> For the complete documentation index, see [llms.txt](https://button-labs.gitbook.io/button/gKgg6YSLPuW40VjoL4W1/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://button-labs.gitbook.io/button/gKgg6YSLPuW40VjoL4W1/core/vaults.md).

# Vaults

### Overview

Button Vaults allow collateral token holders to permissionlessly deposit and earn yield denominated in the deposit token. Vaults are deployed on HyperEVM and serve as the primary entry point for Bitcoin and other collateral within the Button protocol. Each Vault tracks collateral deposits, issues vault tokens representing proportional ownership, and allocates liquidity to strategy modules known as Tailors.

Vaults can operate in either public or private permissioned modes depending on end user requirements. A private permissioned vault allows for full segregation of collateral deposits, allowing for the end user to customize their strategies.

### Technical Components

Button Vaults are a fork of [boring-vault](https://docs.veda.tech/architecture-and-flow-of-funds), a widely used codebase that secures billions of dollars in TVL across multiple protocols.

We introduce several key modifications and configurations to tailor it to Button’s architecture:

* **TVL Caps:** Configurable upper limits to manage vault size and risk exposure.
* **Oracle:** Determines vault value based on the performance and NAV of underlying strategies.
* **Async Withdrawals:** Supports delayed withdrawals to ensure orderly unwinds of strategy positions

<figure><img src="/files/1nylbDqw9WakSN0011In" alt=""><figcaption></figcaption></figure>

\
Full technical details for the original Boring Vault implementation can be found [here](https://docs.veda.tech/architecture-and-flow-of-funds).

The source code for Button’s modified version can be found [here](https://github.com/buttonxyz/button-boring-vault), and audits of the modifications can be found [here](https://github.com/buttonxyz/button-boring-vault/reports/audits).


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