# Deposit & Redemption Flows

Lagoon vaults use an asynchronous request-then-settle mechanism. Requests batch together and settle at a single valuation point, so everyone in the same cycle gets the same price, which is the standard structure for fund subscriptions in TradFi.

## Deposit flow

```
1. requestDeposit()       User signals intent, USDC moves to the Deposit Silo
        |
2. Valuation Provider     Proposes a NAV to the contract (stored, not applied yet)
        |
3. Curator                Reviews the NAV, approves, calls settleDeposit()
        |
4. claimShares()          User retrieves their vault shares
```

A few things worth knowing:

* USDC sits in the **pending silo** until settlement, it's not in the Curator's hands yet and isn't included in NAV calculations
* The price used for settlement is the NAV approved at step 3, not the price when the request was made
* Curators can claim shares on behalf of users, which allows for automation

**Synchronous mode (optional)**

When enabled, depositors can skip the queue and deposit immediately using the most recent valid valuation. It reduces friction but creates arbitrage exposure if off-chain valuations drift from market reality. The Curator has to manage valuation lifespan carefully to prevent exploitation, so this mode isn't always active.

## Redemption flow

```
1. requestRedeem()        User signals intent, shares move to the Redemption Silo
        |
2. Valuation Provider     Proposes a NAV
        |
3. Curator                Approves NAV, calls settleRedeem()
        |
4. claimAssets()          User retrieves their USDC
```

Two important differences from deposits:

* **Redemptions can't be cancelled** once requested. This exists to prevent users from forcing the Curator to unwind positions on a whim without a legitimate reason.
* Unlike deposits, Curators **can't** claim redemption assets on behalf of users. Each participant has to trigger their own `claimAssets()`.

## Pending silo architecture

Both flows use isolated silo contracts to hold funds during the pending phase. The Deposit Silo holds incoming USDC until `settleDeposit()` runs. The Redemption Silo holds redeemed shares until `settleRedeem()` runs. Pending capital is never mixed with managed positions.

***

*Next:* [*Vault Valuation*](/flintrwa-docs/technical-architecture/vault-valuation.md)


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