Core Vaults
Mellow’s current vault architecture for curated onchain structured products.
Security
Audit reports for Core Vaults and earlier vault architectures.
Overview
Welcome to Mellow
Mellow is yield vault infrastructure for institutions, neobanks, fintechs and asset issuers, powering Lido Earn. Banks, fintechs, exchanges, wallets, custodians, brokers, payment platforms and agentic platforms can use Core Vaults to launch Earn, treasury and managed yield products under their own brand.
Core Vaults provide the smart contract primitives for deploying curated onchain products with explicit risk constraints and defined execution surfaces. Vaults define how capital moves, which actions are permitted, and which venues a strategy can use, with enforcement handled by smart contracts.
Mellow vaults operate under a curated model. Depositors provide capital, while designated curators define and operate the strategy within predefined onchain constraints. Curators cannot arbitrarily change strategy behavior. Their actions are bounded by the vault’s configuration, permissions, and limits. This separation of roles allows strategies to be actively managed while keeping risk parameters explicit and enforced at the vault level.
Core Vaults are Mellow’s current vault architecture. Earlier vault types covered specialized use cases now superseded by Core Vaults – see historical architectures for details.