@perena/vault-sdk 1.0.18 → 1.0.19

package/dist/index.js

@@ -1445,6 +1445,7 @@ __export(index_exports, {
   UpdateConsensusSignersBuilder: () => UpdateConsensusSignersBuilder,
   UpdateTrancheConfigBuilder: () => UpdateTrancheConfigBuilder,
   VAULT_CACHE_CATEGORY: () => VAULT_CACHE_CATEGORY,
+  VAULT_CREATOR_WHITELIST: () => VAULT_CREATOR_WHITELIST,
   VAULT_ENVIRONMENTS: () => VAULT_ENVIRONMENTS,
   VAULT_ORACLE_CACHE_CATEGORY: () => VAULT_ORACLE_CACHE_CATEGORY,
   VAULT_PROGRAM_ID: () => VAULT_PROGRAM_ID,
@@ -1511,6 +1512,9 @@ var PROGRAM_FEE_EXEMPT_OWNER_WHITELIST = [
   (0, import_kit.address)("7C39GeKrqLygmgV9D4bicUaiyFhKrX6Eevk6PDACwuj7"),
   (0, import_kit.address)("LYC8YiiSzQfPpxUW2tpxfuPKGZwywAJhXKUfDP2B66f")
 ];
+var VAULT_CREATOR_WHITELIST = [
+  (0, import_kit.address)("11111111111111111111111111111111")
+];
 var TOKEN_PROGRAM_ID = (0, import_kit.address)(
   import_spl_token.TOKEN_2022_PROGRAM_ID.toBase58()
 );
@@ -2990,27 +2994,24 @@ var IDL = {
         {
           "name": "share_mint",
           "docs": [
-            "Curator-supplied share mint. Unless `for_migration`, must have zero supply",
-            "with mint authority on the curator; authority is transferred to the vault",
-            "PDA on success. Migration uses the legacy bank mint and defers transfer."
+            "Curator-supplied share mint. Its decimals must match `asset_mint`.",
+            "Unless `for_migration`, it must have zero supply with mint authority on",
+            "the curator; authority is transferred to the vault PDA on success.",
+            "Migration uses the legacy bank mint and defers transfer."
           ],
           "writable": true
         },
         {
           "name": "asset_mint",
           "docs": [
-            "Base (strict) asset mint. Required in `Strict` mode so the base holding is",
-            "created with the mint's real decimals and token program; omitted in",
-            "`Whitelist` mode."
-          ],
-          "optional": true
+            "Base asset mint used to create the vault's permanent base holding."
+          ]
         },
         {
           "name": "asset_token_program",
           "docs": [
             "Token program owning `asset_mint`."
-          ],
-          "optional": true
+          ]
         },
         {
           "name": "token_program"
@@ -3069,7 +3070,12 @@ var IDL = {
       ],
       "accounts": [
         {
-          "name": "user"
+          "name": "user",
+          "docs": [
+            "Token-account authority. May be a transaction signer or a PDA signer",
+            "supplied by an integrating program through `invoke_signed`."
+          ],
+          "signer": true
         },
         {
           "name": "vault",
@@ -3346,26 +3352,24 @@ var IDL = {
       ]
     },
     {
-      "name": "execute_share_swap",
-      "docs": [
-        "Convert regular vault shares into tranche shares (senior or junior).",
-        "No underlying assets move; the backing simply shifts from the regular",
-        "pool into the selected tranche class."
-      ],
+      "name": "execute_deposit_fee_exempt",
       "discriminator": [
-        127,
-        53,
-        127,
-        156,
-        151,
-        80,
-        135,
-        67
+        99,
+        227,
+        32,
+        27,
+        95,
+        184,
+        49,
+        2
       ],
       "accounts": [
         {
           "name": "user",
-          "writable": true,
+          "docs": [
+            "Token-account authority. May be a transaction signer or a PDA signer",
+            "supplied by an integrating program through `invoke_signed`."
+          ],
           "signer": true
         },
         {
@@ -3377,27 +3381,23 @@ var IDL = {
         },
         {
           "name": "vault_tranche_state",
-          "writable": true
+          "optional": true
         },
         {
-          "name": "share_mint",
+          "name": "asset_mint",
           "docs": [
-            "Regular vault share mint.  The user burns from this."
-          ],
-          "writable": true
+            "Mint being deposited. Must match the vault's asset-mode rule."
+          ]
         },
         {
-          "name": "tranche_share_mint",
+          "name": "share_mint",
           "docs": [
-            "Target tranche share mint (senior or junior, as selected by `kind`)."
+            "Vault's share mint (mint authority = vault PDA)."
           ],
           "writable": true
         },
         {
-          "name": "user_share_ata",
-          "docs": [
-            "User's regular-share ATA (burned from)."
-          ],
+          "name": "user_asset_ata",
           "writable": true,
           "pda": {
             "seeds": [
@@ -3407,11 +3407,11 @@ var IDL = {
               },
               {
                 "kind": "account",
-                "path": "share_token_program"
+                "path": "asset_token_program"
               },
               {
                 "kind": "account",
-                "path": "share_mint"
+                "path": "asset_mint"
               }
             ],
             "program": {
@@ -3454,24 +3454,21 @@ var IDL = {
           }
         },
         {
-          "name": "user_tranche_share_ata",
-          "docs": [
-            "User's tranche-share ATA (minted into, created if absent)."
-          ],
+          "name": "vault_asset_ata",
           "writable": true,
           "pda": {
             "seeds": [
               {
                 "kind": "account",
-                "path": "user"
+                "path": "vault"
               },
               {
                 "kind": "account",
-                "path": "tranche_share_token_program"
+                "path": "asset_token_program"
               },
               {
                 "kind": "account",
-                "path": "tranche_share_mint"
+                "path": "asset_mint"
               }
             ],
             "program": {
@@ -3514,85 +3511,21 @@ var IDL = {
           }
         },
         {
-          "name": "share_token_program",
-          "docs": [
-            "Token program for the regular vault share mint."
-          ]
-        },
-        {
-          "name": "tranche_share_token_program",
+          "name": "fee_vault",
           "docs": [
-            "Token program for the tranche share mint."
-          ]
-        },
-        {
-          "name": "associated_token_program",
-          "address": "ATokenGPvbdGVxr1b2hvZbsiqW5xWH25efTNsLJA8knL"
-        },
-        {
-          "name": "system_program",
-          "address": "11111111111111111111111111111111"
-        }
-      ],
-      "args": [
-        {
-          "name": "kind",
-          "type": {
-            "defined": {
-              "name": "TrancheKind"
-            }
-          }
-        },
-        {
-          "name": "share_amount",
-          "type": "u64"
-        }
-      ]
-    },
-    {
-      "name": "execute_tranche_deposit",
-      "discriminator": [
-        231,
-        224,
-        46,
-        207,
-        175,
-        45,
-        77,
-        148
-      ],
-      "accounts": [
-        {
-          "name": "user",
-          "writable": true,
-          "signer": true
-        },
-        {
-          "name": "vault",
-          "writable": true
-        },
-        {
-          "name": "vault_oracle"
-        },
-        {
-          "name": "vault_tranche_state",
-          "writable": true
-        },
-        {
-          "name": "asset_mint"
-        },
-        {
-          "name": "tranche_share_mint",
+            "Per-vault fee-vault PDA: token authority + accounting. The mint fee",
+            "accrues here and is swept to the fee collector by the permissionless crank."
+          ],
           "writable": true
         },
         {
-          "name": "user_asset_ata",
+          "name": "fee_vault_ata",
           "writable": true,
           "pda": {
             "seeds": [
               {
                 "kind": "account",
-                "path": "user"
+                "path": "fee_vault"
               },
               {
                 "kind": "account",
@@ -3643,21 +3576,21 @@ var IDL = {
           }
         },
         {
-          "name": "vault_asset_ata",
+          "name": "user_share_ata",
           "writable": true,
           "pda": {
             "seeds": [
               {
                 "kind": "account",
-                "path": "vault"
+                "path": "user"
               },
               {
                 "kind": "account",
-                "path": "asset_token_program"
+                "path": "share_token_program"
               },
               {
                 "kind": "account",
-                "path": "asset_mint"
+                "path": "share_mint"
               }
             ],
             "program": {
@@ -3700,29 +3633,92 @@ var IDL = {
           }
         },
         {
-          "name": "fee_vault",
+          "name": "asset_token_program"
+        },
+        {
+          "name": "share_token_program"
+        }
+      ],
+      "args": [
+        {
+          "name": "amount",
+          "type": "u64"
+        },
+        {
+          "name": "signer_seeds",
+          "type": {
+            "vec": "bytes"
+          }
+        }
+      ]
+    },
+    {
+      "name": "execute_share_swap",
+      "docs": [
+        "Convert regular vault shares into tranche shares (senior or junior).",
+        "No underlying assets move; the backing simply shifts from the regular",
+        "pool into the selected tranche class."
+      ],
+      "discriminator": [
+        127,
+        53,
+        127,
+        156,
+        151,
+        80,
+        135,
+        67
+      ],
+      "accounts": [
+        {
+          "name": "user",
+          "writable": true,
+          "signer": true
+        },
+        {
+          "name": "vault",
+          "writable": true
+        },
+        {
+          "name": "vault_oracle"
+        },
+        {
+          "name": "vault_tranche_state",
+          "writable": true
+        },
+        {
+          "name": "share_mint",
           "docs": [
-            "Per-vault fee-vault PDA: token authority + accounting. Mint fees",
-            "accrue here and are swept by the permissionless fee crank."
+            "Regular vault share mint.  The user burns from this."
           ],
           "writable": true
         },
         {
-          "name": "fee_vault_ata",
+          "name": "tranche_share_mint",
+          "docs": [
+            "Target tranche share mint (senior or junior, as selected by `kind`)."
+          ],
+          "writable": true
+        },
+        {
+          "name": "user_share_ata",
+          "docs": [
+            "User's regular-share ATA (burned from)."
