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Overview

Vaults are accounts that store assets and handle execution of Vault Transactions. They function differently from other accounts associated with Squads, as they hold no data directly.

Understanding Vaults

Vaults are derived via a vaultIndex, which allows you to select a specific vault by chronological number. This index is used by the SDK and instructions to target the correct vault. When you look up a newly derived vault address on an explorer, it will show as an uninitialized account. This is because Solana requires any initialized account to have a non-zero SOL balance. The account is never “created” by any instruction - it becomes initialized when you deposit funds.
When you create a new wallet with Phantom, that key initially shows as “uninitialized” on an explorer until you deposit funds. Same principle with Vaults.

Quick Example

PDA Derivation

A vault account is derived with these seeds:

Full Example

Multiple Vaults

Each multisig can have multiple vaults, each with its own index:
Send assets to the Vault PDA, not the Multisig PDA. Funds sent to the Multisig account will be lost.

See Also