RaisingFunds

The RaisingFunds phase is the initial state of every vault. During this phase, the vault is open for investor deposits.

What Happens

• Investors call deposit(investor, amount) to fund the vault

• For each deposit, 1:1 SEP-41 debt tokens (tVLT) are minted to the investor

• A 0.5% protocol fee is deducted from each deposit and sent to the treasury

• The vault tracks each investor's deposit amount and adds them to the investor list

• In permissioned vaults, only allowlisted addresses can deposit

Key Rules

• Individual deposits can be any amount, but the total cannot exceed the principal

• Investors can withdraw their deposit at any time during this phase (debt tokens are burned)

• The phase transitions automatically to AwaitingApproval when total deposits equal the principal

Funding Deadline

If the vault was created with a funding_deadline, the vault can be cancelled if it fails to raise the full principal by the deadline.

• Anyone can call check_funding_expiry() after the deadline passes

• All investor deposits are refunded

• The manager's locked collateral is released

• The vault transitions directly to Finalized

If no funding deadline is set (funding_deadline = 0), the vault remains in RaisingFunds indefinitely until fully funded.

Relevant Functions

Function	Caller	Description
deposit(investor, amount)	Investor	Deposit funds and mint debt tokens
withdraw(investor, amount)	Investor	Withdraw deposit and burn debt tokens
check_funding_expiry()	Anyone	Cancel vault if funding deadline passed
add_to_allowlist(caller, investor)	Manager	Add investor to allowlist (permissioned vaults)