+          ],
           "writable": true,
           "pda": {
             "seeds": [
               {
                 "kind": "account",
-                "path": "fee_vault"
+                "path": "user"
               },
               {
                 "kind": "account",
-                "path": "asset_token_program"
+                "path": "share_token_program"
               },
               {
                 "kind": "account",
-                "path": "asset_mint"
+                "path": "share_mint"
               }
             ],
             "program": {
@@ -3766,6 +3762,9 @@ var IDL = {
         },
         {
           "name": "user_tranche_share_ata",
+          "docs": [
+            "User's tranche-share ATA (minted into, created if absent)."
+          ],
           "writable": true,
           "pda": {
             "seeds": [
@@ -3775,7 +3774,7 @@ var IDL = {
               },
               {
                 "kind": "account",
-                "path": "share_token_program"
+                "path": "tranche_share_token_program"
               },
               {
                 "kind": "account",
@@ -3822,10 +3821,16 @@ var IDL = {
           }
         },
         {
-          "name": "asset_token_program"
+          "name": "share_token_program",
+          "docs": [
+            "Token program for the regular vault share mint."
+          ]
         },
         {
-          "name": "share_token_program"
+          "name": "tranche_share_token_program",
+          "docs": [
+            "Token program for the tranche share mint."
+          ]
         },
         {
           "name": "associated_token_program",
@@ -3846,24 +3851,24 @@ var IDL = {
           }
         },
         {
-          "name": "amount",
+          "name": "share_amount",
           "type": "u64"
         }
       ]
     },
     {
-      "name": "execute_tranche_withdraw",
+      "name": "execute_tranche_deposit",
       "discriminator": [
-        240,
-        82,
-        254,
-        246,
-        177,
-        29,
-        57,
-        126
-      ],
-      "accounts": [
+        231,
+        224,
+        46,
+        207,
+        175,
+        45,
+        77,
+        148
+      ],
+      "accounts": [
         {
           "name": "user",
           "writable": true,
@@ -3945,13 +3950,1755 @@ var IDL = {
           }
         },
         {
-          "name": "vault_asset_ata",
+          "name": "vault_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "fee_vault",
+          "docs": [
+            "Per-vault fee-vault PDA: token authority + accounting. Mint fees",
+            "accrue here and are swept by the permissionless fee crank."
+          ],
+          "writable": true
+        },
+        {
+          "name": "fee_vault_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "fee_vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "user_tranche_share_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "share_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "tranche_share_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "asset_token_program"
+        },
+        {
+          "name": "share_token_program"
+        },
+        {
+          "name": "associated_token_program",
+          "address": "ATokenGPvbdGVxr1b2hvZbsiqW5xWH25efTNsLJA8knL"
+        },
+        {
+          "name": "system_program",
+          "address": "11111111111111111111111111111111"
+        }
+      ],
+      "args": [
+        {
+          "name": "kind",
+          "type": {
+            "defined": {
+              "name": "TrancheKind"
+            }
+          }
+        },
+        {
+          "name": "amount",
+          "type": "u64"
+        }
+      ]
+    },
+    {
+      "name": "execute_tranche_deposit_fee_exempt",
+      "discriminator": [
+        202,
+        226,
+        54,
+        182,
+        141,
+        178,
+        91,
+        231
+      ],
+      "accounts": [
+        {
+          "name": "user",
+          "writable": true,
+          "signer": true
+        },
+        {
+          "name": "vault",
+          "writable": true
+        },
+        {
+          "name": "vault_oracle"
+        },
+        {
+          "name": "vault_tranche_state",
+          "writable": true
+        },
+        {
+          "name": "asset_mint"
+        },
+        {
+          "name": "tranche_share_mint",
+          "writable": true
+        },
+        {
+          "name": "user_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "vault_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "fee_vault",
+          "docs": [
+            "Per-vault fee-vault PDA: token authority + accounting. Mint fees",
+            "accrue here and are swept by the permissionless fee crank."
+          ],
+          "writable": true
+        },
+        {
+          "name": "fee_vault_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "fee_vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "user_tranche_share_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "share_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "tranche_share_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "asset_token_program"
+        },
+        {
+          "name": "share_token_program"
+        },
+        {
+          "name": "associated_token_program",
+          "address": "ATokenGPvbdGVxr1b2hvZbsiqW5xWH25efTNsLJA8knL"
+        },
+        {
+          "name": "system_program",
+          "address": "11111111111111111111111111111111"
+        }
+      ],
+      "args": [
+        {
+          "name": "kind",
+          "type": {
+            "defined": {
+              "name": "TrancheKind"
+            }
+          }
+        },
+        {
+          "name": "amount",
+          "type": "u64"
+        },
+        {
+          "name": "signer_seeds",
+          "type": {
+            "vec": "bytes"
+          }
+        }
+      ]
+    },
+    {
+      "name": "execute_tranche_withdraw",
+      "discriminator": [
+        240,
+        82,
+        254,
+        246,
+        177,
+        29,
+        57,
+        126
+      ],
+      "accounts": [
+        {
+          "name": "user",
+          "writable": true,
+          "signer": true
+        },
+        {
+          "name": "vault",
+          "writable": true
+        },
+        {
+          "name": "vault_oracle"
+        },
+        {
+          "name": "vault_tranche_state",
+          "writable": true
+        },
+        {
+          "name": "asset_mint"
+        },
+        {
+          "name": "tranche_share_mint",
+          "writable": true
+        },
+        {
+          "name": "user_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "vault_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "user_tranche_share_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "share_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "tranche_share_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "asset_token_program"
+        },
+        {
+          "name": "share_token_program"
+        },
+        {
+          "name": "associated_token_program",
+          "address": "ATokenGPvbdGVxr1b2hvZbsiqW5xWH25efTNsLJA8knL"
+        },
+        {
+          "name": "system_program",
+          "address": "11111111111111111111111111111111"
+        }
+      ],
+      "args": [
+        {
+          "name": "kind",
+          "type": {
+            "defined": {
+              "name": "TrancheKind"
+            }
+          }
+        },
+        {
+          "name": "share_amount",
+          "type": "u64"
+        }
+      ]
+    },
+    {
+      "name": "execute_tranche_withdraw_fee_exempt",
+      "discriminator": [
+        130,
+        36,
+        243,
+        242,
+        125,
+        2,
+        207,
+        206
+      ],
+      "accounts": [
+        {
+          "name": "user",
+          "writable": true,
+          "signer": true
+        },
+        {
+          "name": "vault",
+          "writable": true
+        },
+        {
+          "name": "vault_oracle"
+        },
+        {
+          "name": "vault_tranche_state",
+          "writable": true
+        },
+        {
+          "name": "asset_mint"
+        },
+        {
+          "name": "tranche_share_mint",
+          "writable": true
+        },
+        {
+          "name": "user_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "vault_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "user_tranche_share_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "share_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "tranche_share_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "asset_token_program"
+        },
+        {
+          "name": "share_token_program"
+        },
+        {
+          "name": "associated_token_program",
+          "address": "ATokenGPvbdGVxr1b2hvZbsiqW5xWH25efTNsLJA8knL"
+        },
+        {
+          "name": "system_program",
+          "address": "11111111111111111111111111111111"
+        }
+      ],
+      "args": [
+        {
+          "name": "kind",
+          "type": {
+            "defined": {
+              "name": "TrancheKind"
+            }
+          }
+        },
+        {
+          "name": "share_amount",
+          "type": "u64"
+        },
+        {
+          "name": "signer_seeds",
+          "type": {
+            "vec": "bytes"
+          }
+        }
+      ]
+    },
+    {
+      "name": "execute_withdraw",
+      "discriminator": [
+        255,
+        93,
+        15,
+        141,
+        187,
+        94,
+        246,
+        162
+      ],
+      "accounts": [
+        {
+          "name": "user",
+          "docs": [
+            "Token-account authority. May be a transaction signer or a PDA signer",
+            "supplied by an integrating program through `invoke_signed`."
+          ],
+          "signer": true
+        },
+        {
+          "name": "vault",
+          "writable": true
+        },
+        {
+          "name": "vault_oracle"
+        },
+        {
+          "name": "vault_tranche_state",
+          "optional": true
+        },
+        {
+          "name": "asset_mint"
+        },
+        {
+          "name": "share_mint",
+          "writable": true
+        },
+        {
+          "name": "user_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "vault_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "fee_vault",
+          "docs": [
+            "Per-vault fee-vault PDA: token authority + accounting. The burn fee accrues",
+            "here and is swept to the fee collector by the permissionless crank."
+          ],
+          "writable": true
+        },
+        {
+          "name": "fee_vault_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "fee_vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "user_share_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "share_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "share_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "asset_token_program"
+        },
+        {
+          "name": "share_token_program"
+        }
+      ],
+      "args": [
+        {
+          "name": "share_amount",
+          "type": "u64"
+        }
+      ]
+    },
+    {
+      "name": "execute_withdraw_fee_exempt",
+      "discriminator": [
+        47,
+        77,
+        139,
+        253,
+        122,
+        181,
+        108,
+        216
+      ],
+      "accounts": [
+        {
+          "name": "user",
+          "docs": [
+            "Token-account authority. May be a transaction signer or a PDA signer",
+            "supplied by an integrating program through `invoke_signed`."
+          ],
+          "signer": true
+        },
+        {
+          "name": "vault",
+          "writable": true
+        },
+        {
+          "name": "vault_oracle"
+        },
+        {
+          "name": "vault_tranche_state",
+          "optional": true
+        },
+        {
+          "name": "asset_mint"
+        },
+        {
+          "name": "share_mint",
+          "writable": true
+        },
+        {
+          "name": "user_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "vault_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "fee_vault",
+          "docs": [
+            "Per-vault fee-vault PDA: token authority + accounting. The burn fee accrues",
+            "here and is swept to the fee collector by the permissionless crank."
