Roles and authority
Who can do what on an Akashi Invest vault, and where each rule is enforced.
Authority over a vault is defined on-chain by the akashi_vault program, not by the website.
| Role | Can | Cannot |
|---|---|---|
| Vault creator (allowlisted in the program's global config) | Create a vault; becomes its admin | Create a vault without being on the allowlist |
| Admin | Configure and activate a vault while it is in Draft; later, queue configuration changes | Bypass a timelock, or set NAV or prices |
| Executor | Allocate USDC from idle into a leg, deallocate back, fund withdrawals; pays its own fees | Mint shares, change settings, or send funds anywhere outside the vault |
| Anyone | Refresh valuations, book P&L, fund eligible withdrawals from idle, and unwind legs once a withdrawal is overdue | Anything that increases risk |
What the program checks on every allocation
- the signer is a registered executor and the vault is active;
- the leg is active and its cooldown has passed;
- valuations are fresh;
- the value recognised in the leg rose by at least the amount moved, minus the leg's maximum slippage;
- the leg stays under its cap and its maximum share of NAV, and idle cash stays above its minimum plus what pending withdrawals need;
- the cost of the move fits the vault's rolling seven-day cost budget;
- share supplies are unchanged.
The executor is not the backend
The executor is a separate signing key, never Akashi's backend. The backend only ever builds unsigned transactions.
Design vs devnet
The design also defines a guardian (instant risk reduction only: pause, lower caps, mark a leg impaired), timelocked governance for changes after activation, and a Squads multisig as admin. These are not implemented in the devnet program yet. On devnet the global config is governed by the deploy wallet, which is also the only allowlisted vault creator.