curator, guardian, or vault owner) ensure that only authorized participants can adjust the vault’s strategy.

    • Consolidating storage in a single contract homogenizes facet values in order to standardize the share pricing.

  3. Neutral, Unbiased Framework

    • MORE Vaults do not force any single approach to yield generation, lending, or trading.

    • The system is permissionless at its core—anyone can build or deploy new vaults, providing an open canvas for financial innovation.

    • By relying on standardized interfaces (ERC-4626), MORE Vaults maintain compatibility with the broader DeFi ecosystem.

  4. Efficiency & User Experience

    • Users interact with one consistent vault address, even as strategies evolve or facets are replaced.

    • Deposits and withdrawals remain straightforward, following the ERC-4626 interface, keeping the user experience coherent regardless of the underlying implementation details.

    • The Multicall (i.e. Batch Execution) facet can reduce gas costs by bundling multiple operations into a single transaction.

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Last updated 17 days ago