+          ],
+          "writable": true
+        },
+        {
+          "name": "fee_vault_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "fee_vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "user_share_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "share_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "share_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "asset_token_program"
+        },
+        {
+          "name": "share_token_program"
+        }
+      ],
+      "args": [
+        {
+          "name": "share_amount",
+          "type": "u64"
+        },
+        {
+          "name": "signer_seeds",
+          "type": {
+            "vec": "bytes"
+          }
+        }
+      ]
+    },
+    {
+      "name": "execute_withdraw_from_external",
+      "discriminator": [
+        91,
+        38,
+        26,
+        250,
+        138,
+        227,
+        18,
+        88
+      ],
+      "accounts": [
+        {
+          "name": "user",
+          "docs": [
+            "Token-account authority. May be a transaction signer or a PDA signer",
+            "supplied by an integrating program through `invoke_signed`."
+          ],
+          "signer": true
+        },
+        {
+          "name": "vault",
+          "writable": true
+        },
+        {
+          "name": "vault_oracle"
+        },
+        {
+          "name": "vault_tranche_state",
+          "optional": true
+        },
+        {
+          "name": "asset_mint"
+        },
+        {
+          "name": "share_mint",
+          "writable": true
+        },
+        {
+          "name": "user_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "vault_asset_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "vault"
+              },
+              {
+                "kind": "account",
+                "path": "asset_token_program"
+              },
+              {
+                "kind": "account",
+                "path": "asset_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "fee_vault",
+          "docs": [
+            "Per-vault fee-vault PDA: token authority + accounting. The burn fee accrues",
+            "here and is swept to the fee collector by the permissionless crank."
+          ],
+          "writable": true
+        },
+        {
+          "name": "fee_vault_ata",
           "writable": true,
           "pda": {
             "seeds": [
               {
                 "kind": "account",
-                "path": "vault"
+                "path": "fee_vault"
               },
               {
                 "kind": "account",
@@ -4002,7 +5749,7 @@ var IDL = {
           }
         },
         {
-          "name": "user_tranche_share_ata",
+          "name": "user_share_ata",
           "writable": true,
           "pda": {
             "seeds": [
@@ -4016,7 +5763,7 @@ var IDL = {
               },
               {
                 "kind": "account",
-                "path": "tranche_share_mint"
+                "path": "share_mint"
               }
             ],
             "program": {
@@ -4063,46 +5810,51 @@ var IDL = {
         },
         {
           "name": "share_token_program"
-        },
-        {
-          "name": "associated_token_program",
-          "address": "ATokenGPvbdGVxr1b2hvZbsiqW5xWH25efTNsLJA8knL"
-        },
-        {
-          "name": "system_program",
-          "address": "11111111111111111111111111111111"
         }
       ],
       "args": [
         {
-          "name": "kind",
+          "name": "share_amount",
+          "type": "u64"
+        },
+        {
+          "name": "external_withdraw_ix_refs",
           "type": {
-            "defined": {
-              "name": "TrancheKind"
+            "option": {
+              "defined": {
+                "name": "InstructionRefs"
+              }
             }
           }
         },
         {
-          "name": "share_amount",
-          "type": "u64"
+          "name": "external_liquidity_source",
+          "type": {
+            "option": "u8"
+          }
         }
       ]
     },
     {
-      "name": "execute_withdraw",
+      "name": "execute_withdraw_from_external_fee_exempt",
       "discriminator": [
-        255,
-        93,
-        15,
-        141,
-        187,
-        94,
-        246,
-        162
+        8,
+        18,
+        138,
+        251,
+        162,
+        172,
+        171,
+        185
       ],
       "accounts": [
         {
-          "name": "user"
+          "name": "user",
+          "docs": [
+            "Token-account authority. May be a transaction signer or a PDA signer",
+            "supplied by an integrating program through `invoke_signed`."
+          ],
+          "signer": true
         },
         {
           "name": "vault",
@@ -4369,24 +6121,55 @@ var IDL = {
         {
           "name": "share_amount",
           "type": "u64"
+        },
+        {
+          "name": "external_withdraw_ix_refs",
+          "type": {
+            "option": {
+              "defined": {
+                "name": "InstructionRefs"
+              }
+            }
+          }
+        },
+        {
+          "name": "external_liquidity_source",
+          "type": {
+            "option": "u8"
+          }
+        },
+        {
+          "name": "signer_seeds",
+          "type": {
+            "vec": "bytes"
+          }
         }
       ]
     },
     {
-      "name": "execute_withdraw_from_external",
+      "name": "fulfill_junior_tranche_withdraw",
       "discriminator": [
-        91,
-        38,
-        26,
-        250,
-        138,
-        227,
-        18,
-        88
+        127,
+        229,
+        153,
+        168,
+        116,
+        50,
+        248,
+        103
       ],
       "accounts": [
         {
-          "name": "user"
+          "name": "signer",
+          "writable": true,
+          "signer": true
+        },
+        {
+          "name": "owner"
+        },
+        {
+          "name": "queue_payer",
+          "writable": true
         },
         {
           "name": "vault",
@@ -4397,23 +6180,31 @@ var IDL = {
         },
         {
           "name": "vault_tranche_state",
-          "optional": true
+          "writable": true
         },
         {
-          "name": "asset_mint"
+          "name": "withdrawal_queue",
+          "writable": true
         },
         {
-          "name": "share_mint",
+          "name": "output_mint"
+        },
+        {
+          "name": "input_mint",
           "writable": true
         },
         {
-          "name": "user_asset_ata",
+          "name": "owner_input_ata",
+          "writable": true
+        },
+        {
+          "name": "owner_output_ata",
           "writable": true,
           "pda": {
             "seeds": [
               {
                 "kind": "account",
-                "path": "user"
+                "path": "owner"
               },
               {
                 "kind": "account",
@@ -4421,7 +6212,7 @@ var IDL = {
               },
               {
                 "kind": "account",
-                "path": "asset_mint"
+                "path": "output_mint"
               }
             ],
             "program": {
@@ -4464,7 +6255,7 @@ var IDL = {
           }
         },
         {
-          "name": "vault_asset_ata",
+          "name": "vault_output_ata",
           "writable": true,
           "pda": {
             "seeds": [
@@ -4478,7 +6269,7 @@ var IDL = {
               },
               {
                 "kind": "account",
-                "path": "asset_mint"
+                "path": "output_mint"
               }
             ],
             "program": {
@@ -4521,21 +6312,16 @@ var IDL = {
           }
         },
         {
-          "name": "fee_vault",
-          "docs": [
-            "Per-vault fee-vault PDA: token authority + accounting. The burn fee accrues",
-            "here and is swept to the fee collector by the permissionless crank."
-          ],
-          "writable": true
+          "name": "fee_collector"
         },
         {
-          "name": "fee_vault_ata",
+          "name": "fee_collector_output_ata",
           "writable": true,
           "pda": {
             "seeds": [
               {
                 "kind": "account",
-                "path": "fee_vault"
+                "path": "fee_collector"
               },
               {
                 "kind": "account",
@@ -4543,7 +6329,7 @@ var IDL = {
               },
               {
                 "kind": "account",
-                "path": "asset_mint"
+                "path": "output_mint"
               }
             ],
             "program": {
@@ -4586,13 +6372,13 @@ var IDL = {
           }
         },
         {
-          "name": "user_share_ata",
+          "name": "queue_input_ata",
           "writable": true,
           "pda": {
             "seeds": [
               {
                 "kind": "account",
-                "path": "user"
+                "path": "withdrawal_queue"
               },
               {
                 "kind": "account",
@@ -4600,7 +6386,7 @@ var IDL = {
               },
               {
                 "kind": "account",
-                "path": "share_mint"
+                "path": "input_mint"
               }
             ],
             "program": {
@@ -4647,42 +6433,29 @@ var IDL = {
         },
         {
           "name": "share_token_program"
-        }
-      ],
-      "args": [
-        {
-          "name": "share_amount",
-          "type": "u64"
         },
         {
-          "name": "external_withdraw_ix_refs",
-          "type": {
-            "option": {
-              "defined": {
-                "name": "InstructionRefs"
-              }
-            }
-          }
+          "name": "associated_token_program",
+          "address": "ATokenGPvbdGVxr1b2hvZbsiqW5xWH25efTNsLJA8knL"
         },
         {
-          "name": "external_liquidity_source",
-          "type": {
-            "option": "u8"
-          }
+          "name": "system_program",
+          "address": "11111111111111111111111111111111"
         }
-      ]
+      ],
+      "args": []
     },
     {
-      "name": "fulfill_junior_tranche_withdraw",
+      "name": "fulfill_junior_tranche_withdraw_fee_exempt",
       "discriminator": [
-        127,
-        229,
-        153,
-        168,
-        116,
-        50,
-        248,
-        103
+        148,
+        163,
+        159,
+        43,
+        165,
+        131,
+        51,
+        85
       ],
       "accounts": [
         {
@@ -4969,7 +6742,14 @@ var IDL = {
           "address": "11111111111111111111111111111111"
         }
       ],
-      "args": []
+      "args": [
+        {
+          "name": "signer_seeds",
+          "type": {
+            "vec": "bytes"
+          }
+        }
+      ]
     },
     {
       "name": "get_nav",
@@ -5243,6 +7023,10 @@ var IDL = {
           ],
           "writable": true,
           "optional": true
+        },
+        {
+          "name": "vault_tranche_state",
+          "optional": true
         }
       ],
       "args": [
@@ -5627,12 +7411,39 @@ var IDL = {
           "name": "idle_bank_mint",
           "writable": true
         },
+        {
+          "name": "idle_bank_tranche",
+          "docs": [
+            "path rejects initialized state because it cannot represent junior claims."
+          ],
+          "pda": {
+            "seeds": [
+              {
+                "kind": "const",
+                "value": [
+                  84,
+                  82,
+                  65,
+                  78,
+                  67,
+                  72,
+                  69
+                ]
+              },
+              {
+                "kind": "account",
+                "path": "idle_bank_state"
+              }
+            ]
+          }
+        },
         {
           "name": "idle_vault",
           "writable": true
         },
         {
           "name": "idle_vault_oracle",
+          "writable": true,
           "pda": {
             "seeds": [
               {
@@ -5737,7 +7548,24 @@ var IDL = {
         },
         {
           "name": "yielding_bank_state",
-          "writable": true
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "const",
+                "value": [
+                  66,
+                  65,
+                  78,
+                  75
+                ]
+              },
+              {
+                "kind": "account",
+                "path": "yielding_bank_state"
+              }
+            ]
+          }
         },
         {
           "name": "yielding_bank_mint",
@@ -5745,7 +7573,9 @@ var IDL = {
         },
         {
           "name": "yielding_bank_tranche",
-          "optional": true,
+          "docs": [
+            "state so an active senior-price regime cannot be hidden by omission."
