Thaw's "Indentura" vault standard represents an important step forward in addressing the needs of traditional investment management firms and financial technology companies. While ERC-4626 inaugurated vault smart contracts as the future of capital aggregation and deployment, an important function remains missing: yield distribution.

Thaw's vault standard enables yield distribution without users needing to redeem or burn underling vault shares.  Our guiding design principle is to replicate how traditional investment management and financial services products operate, instead of trying to bend longstanding market practices, compliance requirements and product features to meet a rigid smart contract primitive.

Our approach is not "one size fits all," but it is orderly and approachable. Vault customers first select certain parameters for their vault (e.g., closed-end vs. open-end, permissioned vs. permissionless, and distributable vs. retained value accrual). From there, we are able to work through a narrowly defined set of operating requirements and security controls to design, implement, and support a vault smart contract to meet our clients’ specific needs.

Where requested, we develop SDKs, API documentation, integration solutions, and dashboard tools to achieve a final product that achieves our customer's onchain needs while minimizing the need to change the parts of their operations and products that they want to leave unchanged.