> ## Documentation Index
> Fetch the complete documentation index at: https://docs.altura.trade/llms.txt
> Use this file to discover all available pages before exploring further.
# Altura Vault Working
> How the Altura Vault Works
## Overview
Altura wraps its multi-strategy system into a single, streamlined vault experience.\
Users deposit USDT on **HyperEVM**, receive vault shares, and earn yield as the protocol executes strategies automatically in the background.
***
## **Deposit Process & Share Issuance**
When a user deposits USDT into the Altura Vault:
* The protocol mints **vault shares** that reflect proportional ownership.
* Share count remains constant unless users deposit or withdraw.
All performance is reflected through changes in **PPS (Price-Per-Share)**.
***
## **Price-Per-Share (PPS) - How Performance Is Measured**
Altura uses PPS as its core accounting mechanism.
* As strategies generate yield, PPS increases.
* User balances grow proportionally.
* No manual claiming or compounding is required.
* All value creation is embedded directly in the PPS.
This creates transparent, on-chain performance attribution.
***
## **Oracle-Governed PPS Updates**
PPS updates occur through authenticated oracle reporters and include:
* **Movement limits** (prevents abnormal jumps)
* **Freshness checks** (reject stale data)
* **Timestamp validation** (no future blocks)
* **Reporter authentication** (only authorized oracles can update)
These safeguards ensure PPS reflects *real* performance only.
***
## **Withdrawals - Dual-Path System**
Altura supports two withdrawal paths for user flexibility and protocol stability:
### **Path 1 - Instant Withdrawal**
Executed **immediately** if the withdrawal amount is **≤ the vault’s liquid balance**.
### **Path 2 - Epoch Withdrawal**
If the requested amount **exceeds available liquidity**, the withdrawal enters the current epoch.\
Once the epoch concludes, funds become claimable.
### **Fees**
**Instant: 0.1%**\
**Epoch Withdrawal: 0%**
## **Full Operational Lifecycle**
A simplified overview of the vault lifecycle:
1. User deposits USDT on HyperEVM
2. Vault mints proportional shares
3. PPS updates as strategies generate yield
4. User requests withdrawal
5. Instant withdrawal if liquidity is available
6. Otherwise, processed at epoch end