+          ],
           "pda": {
             "seeds": [
               {
@@ -5860,7 +7690,8 @@ var IDL = {
           "writable": true
         },
         {
-          "name": "destination_vault_oracle"
+          "name": "destination_vault_oracle",
+          "writable": true
         },
         {
           "name": "destination_vault_asset_ata",
@@ -5920,12 +7751,43 @@ var IDL = {
           }
         },
         {
-          "name": "vault_tranche_state",
-          "writable": true,
-          "optional": true
+          "name": "vault_tranche_state",
+          "docs": [
+            "be initialized and consistent with destination.tranching_enabled."
+          ],
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "const",
+                "value": [
+                  118,
+                  97,
+                  117,
+                  108,
+                  116,
+                  95,
+                  116,
+                  114,
+                  97,
+                  110,
+                  99,
+                  104,
+                  101
+                ]
+              },
+              {
+                "kind": "account",
+                "path": "destination_vault"
+              }
+            ]
+          }
+        },
+        {
+          "name": "yielding_token_program"
         },
         {
-          "name": "yielding_token_program"
+          "name": "idle_bank_mint_token_program"
         },
         {
           "name": "bank_mint_token_program"
@@ -6187,8 +8049,10 @@ var IDL = {
         },
         {
           "name": "tranche_state",
+          "docs": [
+            "initialized TrancheState from an empty, uninitialized PDA."
+          ],
           "writable": true,
-          "optional": true,
           "pda": {
             "seeds": [
               {
@@ -6212,106 +8076,61 @@ var IDL = {
         },
         {
           "name": "junior_escrow_ata",
+          "docs": [
+            "authority, and balance are validated before any migration mutation."
+          ],
+          "writable": true
+        },
+        {
+          "name": "vault_tranche_state",
+          "docs": [
+            "initialized/uninitialized state against destination.tranching_enabled."
+          ],
           "writable": true,
-          "optional": true,
           "pda": {
             "seeds": [
-              {
-                "kind": "account",
-                "path": "tranche_state"
-              },
               {
                 "kind": "const",
                 "value": [
-                  6,
-                  221,
-                  246,
-                  225,
-                  215,
-                  101,
-                  161,
-                  147,
-                  217,
-                  203,
-                  225,
-                  70,
-                  206,
-                  235,
-                  121,
-                  172,
-                  28,
-                  180,
-                  133,
-                  237,
+                  118,
+                  97,
+                  117,
+                  108,
+                  116,
                   95,
-                  91,
-                  55,
-                  145,
-                  58,
-                  140,
-                  245,
-                  133,
-                  126,
-                  255,
-                  0,
-                  169
+                  116,
+                  114,
+                  97,
+                  110,
+                  99,
+                  104,
+                  101
                 ]
               },
               {
                 "kind": "account",
-                "path": "bank_mint"
+                "path": "destination_vault"
               }
-            ],
-            "program": {
-              "kind": "const",
-              "value": [
-                140,
-                151,
-                37,
-                143,
-                78,
-                36,
-                137,
-                241,
-                187,
-                61,
-                16,
-                41,
-                20,
-                142,
-                13,
-                131,
-                11,
-                90,
-                19,
-                153,
-                218,
-                255,
-                16,
-                132,
-                4,
-                142,
-                123,
-                216,
-                219,
-                233,
-                248,
-                89
-              ]
-            }
+            ]
           }
         },
         {
-          "name": "vault_tranche_state",
-          "writable": true,
+          "name": "junior_share_mint",
+          "optional": true
+        },
+        {
+          "name": "locked_junior_shares_ata",
+          "docs": [
+            "withdrawals. Required and fully validated when the source tranche exists;",
+            "absent for a bank that never initialized a legacy tranche."
+          ],
           "optional": true
         },
         {
           "name": "yielding_token_program"
         },
         {
-          "name": "bank_token_program",
-          "optional": true
+          "name": "bank_token_program"
         },
         {
           "name": "associated_token_program",
@@ -7200,13 +9019,133 @@ var IDL = {
           "writable": true
         },
         {
-          "name": "user_bank_mint_ata",
+          "name": "user_bank_mint_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "token_program"
+              },
+              {
+                "kind": "account",
+                "path": "bank_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "user_junior_mint_ata",
+          "docs": [
+            "User's ATA for receiving junior share tokens"
+          ],
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "user"
+              },
+              {
+                "kind": "account",
+                "path": "token_program"
+              },
+              {
+                "kind": "account",
+                "path": "junior_mint"
+              }
+            ],
+            "program": {
+              "kind": "const",
+              "value": [
+                140,
+                151,
+                37,
+                143,
+                78,
+                36,
+                137,
+                241,
+                187,
+                61,
+                16,
+                41,
+                20,
+                142,
+                13,
+                131,
+                11,
+                90,
+                19,
+                153,
+                218,
+                255,
+                16,
+                132,
+                4,
+                142,
+                123,
+                216,
+                219,
+                233,
+                248,
+                89
+              ]
+            }
+          }
+        },
+        {
+          "name": "junior_escrow_ata",
+          "docs": [
+            "The escrow ATA for staked bank mint tokens, owned by the tranche state PDA"
+          ],
           "writable": true,
           "pda": {
             "seeds": [
               {
                 "kind": "account",
-                "path": "user"
+                "path": "tranche_state"
               },
               {
                 "kind": "account",
@@ -7257,16 +9196,96 @@ var IDL = {
           }
         },
         {
-          "name": "user_junior_mint_ata",
-          "docs": [
-            "User's ATA for receiving junior share tokens"
-          ],
+          "name": "system_program",
+          "address": "11111111111111111111111111111111"
+        },
+        {
+          "name": "token_program"
+        },
+        {
+          "name": "associated_token_program",
+          "address": "ATokenGPvbdGVxr1b2hvZbsiqW5xWH25efTNsLJA8knL"
+        }
+      ],
+      "args": [
+        {
+          "name": "amount",
+          "type": "u64"
+        }
+      ]
+    },
+    {
+      "name": "sweep_legacy_junior_escrow_excess",
+      "discriminator": [
+        66,
+        219,
+        143,
+        146,
+        126,
+        14,
+        138,
+        156
+      ],
+      "accounts": [
+        {
+          "name": "manager",
           "writable": true,
+          "signer": true
+        },
+        {
+          "name": "bank_state",
           "pda": {
             "seeds": [
+              {
+                "kind": "const",
+                "value": [
+                  66,
+                  65,
+                  78,
+                  75
+                ]
+              },
               {
                 "kind": "account",
-                "path": "user"
+                "path": "bank_state"
+              }
+            ]
+          }
+        },
+        {
+          "name": "tranche_state",
+          "pda": {
+            "seeds": [
+              {
+                "kind": "const",
+                "value": [
+                  84,
+                  82,
+                  65,
+                  78,
+                  67,
+                  72,
+                  69
+                ]
+              },
+              {
+                "kind": "account",
+                "path": "bank_state"
+              }
+            ]
+          }
+        },
+        {
+          "name": "bank_mint"
+        },
+        {
+          "name": "junior_escrow_ata",
+          "writable": true,
+          "pda": {
+            "seeds": [
+              {
+                "kind": "account",
+                "path": "tranche_state"
               },
               {
                 "kind": "account",
@@ -7274,7 +9293,7 @@ var IDL = {
               },
               {
                 "kind": "account",
-                "path": "junior_mint"
+                "path": "bank_mint"
               }
             ],
             "program": {
@@ -7317,16 +9336,13 @@ var IDL = {
           }
         },
         {
-          "name": "junior_escrow_ata",
-          "docs": [
-            "The escrow ATA for staked bank mint tokens, owned by the tranche state PDA"
-          ],
+          "name": "destination_ata",
           "writable": true,
           "pda": {
             "seeds": [
               {
                 "kind": "account",
-                "path": "tranche_state"
+                "path": "manager"
               },
               {
                 "kind": "account",
@@ -7376,24 +9392,19 @@ var IDL = {
             }
           }
         },
-        {
-          "name": "system_program",
-          "address": "11111111111111111111111111111111"
-        },
         {
           "name": "token_program"
         },
         {
           "name": "associated_token_program",
           "address": "ATokenGPvbdGVxr1b2hvZbsiqW5xWH25efTNsLJA8knL"
-        }
-      ],
-      "args": [
+        },
         {
-          "name": "amount",
-          "type": "u64"
+          "name": "system_program",
+          "address": "11111111111111111111111111111111"
         }
-      ]
+      ],
+      "args": []
     },
     {
       "name": "team_withdraws_fees",
@@ -7701,8 +9712,10 @@ var IDL = {
         },
         {
           "name": "tranche_state",
-          "writable": true,
-          "optional": true,
+          "docs": [
+            "for a source bank that never enabled tranching; the handler verifies its",
+            "owner and deserializes it when it exists."
+          ],
           "pda": {
             "seeds": [
               {
@@ -7724,6 +9737,20 @@ var IDL = {
             ]
           }
         },
+        {
+          "name": "junior_escrow_ata",
+          "docs": [
+            "from the source bank mint and token program, then validates and requires an",
+            "empty token account whenever the source tranche exists."
+          ]
+        },
+        {
+          "name": "locked_junior_shares_ata",
+          "docs": [
+            "when transferring the junior receipt mint authority."
