# Overview

The PiggyBank vault infrastructure is a strategy-agnostic system for managing RWA assets on Solana. It allows vault creation with any underlying asset and provides liquid positions through tokenized shares.

Its programs are compatible with Legacy and Token 2022 standard. Vault positions are represented by a liquid token (LT) that shares the same standard and decimals as its underlying. Each vault has its own epoch lifecycle: every time admin reports Net Aset Value (NAV) a new epoch is triggered, previous epoch deposits are withdrawn, and redemptions from previous to last epoch are processed.

The Token 2022 vaults are particularly suited for managing RWAs, as it is compatible with the following extensions:

* **Scaled UI Amount** - For matching underlying asset stocks splits or income distribution (dividend, coupons...)
* **Transfer Hook** - For general compliance requirement and implementing access control on the LTs.

### Key Features

Each vault operates independently with its own epoch lifecycle. Positions are represented by liquid tokens that maintain the same standard and decimals as the underlying asset.

The system separates vault infrastructure from strategy implementation. This allows:

* Any admin to create vaults for their specific strategy
* Users to maintain liquid positions they can transfer or trade
* Strategies to evolve without infrastructure changes

### Lifecycle Management

Each vault has three state accounts tracking:

* Vault configuration and totals
* Epoch-specific data
* Individual redemption records

The epoch system ensures orderly processing of deposits and redemptions while the admin manages the underlying assets according to their strategy.