> For the complete documentation index, see [llms.txt](https://docs.asterdex.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.asterdex.com/aster-open-standards/aos3-asset-management-vault.md).

# AOS3 Asset Management (Vault)

### Vaults

#### Overview

Vaults allow experienced traders to operate actively managed strategies using capital deposited by Vault investors  through a transparent, dedicated trading account.

A Vault is managed by a Vault Manager, while other users can participate as investors by depositing funds into the Vault. Profits and losses are reflected proportionally in each investor’s share of the Vault’s net asset value.

Vaults are designed for users who want exposure to an active trading strategy without directly managing positions themselves, while also allowing skilled traders to build a track record and earn performance-based profit share. 

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### Vault Roles

#### Vault Manager

A Vault Manager may create and operate multiple Vaults.

Managers are responsible for:

* Trading the Vault account
* Managing positions and risk
* Controlling whether new deposits are accepted
* Setting the Vault profit share rate (0% - 100%)
* Managing Vault visibility settings
* Distributing profits to investors
* Closing the Vault when appropriate

To create a Vault, managers must:

* Stake 100 $ASTER
* Make an initial investment of at least $100
* Provide a unique Vault name and description
* Configure Vault settings( account privacy, lock-up period, and profit share)

Each Vault receives its own dedicated account address and operates independently from the manager's personal trading account.

**$ASTER Creation Requirement**

Creating a Vault requires locking 100 $ASTER.

When the Vault is permanently closed:

* If the Vault's lifetime Total PnL is positive, the 100 $ASTER is returned to the manager.
* If the Vault's lifetime Total PnL is zero or negative, the 100 $ASTER is permanently burned.

#### Investors

Investors can deposit supported assets into a Vault and receive a proportional ownership share of the Vault's net asset value (NAV).

Investors do not directly control positions within the Vault. All trading decisions are made by the Vault Manager.

AOS requirements, timelines, and risk parameters may be updated as the standards evolve. Material changes will be reflected in the relevant specification.

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