+          ],
+          "optional": true
+        },
         {
           "name": "vault_tranche_state",
           "writable": true,
@@ -7731,6 +9758,13 @@ var IDL = {
         },
         {
           "name": "token_program"
+        },
+        {
+          "name": "bank_token_program",
+          "docs": [
+            "Token program that owns the legacy bank mint and junior escrow. This can",
+            "differ from `token_program` when transferring the junior receipt mint."
+          ]
         }
       ],
       "args": [
@@ -8410,6 +10444,22 @@ var IDL = {
         {
           "name": "system_program",
           "address": "11111111111111111111111111111111"
+        },
+        {
+          "name": "vault_oracle",
+          "docs": [
+            "Required when enabling tranching organically (`for_migration == false`)",
+            "on a vault that still has main shareholders accruing fixed APY: that APY",
+            "is only folded into `mint_share_price` while tranching is off, so a fresh",
+            "NAV must have been settled just before the switch or the accrued APY owed",
+            "to those shareholders is forfeited. Not needed on the migration path,",
+            "whose accounting is reconstructed wholesale from the legacy state.",
+            "",
+            "Kept LAST (a trailing optional account) so legacy clients that predate it",
+            "\u2014 e.g. the migration path building against the frozen bankineco IDL \u2014",
+            "simply omit it and the program reads it as `None`."
+          ],
+          "optional": true
         }
       ],
       "args": [
@@ -8584,6 +10634,14 @@ var IDL = {
         {
           "name": "system_program",
           "address": "11111111111111111111111111111111"
+        },
+        {
+          "name": "source_vault_tranche_state",
+          "optional": true
+        },
+        {
+          "name": "destination_vault_tranche_state",
+          "optional": true
         }
       ],
       "args": [
@@ -8967,239 +11025,219 @@ var IDL = {
   ],
   "errors": [
     {
-      "code": 14001,
-      "name": "Unauthorized",
-      "msg": "You are not authorized to perform this action."
+      "code": 6e3,
+      "name": "MintSupplyNonZero",
+      "msg": "Supplied share mint already has non-zero supply"
     },
     {
-      "code": 14002,
-      "name": "InvalidBankMint",
-      "msg": "Invalid mint"
+      "code": 6001,
+      "name": "InvalidAssetMint",
+      "msg": "Supplied mint is not accepted by this vault"
     },
     {
-      "code": 14003,
-      "name": "AccountingIssue",
-      "msg": "Accounting issue"
+      "code": 6002,
+      "name": "ZeroDepositAmount",
+      "msg": "Deposit amount must be greater than zero"
     },
     {
-      "code": 14004,
-      "name": "VaultAccountingIssue",
-      "msg": "Vault accounting issue"
+      "code": 6003,
+      "name": "ExceedsTvlLimit",
+      "msg": "Deposit would exceed the vault's TVL limit"
     },
     {
-      "code": 14005,
-      "name": "BankAccountingIssue",
-      "msg": "Bank accounting issue"
+      "code": 6004,
+      "name": "ZeroBurnAmount",
+      "msg": "Burn amount must be greater than zero"
     },
     {
-      "code": 14006,
-      "name": "OnchainAccountingIssue",
-      "msg": "Onchain accounting issue"
+      "code": 6005,
+      "name": "ZeroAssetAmount",
+      "msg": "Asset amount must be greater than zero"
     },
     {
-      "code": 14007,
-      "name": "ExternalAccountingIssue",
-      "msg": "External accounting issue"
+      "code": 6006,
+      "name": "InsufficientVaultLiquidity",
+      "msg": "Insufficient vault liquidity to satisfy withdrawal"
     },
     {
-      "code": 14008,
-      "name": "MintSlippage",
-      "msg": "Minting failed due to slippage."
+      "code": 6007,
+      "name": "MintAuthorityNotCurator",
+      "msg": "Mint authority is not the curator"
     },
     {
-      "code": 14009,
-      "name": "BurningSlippage",
-      "msg": "Burning failed due to slippage."
+      "code": 6008,
+      "name": "ZeroTotalSupply",
+      "msg": "Vault total supply is zero"
     },
     {
-      "code": 14010,
-      "name": "TeamAccountAlreadyExists",
-      "msg": "Team account already exists"
-    },
-    {
-      "code": 14011,
-      "name": "OracleAccountAlreadyExists",
-      "msg": "Oracle account already exists"
-    },
-    {
-      "code": 14012,
+      "code": 6009,
       "name": "StaleOracle",
-      "msg": "Stale oracle"
-    },
-    {
-      "code": 14013,
-      "name": "LocalSignificantPriceChange",
-      "msg": "Price change is too large locally"
-    },
-    {
-      "code": 14014,
-      "name": "SignificantPriceChange",
-      "msg": "Price change is too large"
+      "msg": "Vault oracle is stale"
     },
     {
-      "code": 14015,
-      "name": "RoundingImpact",
-      "msg": "Rounding impacts the protocol"
+      "code": 6010,
+      "name": "InvalidOracleUpdate",
+      "msg": "Invalid oracle update"
     },
     {
-      "code": 14016,
-      "name": "BankIsHalted",
-      "msg": "Bank is halted"
+      "code": 6011,
+      "name": "InvalidInitialMintSharePrice",
+      "msg": "Initial mint share price must be greater than zero"
     },
     {
-      "code": 14017,
-      "name": "VaultIsHalted",
-      "msg": "Vault is halted"
+      "code": 6012,
+      "name": "MaxApyExceeded",
+      "msg": "Oracle NAV update exceeds the vault's maximum acceptable APY"
     },
     {
-      "code": 14018,
-      "name": "ConversionOverflow",
-      "msg": "Conversion Overflow"
+      "code": 6013,
+      "name": "InvalidApyConfig",
+      "msg": "Invalid APY configuration"
     },
     {
-      "code": 14019,
-      "name": "_Reserved8019",
-      "msg": "Reserved"
+      "code": 6014,
+      "name": "InvalidFeeConfig",
+      "msg": "Invalid fee configuration"
     },
     {
-      "code": 14020,
-      "name": "InvalidArgument",
-      "msg": "Invalid argument"
+      "code": 6015,
+      "name": "VaultHasLiveAssets",
+      "msg": "Vault has live supply, TVL, or holdings"
     },
     {
-      "code": 14021,
-      "name": "UserSanityCheck",
-      "msg": "User Sanity Check"
+      "code": 6016,
+      "name": "DepositMintsZeroShares",
+      "msg": "Deposit would mint zero shares"
     },
     {
-      "code": 14022,
-      "name": "MathOverflow",
-      "msg": "Math overflow"
+      "code": 6017,
+      "name": "InsufficientAccruedApyBalance",
+      "msg": "Insufficient accrued APY balance"
     },
     {
-      "code": 14023,
-      "name": "InvalidMarginFiAccount",
-      "msg": "Invalid MarginFi account - must be correct PDA for this vault"
+      "code": 6018,
+      "name": "InvalidRole",
+      "msg": "Invalid role configuration"
     },
     {
-      "code": 14024,
-      "name": "InvalidStartMarker",
-      "msg": "Invalid start marker"
+      "code": 6019,
+      "name": "InvalidProtocolInteraction",
+      "msg": "Invalid protocol interaction CPI"
     },
     {
-      "code": 14025,
-      "name": "OracleUpdateOnEmptyReserve",
-      "msg": "Unable to push oracle update on an empty vault reserve"
+      "code": 6020,
+      "name": "_Reserved7020",
+      "msg": "Reserved"
     },
     {
-      "code": 14026,
-      "name": "InvalidRemainingAccountsLength",
-      "msg": "Invalid remaining accounts length"
+      "code": 6021,
+      "name": "InvalidExternalLiquidity",
+      "msg": "Invalid external liquidity configuration"
     },
     {
-      "code": 14027,
-      "name": "WithdrawalExceedsBalance",
-      "msg": "Specified withdrawal exceeds available balance"
+      "code": 6022,
+      "name": "SwapBalanceUnchanged",
+      "msg": "Swap did not change both source and destination balances"
     },
     {
-      "code": 14028,
-      "name": "InsufficientPendingYield",
-      "msg": "Insufficient pending yield"
+      "code": 6023,
+      "name": "ProtocolBalanceUnchanged",
+      "msg": "Protocol interaction did not change the affected token balance"
     },
     {
-      "code": 14029,
-      "name": "NotSupported",
-      "msg": "Not supported"
+      "code": 6024,
+      "name": "ExcessiveSwapSlippage",
+      "msg": "Swap TVL loss exceeds the allowed slippage"
     },
     {
-      "code": 14030,
-      "name": "ExceedsMaxYieldingTvl",
-      "msg": "Exceeds maximum yielding TVL"
+      "code": 6025,
+      "name": "TranchingNotEnabled",
+      "msg": "Vault tranching is not enabled"
     },
     {
-      "code": 14031,
-      "name": "TranchingNotEnabled",
-      "msg": "Tranching is not enabled for this bank"
+      "code": 6026,
+      "name": "TranchingAlreadyEnabled",
+      "msg": "Vault tranching is already enabled"
     },
     {
-      "code": 14032,
-      "name": "InvalidLeverageFactor",
-      "msg": "Invalid leverage factor - must be at least 10000 (1x)"
+      "code": 6027,
+      "name": "TrancheStateRequired",
+      "msg": "Tranche state account is required"
     },
     {
-      "code": 14033,
-      "name": "InsufficientStakedAmount",
-      "msg": "Insufficient staked amount"
+      "code": 6028,
+      "name": "InvalidTrancheConfig",
+      "msg": "Invalid tranche configuration"
     },
     {
-      "code": 14034,
-      "name": "JuniorTrancheEmpty",
-      "msg": "Junior tranche has no value"
+      "code": 6029,
+      "name": "InvalidTrancheMint",
+      "msg": "Invalid tranche mint"
     },
     {
-      "code": 14035,
-      "name": "InvalidTrancheConfig",
-      "msg": "Invalid tranche config parameter"
+      "code": 6030,
+      "name": "LossesDisabled",
+      "msg": "Vault losses are not enabled"
     },
     {
-      "code": 14036,
+      "code": 6031,
       "name": "WithdrawalQueueNotExpired",
-      "msg": "Withdrawal queue lockup period has not expired"
+      "msg": "Withdrawal queue is not yet expired"
     },
     {
-      "code": 14037,
+      "code": 6032,
       "name": "InvalidWithdrawalQueue",
-      "msg": "Withdrawal queue entry is not in a valid state"
+      "msg": "Invalid withdrawal queue"
     },
     {
-      "code": 14038,
-      "name": "InvalidAccount",
-      "msg": "Account does not belong to the expected parent"
+      "code": 6033,
+      "name": "AssetPriceNotSet",
+      "msg": "Destination asset has no price set; a consensus oracle price is required before swapping"
     },
     {
-      "code": 14039,
-      "name": "MissingAccount",
-      "msg": "Required optional account is missing"
+      "code": 6034,
