The ERC-4626 standard

In the beginning, people created vault smart contracts. These smart contracts at the time have different functions and mechanisms. For illustration, in a vault smart contract, the function to deposit assets is named put_asset but in another vault smart contract, the function to deposit assets can be named differently such as deposit. This makes it hard for composability. Suppose you want to deposit assets programmatically to many vault smart contracts – you have to find out what the method name is one by one.

However, what if every vault smart contract adheres to a standard? They agree that for a method that deposits assets, the method should be named deposit. That way, you don’t have to worry about this naming issue when depositing assets into many vault smart contracts.

Fortunately, there is the ERC-4626 tokenized vault standard. The full specification of the standard can be read at this URL: https://eips.ethereum.org/EIPS/eip-4626.

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