> For the complete documentation index, see [llms.txt](https://docs.defindex.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.defindex.io/getting-started/getting-started/vault-roles.md).

# Vault Roles

**Roles** are unique identifiers that assign specific responsibilities within the vault and are the only entities with privileges to perform critical actions. Each role is associated with an `Address` that represents the entity responsible for that function. None of these roles can withdraw funds from the users.

Since each role is just an `Address`, any role can be assigned to a **smart contract** instead of a regular wallet. This enables policy-based or role-access control patterns — for example, a contract acting as the Manager could define its own internal rules, conditions, or sub-roles to govern who is allowed to trigger actions on behalf of that role.

Also, when deploying a vault, the deploying address can be any address — it doesn't need to be tied to the Manager or any other role. In other words, a vault can be set up on behalf of someone else.

The roles are:

* **Vault Manager** (`Manager`)
  * Primary owner of the vault
  * Controls vault settings, role assignments, and contract upgrades
  * Is included in the authorization check for every role-restricted function — can perform any action that Emergency Manager, Rebalance Manager, or Fee Receiver can perform, without needing to hold those roles
  * The only role that can manually lock fees (`lock_fees`) or release fees (`release_fees`). Note that fee locking also happens automatically on every deposit and withdraw — `lock_fees` is for triggering it manually
  * The only role that can upgrade the contract code (only if the vault was deployed as upgradable)
  * The only role that can change the vault's performance fee (the new rate is supplied as the optional `new_fee_bps` argument when calling `lock_fees`)
  * Can update any role address, including its own
  * *Recommendation*: Use a multisig wallet or a policy-based smart contract.
* **Rebalance Manager** (`RebalanceManager`)
  * Executes rebalancing instructions that move funds across strategies
  * *Recommendation*: Use a multisig wallet or a policy-based smart contract.
* **Fee Receiver** (`VaultFeeReceiver`)
  * Receives fees collected by the vault
  * Triggers distribution of already-locked fees to vault and protocol receivers by calling `distribute_fees`
  * Can also update the fee receiver address (shared with Manager)
  * Cannot lock or release fees, nor change the performance fee — those are Manager-only
  * *Recommendation*: Use a dedicated wallet, and make sure it has trustlines set up for the vault's underlying assets so fee distributions don't fail
* **Emergency Manager** (`EmergencyManager`)
  * Can unwind all funds from a specific Strategy and store them as idle funds in the Vault,\
    automatically pausing that Strategy (`rescue`).
  * Can pause a specific strategy, blocking deposits to it
  * Can unpause a specific strategy
  * Cannot access the vault balance or withdraw user funds directly
  * *Recommendation*: Implement as an automated bot or delegate it

## Role Permissions

| Action                                                      | Manager | Emergency Manager | Rebalance Manager | Fee Receiver |
| ----------------------------------------------------------- | :-----: | :---------------: | :---------------: | :----------: |
| Rescue assets from strategy                                 |    ✅    |         ✅         |         —         |       —      |
| Pause strategy                                              |    ✅    |         ✅         |         —         |       —      |
| Unpause strategy                                            |    ✅    |         ✅         |         —         |       —      |
| Rebalance across strategies                                 |    ✅    |         —         |         ✅         |       —      |
| Receive fees                                                |    —    |         —         |         —         |       ✅      |
| Distribute fees                                             |    ✅    |         —         |         —         |       ✅      |
| Manually lock / release fees (`lock_fees` / `release_fees`) |    ✅    |         —         |         —         |       —      |
| Change performance fee (via `lock_fees`)                    |    ✅    |         —         |         —         |       —      |
| Upgrade contract code (if the vault is upgradable)          |    ✅    |         —         |         —         |       —      |
| Change Manager                                              |    ✅    |         —         |         —         |       —      |
| Change Emergency Manager                                    |    ✅    |         —         |         —         |       —      |
| Change Rebalance Manager                                    |    ✅    |         —         |         —         |       —      |
| Change Fee Receiver                                         |    ✅    |         —         |         —         |       ✅      |

## Protocol Fee Receiver

In addition to the vault roles above, each vault also stores a **DeFindex Protocol Fee Receiver** (`DeFindexProtocolFeeReceiver`). This is not a vault role — it cannot call any function on the vault. It is a passive recipient address set at vault initialization that automatically receives a portion of the fees whenever `distribute_fees` is called. The split between the Protocol Fee Receiver and the Vault Fee Receiver is determined by the `DeFindexProtocolFeeRate` (in basis points), also set at initialization and fixed thereafter.

## Role Assignment and Updates

Roles are set at deployment and can be updated afterward by calling the corresponding setter function. Only the Manager can change most roles — the Fee Receiver address is the only one that either the Manager or the current Fee Receiver can update.

| Role              | Who can change it       |
| ----------------- | ----------------------- |
| Manager           | Manager                 |
| Emergency Manager | Manager                 |
| Rebalance Manager | Manager                 |
| Fee Receiver      | Manager or Fee Receiver |