+      "name": "AssetHoldingNotEmpty",
+      "msg": "Asset holding still has a balance and cannot be removed"
     },
     {
-      "code": 14040,
-      "name": "TrancheWipedOut",
-      "msg": "Junior tranche is wiped out and cannot accept new stakes"
+      "code": 6035,
+      "name": "CannotRemoveBaseHolding",
+      "msg": "The base asset holding cannot be removed"
     },
     {
-      "code": 14041,
-      "name": "VaultLossNotAccepted",
-      "msg": "Vault does not accept losses \u2014 enable losses_accepted before retrying"
+      "code": 6036,
+      "name": "UnauthorizedPriceUpdater",
+      "msg": "Caller is not authorized to trigger an asset price update"
     },
     {
-      "code": 14042,
-      "name": "CapitalLossExceedsReserve",
-      "msg": "Capital loss exceeds available yielding reserve"
+      "code": 6037,
+      "name": "InvalidStalenessConfig",
+      "msg": "Invalid asset-price staleness threshold"
     },
     {
-      "code": 14043,
-      "name": "RollingWithdrawalLimitExceeded",
-      "msg": "Rolling withdrawal limit exceeded"
+      "code": 6038,
+      "name": "AssetRebalanceRateLimitExceeded",
+      "msg": "Asset was rebalanced too recently"
     },
     {
-      "code": 14044,
-      "name": "VaultAlreadyMigrated",
-      "msg": "Legacy vault has already been migrated"
+      "code": 6039,
+      "name": "InvalidShareTokenProgram",
+      "msg": "Share token program does not match the vault/tranche mint configuration"
     },
     {
-      "code": 14045,
-      "name": "InvalidMigrationState",
-      "msg": "Legacy vault migration is incomplete or invalid"
+      "code": 6040,
+      "name": "UnauthorizedVaultCreator",
+      "msg": "Caller is not on the vault-creator whitelist"
     },
     {
-      "code": 14046,
-      "name": "InvalidMigrationMintAuthority",
-      "msg": "Mint authority does not match the expected migration source"
+      "code": 6041,
+      "name": "InvalidShareMintDecimals",
+      "msg": "Share mint decimals must match the deposit asset mint decimals"
     },
     {
-      "code": 14047,
-      "name": "BankMigrationIncomplete",
-      "msg": "Bank migration is incomplete \u2014 yielding TVL must be zero before main mint authority transfer"
+      "code": 6042,
+      "name": "InvalidFeeExemption",
+      "msg": "Invalid fee-exemption PDA signer or seeds"
     }
   ],
   "types": [
@@ -9208,7 +11246,7 @@ var IDL = {
       "docs": [
         "APY targets and deficit tracking.",
         "",
-        "Expected share price at time `t` is computed from the anchor:",
+        "Expected share price at time `t` is computed from the durable anchor:",
         "expected = anchor_share_price * (1 + fixed_apy_bps/10_000)^((t - anchor_ts)/YEAR)",
         "",
         "The anchor must be reset whenever any of the following change:",
@@ -9271,16 +11309,15 @@ var IDL = {
           {
             "name": "accrued_apy_balance",
             "docs": [
-              "Realised performance balance, carried across re-anchors. A TVL-",
-              "denominated amount (same accounting unit as `VaultAccounting::tvl`):",
-              "positive = banked surplus credit available to cover future fixed-APY",
-              "deficits.",
+              "Current divergence between holdings-derived NAV and the fixed-APY target,",
+              "in the same accounting unit as `VaultAccounting::tvl`: positive means",
+              "holdings are above target; negative means they are below target.",
               "",
               "Used in two cases:",
               "",
               "1. APY tracking when `fixed_apy_bps` is set -- the",
-              "delta between expected share price (from the anchor + fixed APY) and",
-              "actual share price feeds in here on each settlement.",
+              "difference between expected NAV and actual holdings-derived NAV is",
+              "recorded here on each settlement.",
               "2. NAV reconciliation regardless of APY settings -- when the oracle's",
               "settled NAV diverges from the booked `VaultAccounting::tvl`, the",
               "difference accrues here (oracle NAV above book = surplus; below =",
@@ -11344,11 +13381,10 @@ var IDL = {
             }
           },
           {
-            "name": "apy_settle_skip",
+            "name": "_padding_bool",
             "docs": [
-              "Set when a holding is first priced (price 0 -> non-zero) by an oracle",
-              "update; consumed by the next `crank_nav` to skip the realized-APY guard",
-              "for that settlement (first-pricing legitimately moves NAV). Was padding."
+              "Reserved padding (previously `apy_settle_skip`). Kept as a field to",
+              "preserve the on-chain account layout for already-deployed vaults."
             ],
             "type": {
               "defined": {
@@ -11629,10 +13665,6 @@ var IDL = {
             ],
             "type": "pubkey"
           },
-          {
-            "name": "asset_decimals",
-            "type": "u8"
-          },
           {
             "name": "mint_fee_bps",
             "type": "u16"
@@ -12306,12 +14338,24 @@ var IDL = {
             "name": "protocol_fees_accrued",
             "type": "u64"
           },
+          {
+            "name": "hwm_share_price",
+            "docs": [
+              "High-water mark for this class's performance fee, in the same fixed-point",
+              "units as `share_price`. Only share-price growth above this mark is charged",
+              'a performance/protocol fee. `0` means "not yet initialized" and is lazily',
+              "set to the current share price on the next settlement (so pre-existing",
+              "accounts never retroactively pay on gains earned before this field",
+              "existed). Only the junior class charges a fee; senior is exempt."
+            ],
+            "type": "u64"
+          },
           {
             "name": "_padding1",
             "type": {
               "array": [
                 "u64",
-                14
+                13
               ]
             }
           }
@@ -12440,7 +14484,21 @@ var IDL = {
           {
             "name": "last_settled_ts",
             "docs": [
-              "Last timestamp used for senior fixed-APY entitlement accrual."
+              "Last NAV settlement timestamp."
+            ],
+            "type": "i64"
+          },
+          {
+            "name": "senior_apy_anchor_share_price",
+            "docs": [
+              "Senior share price at the start of the current APY regime."
+            ],
+            "type": "u64"
+          },
+          {
+            "name": "senior_apy_anchor_ts",
+            "docs": [
+              "Unix timestamp when the senior APY anchor was set."
             ],
             "type": "i64"
           },
@@ -12449,7 +14507,7 @@ var IDL = {
             "type": {
               "array": [
                 "u64",
-                31
+                29
               ]
             }
           }
@@ -12691,8 +14749,8 @@ var IDL = {
             "name": "hwm_share_price",
             "docs": [
               "High-water mark for the performance fee. Only share-price growth above",
-              "this value is fee-eligible; monotonically increasing and never reset",
-              "on fee changes (resetting would be a giveback to the curator)."
+              "this value is fee-eligible. Fee-rate changes re-anchor it to the current",
+              "share price so the new rate does not apply retroactively."
             ],
             "type": "u64"
           },
@@ -13360,7 +15418,11 @@ var VaultQuoteClient = class {
       this.account.fetchVault(args.vault, { fresh: args.fresh }),
       this.fetchSignerOwner(args.signer)
     ]);
-    const feeExempt = this.isFeeExemptSignerOwner(signerOwner);
+    const feeExempt = this.isFeeExemptSigner(
+      args.signer,
+      signerOwner,
+      args.addressSeeds
+    );
     if (args.shareClass === "regular") {
       return this.quoteRegular(args, vault, signerOwner, feeExempt);
     }
@@ -13371,12 +15433,21 @@ var VaultQuoteClient = class {
     const info = await this.connection.getAccountInfo(new import_web32.PublicKey(signer), "confirmed").catch(() => null);
     return info ? (0, import_kit4.address)(info.owner.toBase58()) : null;
   }
-  isFeeExemptSignerOwner(owner) {
-    if (!owner) return false;
+  isFeeExemptSigner(signer, owner, seeds) {
+    if (!owner || !seeds) return false;
     const ownerString = owner.toString();
-    return ownerString === this.programId.toString() || PROGRAM_FEE_EXEMPT_OWNER_WHITELIST.some(
+    const approvedOwner = ownerString === this.programId.toString() || PROGRAM_FEE_EXEMPT_OWNER_WHITELIST.some(
       (whitelisted) => whitelisted.toString() === ownerString
     );
+    if (!approvedOwner) return false;
+    try {
+      return import_web32.PublicKey.createProgramAddressSync(
+        seeds.map((seed) => Buffer.from(seed)),
+        new import_web32.PublicKey(ownerString)
+      ).equals(new import_web32.PublicKey(signer));
+    } catch {
+      return false;
+    }
   }
   async fetchTrancheState(args) {
     if (args.vaultTrancheState) {
@@ -13715,10 +15786,15 @@ var CancelJuniorTrancheWithdrawBuilder = class extends VaultBuilderBase {
         txArgs.user,
         txArgs.queueId
       ),
-      resolveTrancheShare(this.account, txArgs.vault, { junior: {} }, {
-        mint: txArgs.juniorShareMint,
-        tokenProgram: txArgs.shareTokenProgram
-      })
+      resolveTrancheShare(
+        this.account,
+        txArgs.vault,
+        { junior: {} },
+        {
+          mint: txArgs.juniorShareMint,
+          tokenProgram: txArgs.shareTokenProgram
+        }
+      )
     ]);
     const { mint: juniorShareMint, tokenProgram: shareTokenProgram } = juniorShare;
     const queuePda = txArgs.withdrawalQueue ?? withdrawalQueue;
@@ -13862,6 +15938,10 @@ var CreateTrancheStateBuilder = class extends VaultBuilderBase {
       vaultTrancheState: (0, import_common8.toWeb3Pk)(args.vaultTrancheState),
       juniorShareMint: (0, import_common8.toWeb3Pk)(args.juniorShareMint),
       seniorShareMint: (0, import_common8.toWeb3Pk)(args.seniorShareMint),
+      // Optional on-chain: required only on the organic path, where the
+      // program enforces a fresh NAV before enabling tranching. Left null on
+      // the migration path so Anchor resolves it to the program ID.
