> ## Documentation Index
> Fetch the complete documentation index at: https://docs.tiltprotocol.com/llms.txt
> Use this file to discover all available pages before exploring further.

# UserVault

> Permissionless curator-managed vaults with time-lock governance

# UserVault

`UserVault` extends `BaseVault` to support permissionless, curator-managed funds. Anyone can create a UserVault through the `UserVaultFactory`.

## Key Features

### Curator Governance

The vault creator (curator) manages target weights with a time-lock mechanism:

1. Curator calls `proposeWeights()` with new token/weight arrays
2. The proposal is recorded on-chain with a timestamp
3. After the time-lock delay, `executeWeightChange()` makes the new weights active
4. Curator can then trigger `rebalance()` to align holdings

The time-lock protects investors by preventing surprise portfolio changes. Investors can see pending weight changes and withdraw before they take effect.

### Approved Tokens Only

UserVaults can only hold tokens from the factory's approved token list. This prevents curators from adding unpriced, illiquid, or malicious tokens to their portfolio.

### Curator Fees

The curator earns a configurable share of all fees (up to 80%). The fee share is set at vault creation and cannot be changed.

### Idle Cash Support

Target weights can sum to less than 100% (10,000 BPS). The unallocated portion remains as idle tiltUSDC in the vault. Weights must sum to between 1 and 10,000 BPS.

## UserVaultFactory

The factory deploys UserVault instances as BeaconProxy clones. It handles:

* **Validation**: ensures valid weights, approved tokens, and minimum seed deposit
* **Deployment**: creates the BeaconProxy and initializes the vault
* **Registration**: adds the vault to `VaultRegistry`
* **Authorization**: registers the vault on `RebalanceEngine`
* **Fee setup**: configures the curator fee split in `FeeManager`

### Creation Requirements

| Parameter    | Description                                             |
| ------------ | ------------------------------------------------------- |
| Name         | Fund display name                                       |
| Symbol       | Share token symbol (auto-prefixed with "tilt")          |
| Tokens       | Array of approved token addresses                       |
| Weights      | Array of weights in BPS (must sum to 1-10000)           |
| Curator Fee  | BPS share of fees for curator (max enforced by factory) |
| Seed Deposit | Minimum tiltUSDC deposit to initialize                  |
| Creation Fee | ETH fee paid to the protocol                            |

### Beacon Upgrades

All UserVaults share a single implementation via `UpgradeableBeacon`. The protocol owner can upgrade the implementation, and all existing vaults inherit the new logic while preserving their state.