Internal Ledger (non ERC-4626 vaults)

Internal ledger + index
- Pros: No share token management; direct per-address accounting; precise fee/index math; simple withdrawals.
- Cons: No composability with ERC-4626-native tools; more custom index logic.
ERC-4626 shares (not used)
- Pros: Broad tooling support; fungible share token semantics.
- Cons: Extra token plumbing; edge-case rounding around PPS; claim semantics differ from index-based crediting.

Hypervault opts for an index-based ledger for tight control of accrual and immutable simplicity.

Last updated 11 days ago