+      vaultOracle: args.vaultOracle ? (0, import_common8.toWeb3Pk)(args.vaultOracle) : null,
       tokenProgram: (0, import_common8.toWeb3Pk)(args.tokenProgram),
       systemProgram: import_web35.SystemProgram.programId
     }).instruction().then(import_common8.toKitInstruction);
@@ -13870,19 +15950,32 @@ var CreateTrancheStateBuilder = class extends VaultBuilderBase {
     const [vaultTrancheState] = await this.pda.deriveVaultTrancheStatePda(
       txArgs.vault
     );
+    const forMigration = txArgs.forMigration ?? false;
+    let vaultOracle = txArgs.vaultOracle;
+    if (!forMigration && vaultOracle === void 0) {
+      const vaultData = await this.account.fetchVault(txArgs.vault, {
+        fresh: true
+      });
+      const hasMainShares = BigInt(vaultData.accounting.totalMintSupply.toString()) > 0n;
+      const hasFixedApy = vaultData.config.apy.fixedApyBps > 0;
+      if (hasMainShares && hasFixedApy) {
+        [vaultOracle] = await this.pda.deriveVaultOraclePda(txArgs.vault);
+      }
+    }
     return {
       curator: txArgs.curator,
       vault: txArgs.vault,
       vaultTrancheState,
       juniorShareMint: txArgs.juniorShareMint,
       seniorShareMint: txArgs.seniorShareMint,
+      vaultOracle,
       seniorFixedApyBps: txArgs.seniorFixedApyBps ?? 0,
       earlyUnstakeFeeBps: txArgs.earlyUnstakeFeeBps ?? DEFAULT_JUNIOR_EARLY_UNSTAKE_FEE_BPS,
       standardUnstakeFeeBps: txArgs.standardUnstakeFeeBps ?? DEFAULT_JUNIOR_STANDARD_UNSTAKE_FEE_BPS,
       targetLockupDurationSecs: new import_core.BN(
         (txArgs.targetLockupDurationSecs ?? DEFAULT_JUNIOR_WITHDRAWAL_LOCKUP_SECS).toString()
       ),
-      forMigration: txArgs.forMigration ?? false,
+      forMigration,
       tokenProgram: txArgs.tokenProgram ?? TOKEN_PROGRAM_ID
     };
   }
@@ -13916,6 +16009,7 @@ var ActivateCircuitBreakerBuilder = class extends VaultBuilderBase {
 
 // src/client/builders/createVault.ts
 var import_core3 = require("@anchor-lang/core");
+var import_token = require("@solana-program/token");
 var import_spl_token4 = require("@solana/spl-token");
 var import_web36 = require("@solana/web3.js");
 var import_common11 = __toESM(require_dist());
@@ -13982,6 +16076,7 @@ var CreateVaultBuilder = class extends VaultBuilderBase {
     const [vault] = await this.pda.deriveVaultPda(vaultId);
     const [vaultOracle] = await this.pda.deriveVaultOraclePda(vault);
     const [feeVault] = await this.pda.deriveFeeAuthorityPda(vault);
+    const assetDecimals = (await (0, import_token.fetchMint)(this.rpc, txArgs.strictAssetMint)).data.decimals;
     return {
       curator: txArgs.curator,
       vault,
@@ -13996,7 +16091,6 @@ var CreateVaultBuilder = class extends VaultBuilderBase {
         cbTrigger: txArgs.cbTrigger ?? txArgs.curator,
         feeCollector: txArgs.feeCollector ?? txArgs.curator,
         baseAssetMint: txArgs.strictAssetMint,
-        assetDecimals: txArgs.assetDecimals,
         mintFeeBps: txArgs.mintFeeBps ?? 0,
         burnFeeBps: txArgs.burnFeeBps ?? 0,
         performanceFeeBps: txArgs.performanceFeeBps ?? 0,
@@ -14007,7 +16101,7 @@ var CreateVaultBuilder = class extends VaultBuilderBase {
         initialMintSharePrice: null,
         basePriceOracleType: txArgs.basePriceOracleType ?? 1,
         basePrice: new import_core3.BN(
-          (txArgs.basePrice ?? 10n ** BigInt(txArgs.assetDecimals)).toString()
+          (txArgs.basePrice ?? 10n ** BigInt(assetDecimals)).toString()
         ),
         basePriceOracleAccount: txArgs.basePriceOracleAccount ?? DEFAULT_PRICE_ORACLE_ACCOUNT,
         forMigration: txArgs.forMigration ?? false
@@ -14678,7 +16772,12 @@ var ExecuteShareSwapBuilder = class extends VaultBuilderBase {
     return this.program.methods.executeShareSwap(data.kind, data.shareAmount).accountsPartial(this.getIxAccounts(args)).instruction().then(import_common23.toKitInstruction);
   }
   async deriveIxArgs(txArgs) {
-    const [[vaultOracle], [vaultTrancheState], trancheShare, shareTokenProgram] = await Promise.all([
+    const [
+      [vaultOracle],
+      [vaultTrancheState],
+      trancheShare,
+      shareTokenProgram
+    ] = await Promise.all([
       this.pda.deriveVaultOraclePda(txArgs.vault),
       this.pda.deriveVaultTrancheStatePda(txArgs.vault),
       resolveTrancheShare(this.account, txArgs.vault, txArgs.kind, {
@@ -14767,12 +16866,19 @@ var ExecuteDepositBuilder = class extends VaultBuilderBase {
   }
   getIxData(args) {
     return {
-      amount: args.amount
+      amount: args.amount,
+      addressSeeds: args.addressSeeds
     };
   }
   async getIx(args) {
     const data = this.getIxData(args);
-    return this.program.methods.executeDeposit(data.amount).accountsPartial(this.getIxAccounts(args)).instruction().then(import_common24.toKitInstruction);
+    const methods = data.addressSeeds ? this.program.methods.executeDepositFeeExempt(
+      data.amount,
+      data.addressSeeds.map((seed) => Buffer.from(seed))
+    ) : this.program.methods.executeDeposit(data.amount);
+    return methods.accountsPartial(
+      this.getIxAccounts(args)
+    ).instruction().then(import_common24.toKitInstruction);
   }
   async deriveIxArgs(txArgs) {
     const connection = this.program.provider.connection;
@@ -14812,6 +16918,7 @@ var ExecuteDepositBuilder = class extends VaultBuilderBase {
       assetMint: txArgs.assetMint,
       shareMint: txArgs.shareMint,
       amount: new import_core7.BN(txArgs.amount.toString()),
+      addressSeeds: txArgs.addressSeeds,
       assetTokenProgram,
       shareTokenProgram,
       userAssetAta: txArgs.userAssetAta ?? (0, import_common24.getAtaAddress)(txArgs.assetMint, txArgs.user, assetTokenProgram),
@@ -14911,12 +17018,20 @@ var ExecuteTrancheDepositBuilder = class extends VaultBuilderBase {
   getIxData(args) {
     return {
       kind: args.kind,
-      amount: args.amount
+      amount: args.amount,
+      addressSeeds: args.addressSeeds
     };
   }
   async getIx(args) {
     const data = this.getIxData(args);
-    return this.program.methods.executeTrancheDeposit(data.kind, data.amount).accountsPartial(this.getIxAccounts(args)).instruction().then(import_common25.toKitInstruction);
+    const methods = data.addressSeeds ? this.program.methods.executeTrancheDepositFeeExempt(
+      data.kind,
+      data.amount,
+      data.addressSeeds.map((seed) => Buffer.from(seed))
+    ) : this.program.methods.executeTrancheDeposit(data.kind, data.amount);
+    return methods.accountsPartial(
+      this.getIxAccounts(args)
+    ).instruction().then(import_common25.toKitInstruction);
   }
   async deriveIxArgs(txArgs) {
     const connection = this.program.provider.connection;
@@ -14946,6 +17061,7 @@ var ExecuteTrancheDepositBuilder = class extends VaultBuilderBase {
       trancheShareMint,
       kind: txArgs.kind,
       amount: new import_core8.BN(txArgs.amount.toString()),
+      addressSeeds: txArgs.addressSeeds,
       assetTokenProgram,
       shareTokenProgram,
       userAssetAta: (0, import_common25.getAtaAddress)(
@@ -15048,12 +17164,23 @@ var ExecuteTrancheWithdrawBuilder = class extends VaultBuilderBase {
   getIxData(args) {
     return {
       kind: args.kind,
-      shareAmount: args.shareAmount
+      shareAmount: args.shareAmount,
+      addressSeeds: args.addressSeeds
     };
   }
   async getIx(args) {
     const data = this.getIxData(args);
-    return this.program.methods.executeTrancheWithdraw(data.kind, data.shareAmount).accountsPartial(this.getIxAccounts(args)).instruction().then(import_common26.toKitInstruction);
+    const methods = data.addressSeeds ? this.program.methods.executeTrancheWithdrawFeeExempt(
+      data.kind,
+      data.shareAmount,
+      data.addressSeeds.map((seed) => Buffer.from(seed))
+    ) : this.program.methods.executeTrancheWithdraw(
+      data.kind,
+      data.shareAmount
+    );
+    return methods.accountsPartial(
+      this.getIxAccounts(args)
+    ).instruction().then(import_common26.toKitInstruction);
   }
   async deriveIxArgs(txArgs) {
     const connection = this.program.provider.connection;
@@ -15082,6 +17209,7 @@ var ExecuteTrancheWithdrawBuilder = class extends VaultBuilderBase {
       trancheShareMint,
       kind: txArgs.kind,
       shareAmount: new import_core9.BN(txArgs.shareAmount.toString()),
