Product Architecture

Vault Architecture

The architecture exists to make one promise credible: that every movement of your money is authorised, verifiable, and impossible for any single party to force through unilaterally. The platform is organised into three layers, a Vault Operations layer, the Kamui Backend Core, and a user-facing web app, connected to on-chain infrastructure and issuers on one side and to operational tooling and governance on the other.

Figure 14. Kamui Vault system architecture.

Vault operations

These are the recurring functions the operations team runs every day, using proprietary tools and automated processes under documented guidelines and SOPs. The goal is to keep each vault aligned to its strategy, maintain safety, create transparency, and manage risk and liquidity.

Component	Function
Daily NAV Publication	Computes and publishes each vault’s net asset value daily, setting the share price at which deposits and withdrawals settle.
Asset Due Diligence	Runs AI-powered due diligence by Kamui’s in-house experts on every asset, using an internal risk framework, combined with independent external ratings, before the asset can be allocated.
Daily Rebalancing	Adjusts each vault toward its target weights while maintaining a liquidity buffer that backs withdrawals.
Continuous Risk Monitoring	Tracks issuer, credit, market, and on-chain risks on live positions and flags breaches for action.
Asset & Vault Data Maintenance	Maintains the asset registry continuously: records, metadata, issuer and tokeniser information, and data sources.
Periodic Performance Review	Reviews realised performance, yield, and tracking against strategy on a scheduled cadence.

Kamui backend core

The backbone of platform operations. It ensures that on-chain actions are safe and verifiable and keeps the system’s data, security, and compliance state current.

Component	Function
Internal Database	The platform’s system of record: NAV proposals and history, asset and vault registries, approval queues, and audit logs.
Pricing Engine	Ingests asset NAVs from tokenisers and on-chain oracles, screens out stale records, cryptographically signs each price, and submits verified NAV proposals.
Transaction Simulation	Pre-flight simulates every state-changing transaction, so failures are caught before any signature is collected.
Wallet & Key Management	Manages the platform’s MPC wallets, signer quorums, and the policies that authorise and execute on-chain actions.
Indexing Service	Indexes on-chain events (deposits, withdrawals, settlements) to keep balances, composition, and activity views current.
System Monitoring	Watches platform health, scheduled jobs, and integrations, and raises operational alerts.
AML & Compliance Policies	Screens addresses against sanctions and AML lists and synchronises the on-chain allow and block lists.
On-chain Monitoring	Watches the vault contracts and positions on-chain for unexpected state or activity.
Roles & Permissions	Enforces role-based access control, signer-group quorums, and the approval workflow for every privileged action.

External integrations

The on-chain and issuer systems the platform reads from and writes to.

Integration	Role
Ethereum Mainnet (Subgraph / RPC / Oracle)	Reads chain state and historical data and pushes signed transactions to the network.
Issuer / Tokeniser Connectivity	Mints and redeems tokenised real-world assets directly with issuers and tokenisers.
Lagoon Smart Contracts	Interacts with the ERC-7540 vault, pending silo, and curator functions that hold assets and settle requests.

Operational tooling and governance

Three decision-support tools sit alongside Vault Operations, and three oversight bodies govern the Backend Core.

Module	Role
Asset Evaluation Engine	AI-powered asset screening and scoring that supports asset-level due diligence, including in-depth risk and performance research.
Vault Simulator	Models vault portfolio combinations for vault-level performance and liquidity scenarios before changes are made.
Rebalancing Tool	Proposes daily rebalancing actions based on daily inflows and outflows, vault parameters, and rebalancing policies.
Risk Committee	Owns asset selection, performance and liquidity review, risk-framework definition, and vault-parameter review.
Security Committee	Owns roles and permission policies, wallet policies, technical and operational controls, and execution-related guardrails.
In-house Legal Counsel	Oversees compliance, monitors allow and block-list changes, and advises on regulatory matters.

Underlying protocol: Lagoon ERC-7540

Each Kamui vault is an ERC-7540 asynchronous vault deployed on Lagoon’s infrastructure. Deposits are synchronous: you receive your receipt tokens instantly. Withdrawals are asynchronous: the standard separates your withdrawal request from its settlement. Shares being withdrawn are first moved into a pending silo contract, then settled together in a batch at a single, verified valuation point. Each vault issues a standard ERC-20 receipt token (USDst, USDbd, USDbt). Value accrues through price appreciation, not rebasing: the token price equals total vault NAV divided by total token supply, so as the portfolio earns, the token’s price rises and no manual claim or harvest is required. Tokens are minted on deposit, burned on withdrawal, and are freely transferable.

Getting Started

Product

Legal & Support

Product Architecture

Vault Architecture

Vault operations

Kamui backend core

External integrations

Operational tooling and governance

Underlying protocol: Lagoon ERC-7540

​Vault Architecture

​Vault operations

​Kamui backend core

​External integrations

​Operational tooling and governance

​Underlying protocol: Lagoon ERC-7540

Vault Architecture

Vault operations

Kamui backend core

External integrations

Operational tooling and governance

Underlying protocol: Lagoon ERC-7540