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

# Vaults

> B2B lending infrastructure on Kamino — deploy a vault, allocate capital across reserves, and manage exposure

A Kamino Vault is a programmable lending product. You deploy it for a single deposit token, route capital across Kamino lending reserves, and issue share tokens to depositors. As the curator, you control allocation strategy, fees, risk parameters, and rewards — all on-chain, transparent, and depositor-facing.

This section is the operational reference for curators running vaults. If you're new to the model, start with [Concepts](/curators/vaults/concepts/how-vaults-work). If you have a workflow in mind, jump to [Guides](#guides).

## Start here

<CardGroup cols={2}>
  <Card title="How vaults work" icon="book-open" href="/curators/vaults/concepts/how-vaults-work">
    The vault primitive: share tokens, allocation, depositor flow, and the curator's role.
  </Card>

  <Card title="Create a vault" icon="circle-plus" href="/curators/vaults/guides/create-a-vault">
    Deploy your first vault, configure fees, and complete post-creation setup.
  </Card>
</CardGroup>

## Concepts

Read once to understand the system.

<CardGroup cols={2}>
  <Card title="Allocations" icon="chart-pie" href="/curators/vaults/concepts/allocations">
    How capital is distributed across reserves — Standard vs. Conditional, weights, caps, and priority.
  </Card>

  <Card title="Liquidity & withdrawals" icon="droplet" href="/curators/vaults/concepts/liquidity-and-withdrawals">
    Unallocated buffer, instant vs. queued exits, and the withdrawal queue primitive.
  </Card>

  <Card title="Yield & fees" icon="coins" href="/curators/vaults/concepts/yield-and-fees">
    APY model, performance and AUM fees, withdrawal penalty, crank fee, and farm rewards.
  </Card>

  <Card title="Roles & ownership" icon="user-shield" href="/curators/vaults/concepts/roles-and-ownership">
    Admin types, the multisig model, and how Squads-based execution works.
  </Card>

  <Card title="Risk primitives" icon="shield" href="/curators/vaults/concepts/risk-primitives">
    The Insurance Pool and Whitelisted Reserves — the two protections you offer depositors.
  </Card>

  <Card title="Permissioned vaults" icon="lock" href="/curators/vaults/concepts/permissioned-vaults">
    Gate vault deposits behind a per-user allowlist. KYC, accredited-investor, and counterparty-gated configurations.
  </Card>

  <Card title="Fixed Rates" icon="crosshairs" href="/curators/vaults/fixed-rates">
    Allocating into fixed-rate reserves: the rate grid, term premium, and the curator's strategy surface.
  </Card>
</CardGroup>

## Guides

Task-oriented walkthroughs in the order you typically run them.

### Setup

<CardGroup cols={2}>
  <Card title="Create a vault" icon="circle-plus" href="/curators/vaults/guides/create-a-vault">
    Deploy the vault and set fees, mins, and penalties. Optionally enable Whitelisted Reserves at creation (UI/SDK).
  </Card>

  <Card title="Transfer admin to multisig" icon="key" href="/curators/vaults/guides/transfer-admin">
    Move your vault to Squads multisig control before any subsequent state-changing operations.
  </Card>

  <Card title="Configure allocations" icon="sliders" href="/curators/vaults/guides/configure-allocations">
    Add, edit, and remove reserve allocations.
  </Card>

  <Card title="Configure fixed-rate allocations" icon="crosshairs" href="/curators/vaults/guides/configure-fixed-rate-allocations">
    The FR-specific allocation walkthrough — Standard, Conditional, priority. Skip if you have no FR exposure.
  </Card>

  <Card title="Enable Whitelisted Reserves" icon="lock" href="/curators/vaults/guides/enable-whitelisted-reserves">
    Restrict your vault to protocol-verified reserves. Required for UI listing.
  </Card>

  <Card title="Set up the Insurance Pool" icon="shield-halved" href="/curators/vaults/guides/set-up-insurance-pool">
    Lock skin-in-the-game capital, trigger the Kamino match, configure emergency-withdrawal multisig.
  </Card>

  <Card title="Enable permissioning" icon="lock" href="/curators/vaults/guides/enable-permissioning">
    Switch the vault into permissioned mode and manage the depositor allowlist via kperm.
  </Card>
</CardGroup>

### Operate

<CardGroup cols={2}>
  <Card title="Collect fees" icon="coins" href="/curators/vaults/guides/collect-fees">
    Withdraw pending fees, give up fees, and update fee rates.
  </Card>
</CardGroup>

### Reference / fallback

<CardGroup cols={2}>
  <Card title="Configure farms" icon="sprout" href="/curators/vaults/guides/configure-farms">
    Post-creation farm setup. Skip if your vault was created via SDK or UI — farms are typically created automatically there.
  </Card>
</CardGroup>

## Data & API

<CardGroup cols={2}>
  <Card title="Vault data" icon="database" href="/curators/data/vault-data">
    Query vault state, metrics, and historical performance.
  </Card>

  <Card title="Allocation data" icon="chart-pie" href="/curators/data/allocation-data">
    Read current allocations and historical allocation changes.
  </Card>

  <Card title="Depositor data" icon="users" href="/curators/data/depositor-data">
    Query depositor positions and shares.
  </Card>

  <Card title="Rewards data" icon="gift" href="/curators/data/rewards-data">
    Query farm reward programs and incentive data.
  </Card>
</CardGroup>

## Reference

<CardGroup cols={2}>
  <Card title="Parameters" icon="table" href="/curators/reference/parameters">
    Complete parameter reference for vaults, allocations, and farms.
  </Card>

  <Card title="Glossary" icon="book" href="/curators/reference/glossary">
    One-line definitions for every term used in this section.
  </Card>
</CardGroup>

<Info>
  All vault operations are managed via [manage.kamino.com](https://manage.kamino.com) and executed through [Squads](https://squads.so) multisig once the vault is in production. Programmatic operations are available via the [TypeScript SDK](https://github.com/Kamino-Finance/klend-sdk) and the [Kamino CLI](/build/cli/installation-setup).
</Info>