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This page summarizes the on-chain constraints that matter for integrators and operators. It focuses on what the deployed vault program enforces.

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Main Accounts

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Program Addresses

Vault PDAs are derived from the token mint and vault base. In practice this means one rebalance vault PDA and one idle vault PDA per token mint for this program.
On non-test builds, the initializer payer can be anyone, but new vaults initialize admin and operator to the fixed production admin address above. Rebalance vault admin can later transfer admin or set a different operator.

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Roles

The program’s enabled flag gates deposits only. It does not block withdrawals.

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Permissioned Instructions

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Strategy Limits

The StrategyType enum still includes several legacy variants, but the handler dispatch for those variants panics as unsupported. Documentation should not describe those variants as active integrations unless the deployed program is updated. For JupLend, the reserve mint must match the vault token mint, the collateral mint must match the lending reserve’s f-token mint, and the remaining accounts must satisfy Jupiter Lend’s deposit or withdrawal account requirements. Jupiter Lend rewards are automatically reflected in the collateral token, so the current JupLend claim_rewards handler does not transfer a separate reward token.

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Token Support

Vault initialization, deposits, withdrawals, LP minting, and most token accounts use anchor_spl::token, the SPL Token program interface. The vault program does not include a general Token-2022 transfer-hook or transfer-fee handling path for user deposits and withdrawals.
Treat Dynamic Vault as SPL Token based unless a specific deployed vault and integration has been separately verified. Do not assume Token-2022 extension support from this program.

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Rebalance Vault vs Idle Vault

Rebalance vaults use Meteora’s configured base address and can interact with strategy instructions. Idle vaults use the default base address and are constrained out of rebalance-only instructions.

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Important Edge Cases

  • Deposits with token_amount = 0 fail.
  • Deposits fail when enabled = 0; withdrawals do not.
  • Slippage is enforced with minimum_lp_token_amount on deposit and min_out_amount on withdrawal.
  • Strategy initialization fails if fee_vault is still the default public key.
  • A fee vault must be owned by the treasury address and must use the vault LP mint.
  • Reward claims must send rewards to a treasury-owned token account.
  • Losses from strategy actions reduce locked profit before new gain is added.
  • Strategy removal does not automatically claim rewards; comments in the source indicate rewards should be claimed separately when applicable.