> For the complete documentation index, see [llms.txt](https://vaultbook.gauntlet.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://vaultbook.gauntlet.xyz/vaults/morpho-vaults/v2-vaults/roles-and-capabilities.md). # Roles & Capabilities Morpho V2 refines the role structure introduced in V1, providing more precise separation of responsibilities and adding a safety-oriented new role: the Sentinel. The result mirrors how large organizations structure operational oversight, where different functions hold distinct, narrowly scoped permissions. ### The Four V2 Roles **Owner** The Owner sets the Curator and Sentinels, and otherwise sits at the top of the role hierarchy. The Owner does not handle day-to-day curation or risk management. **Curator** The Curator is the risk manager and yield strategist. The Curator configures vault adapters, supply caps, gates, timelocks, and fees. Most Curator actions are timelocked: they are submitted on-chain and can be executed only after the configured waiting period has elapsed. **Allocator** The Allocator oversees vault allocations to underlying markets and vaults, serving as the operational arm that moves capital in accordance with the strategy defined by the Curator. **Sentinel** The Sentinel is a safety-oriented role designed for reactive risk mitigation. It acts as a check on the Curator and can intervene in emergencies. Multiple addresses may hold the Sentinel role on a single vault. ### Suggested Key Setup How each role is typically held depends on the vault's operational profile. The patterns below are starting points, not requirements. **Owner** A secure multisig (for example, 4-of-6) or an institutional-grade MPC wallet. A single externally-owned account is not recommended for production vaults, given the scope of Owner authority. **Curator** A multisig (for example, 2-of-4 or 3-of-5) or an MPC wallet. The Curator submits most changes through timelocks, which gives the Sentinel and depositors a window to react if a Curator key is ever compromised. **Allocator** A smart contract with automated allocation logic, a hot-key EOA operated by a bot, or a fast-response multisig. The Allocator only moves capital within already-approved adapters and caps, so its authority is structurally narrower than the Curator's. **Sentinel** A hot key for fast emergency response, a DAO governance contract, or a trusted third party. Multiple addresses can hold the Sentinel role in a single vault, enabling redundancy and faster response across time zones. ### Why the Sentinel Role Matters The Sentinel is structurally designed so that its actions can only reduce risk or halt pending changes. It can be thought of as a subtractive versus an additive role, as it cannot enable new adapters or increase exposure. A Sentinel can: * Revoke any pending Curator-submitted action before its timelock expires * Deallocate funds from any adapter back to the vault's idle pool * Decrease absolute or relative caps for any Risk ID (instant, no timelock required) A Sentinel cannot: * Enable or disable adapters * Increase caps * Change fees * Set gates * Modify timelocks * Add or remove allocators This narrow capability set is what allows the Sentinel role to be delegated broadly, including to a hot key for fast emergency response, a governance contract, or a trusted third party. If a Sentinel address were ever compromised, the role's permission constraints limit possible actions to those listed above, reducing the downside relative to keys with broader authority. ### Curator Capabilities in Detail The Curator's authority spans most of the vault's configurable surface. Capabilities are grouped below by the area of the vault they affect. Most are gated by a timelock; a smaller set can be executed instantly, all of them in the direction of reducing risk or extending safety windows. **Protocol Management** * **\[Timelocked]** Enable or disable yield sources via Adapters **Risk Curation** * **\[Timelocked]** Increase absolute or relative caps for any Risk ID * **\[Instant]** Decrease absolute or relative caps for any Risk ID **Yield & Fee Management** * **\[Timelocked]** Set the maximum rate at which vault assets can grow * **\[Timelocked]** Set the performance fee and management fee * **\[Timelocked]** Set the performance fee recipient and management fee recipient **Operational Management** * **\[Timelocked]** Add or remove Allocators * **\[Timelocked]** Set Gate contracts for onchain access controls (shares gate, receive-assets gate, send-assets gate) * **\[Timelocked]** Set the penalty for force-deallocate **Timelock Management** * **\[Instant]** Increase the duration of any timelock * **\[Timelocked, 3 weeks]** Decrease the duration of any timelock * **\[Timelocked]** Irreversibly disable a timelocked action (abdicate) Note the difference between "increase timelock" (instant) and "decrease timelock" (3-week timelock): the Curator can always immediately lengthen the safety window, but shortening it requires the longer waiting period. ### Role Capability Comparison The Sentinel is an expansion of the V1 Guardian role, with the same veto power and a broader risk-off toolset. | Action | V1 Guardian | V2 Sentinel | | ------------------------------------ | ----------- | ----------- | | Revoke pending Curator actions | ✓ | ✓ | | Deallocate funds to idle pool | | ✓ | | Decrease caps (instant, no timelock) | | ✓ | --- # Agent Instructions This documentation is published with GitBook. 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