+      addressSeeds: txArgs.addressSeeds,
       assetTokenProgram,
       shareTokenProgram,
       userAssetAta: (0, import_common26.getAtaAddress)(
@@ -15177,13 +17305,23 @@ var ExecuteWithdrawBuilder = class extends VaultBuilderBase {
     return {
       shareAmount: args.shareAmount,
       externalWithdrawIxRefs: args.externalWithdrawIxRefs ?? null,
-      externalLiquiditySource: args.externalLiquiditySource ?? null
+      externalLiquiditySource: args.externalLiquiditySource ?? null,
+      addressSeeds: args.addressSeeds
     };
   }
   async getIx(args) {
     const data = this.getIxData(args);
     const useExternal = data.externalWithdrawIxRefs != null || data.externalLiquiditySource != null;
-    const methods = useExternal ? this.program.methods.executeWithdrawFromExternal(
+    const anchorSeeds = data.addressSeeds?.map((seed) => Buffer.from(seed));
+    const methods = anchorSeeds ? useExternal ? this.program.methods.executeWithdrawFromExternalFeeExempt(
+      data.shareAmount,
+      data.externalWithdrawIxRefs,
+      data.externalLiquiditySource,
+      anchorSeeds
+    ) : this.program.methods.executeWithdrawFeeExempt(
+      data.shareAmount,
+      anchorSeeds
+    ) : useExternal ? this.program.methods.executeWithdrawFromExternal(
       data.shareAmount,
       data.externalWithdrawIxRefs,
       data.externalLiquiditySource
@@ -15276,7 +17414,8 @@ var ExecuteWithdrawBuilder = class extends VaultBuilderBase {
       userShareAta: txArgs.userShareAta ?? (0, import_common27.getAtaAddress)(txArgs.shareMint, txArgs.user, shareTokenProgram),
       externalWithdrawIxRefs,
       externalLiquiditySource,
-      externalWithdrawAccounts
+      externalWithdrawAccounts,
+      addressSeeds: txArgs.addressSeeds
     };
   }
   async buildLookupTables(_args, txArgs) {
@@ -15322,7 +17461,10 @@ var import_web313 = require("@solana/web3.js");
 var import_common28 = __toESM(require_dist());
 var FulfillJuniorTrancheWithdrawBuilder = class extends VaultBuilderBase {
   async getIx(args) {
-    return this.program.methods.fulfillJuniorTrancheWithdraw().accountsPartial({
+    const methods = args.addressSeeds ? this.program.methods.fulfillJuniorTrancheWithdrawFeeExempt(
+      args.addressSeeds.map((seed) => Buffer.from(seed))
+    ) : this.program.methods.fulfillJuniorTrancheWithdraw();
+    return methods.accountsPartial({
       signer: (0, import_common28.toWeb3Pk)(args.signer),
       owner: (0, import_common28.toWeb3Pk)(args.owner),
       queuePayer: (0, import_common28.toWeb3Pk)(args.queuePayer),
@@ -15371,10 +17513,15 @@ var FulfillJuniorTrancheWithdrawBuilder = class extends VaultBuilderBase {
         txArgs.assetMint,
         txArgs.assetTokenProgram
       ),
-      resolveTrancheShare(this.account, txArgs.vault, { junior: {} }, {
-        mint: txArgs.juniorShareMint,
-        tokenProgram: txArgs.shareTokenProgram
-      })
+      resolveTrancheShare(
+        this.account,
+        txArgs.vault,
+        { junior: {} },
+        {
+          mint: txArgs.juniorShareMint,
+          tokenProgram: txArgs.shareTokenProgram
+        }
+      )
     ]);
     const { mint: juniorShareMint, tokenProgram: shareTokenProgram } = juniorShare;
     const queuePda = txArgs.withdrawalQueue ?? withdrawalQueue;
@@ -15413,7 +17560,8 @@ var FulfillJuniorTrancheWithdrawBuilder = class extends VaultBuilderBase {
         queuePda,
         shareTokenProgram,
         true
-      )
+      ),
+      addressSeeds: txArgs.addressSeeds
     };
   }
   async buildPreambleInstructions(args) {
@@ -15681,7 +17829,8 @@ var JupiterSwapBuilder = class extends VaultBuilderBase {
       sourceTokenProgram: (0, import_common32.toWeb3Pk)(args.sourceTokenProgram),
       destinationTokenProgram: (0, import_common32.toWeb3Pk)(args.destinationTokenProgram),
       destinationOracleAccount: args.destinationOracleAccount ? (0, import_common32.toWeb3Pk)(args.destinationOracleAccount) : null,
-      vaultOracle: (0, import_common32.toWeb3Pk)(args.vaultOracle)
+      vaultOracle: (0, import_common32.toWeb3Pk)(args.vaultOracle),
+      vaultTrancheState: args.vaultTrancheState ? (0, import_common32.toWeb3Pk)(args.vaultTrancheState) : null
     }).remainingAccounts(args.accounts.map(toWeb3AccountMeta2)).instruction().then(import_common32.toKitInstruction);
   }
   async deriveIxArgs(txArgs) {
@@ -15699,6 +17848,7 @@ var JupiterSwapBuilder = class extends VaultBuilderBase {
       ),
       destinationOracleAccount: txArgs.destinationOracleAccount ?? null,
       vaultOracle: txArgs.vaultOracle ?? vaultOracle,
+      vaultTrancheState: txArgs.vaultTrancheState ?? null,
       accounts: txArgs.accounts,
       sourceTokenProgram,
       destinationTokenProgram,
@@ -15741,7 +17891,15 @@ var JupiterSwapBuilder = class extends VaultBuilderBase {
   }
   async buildPlanExtras(args) {
     return {
-      postSuccessCacheInvalidations: [{ vaultPda: args.vault }]
+      postSuccessCacheInvalidations: [
+        { vaultPda: args.vault },
+        ...args.vaultTrancheState ? [
+          {
+            vaultPda: args.vault,
+            vaultTrancheStatePda: args.vaultTrancheState
+          }
+        ] : []
+      ]
     };
   }
   async getTx(txArgs) {
@@ -15783,12 +17941,7 @@ var RequestJuniorTrancheWithdrawBuilder = class extends VaultBuilderBase {
   }
   async deriveIxArgs(txArgs) {
     const payer = txArgs.payer ?? txArgs.user;
-    const [
-      [vaultOracle],
-      [vaultTrancheState],
-      [withdrawalQueue],
-      juniorShare
-    ] = await Promise.all([
+    const [[vaultOracle], [vaultTrancheState], [withdrawalQueue], juniorShare] = await Promise.all([
       this.pda.deriveVaultOraclePda(txArgs.vault),
       this.pda.deriveVaultTrancheStatePda(txArgs.vault),
       this.pda.deriveVaultTrancheWithdrawalQueuePda(
@@ -15796,10 +17949,15 @@ var RequestJuniorTrancheWithdrawBuilder = class extends VaultBuilderBase {
         txArgs.user,
         txArgs.queueId
       ),
-      resolveTrancheShare(this.account, txArgs.vault, { junior: {} }, {
-        mint: txArgs.juniorShareMint,
-        tokenProgram: txArgs.shareTokenProgram
-      })
+      resolveTrancheShare(
+        this.account,
+        txArgs.vault,
+        { junior: {} },
+        {
+          mint: txArgs.juniorShareMint,
+          tokenProgram: txArgs.shareTokenProgram
+        }
+      )
     ]);
     const { mint: juniorShareMint, tokenProgram: shareTokenProgram } = juniorShare;
     const queuePda = txArgs.withdrawalQueue ?? withdrawalQueue;
@@ -15883,6 +18041,8 @@ var VaultReallocationBuilder = class extends VaultBuilderBase {
       allocationDestinationShareAta: (0, import_common34.toWeb3Pk)(
         args.allocationDestinationShareAta
       ),
+      sourceVaultTrancheState: args.sourceVaultTrancheState ? (0, import_common34.toWeb3Pk)(args.sourceVaultTrancheState) : null,
+      destinationVaultTrancheState: args.destinationVaultTrancheState ? (0, import_common34.toWeb3Pk)(args.destinationVaultTrancheState) : null,
       assetOracleAccount: args.assetOracleAccount ? (0, import_common34.toWeb3Pk)(args.assetOracleAccount) : null,
       assetTokenProgram: (0, import_common34.toWeb3Pk)(args.assetTokenProgram),
       sourceShareTokenProgram: (0, import_common34.toWeb3Pk)(args.sourceShareTokenProgram),
@@ -15918,6 +18078,8 @@ var VaultReallocationBuilder = class extends VaultBuilderBase {
       destinationShareMint: txArgs.destinationShareMint,
       amount: new import_core16.BN(txArgs.amount.toString()),
       assetPriceOracle: toAssetPriceOracleConfig2(txArgs.assetPriceOracle),
+      sourceVaultTrancheState: txArgs.sourceVaultTrancheState ?? null,
+      destinationVaultTrancheState: txArgs.destinationVaultTrancheState ?? null,
       assetOracleAccount: txArgs.assetOracleAccount ?? null,
       assetTokenProgram,
       sourceShareTokenProgram,
@@ -16019,7 +18181,19 @@ var VaultReallocationBuilder = class extends VaultBuilderBase {
       postSuccessCacheInvalidations: [
         { vaultPda: args.allocationVault },
         { vaultPda: args.destinationVault },
-        ...args.sourceVault ? [{ vaultPda: args.sourceVault }] : []
+        ...args.sourceVault ? [{ vaultPda: args.sourceVault }] : [],
+        ...args.sourceVault && args.sourceVaultTrancheState ? [
+          {
+            vaultPda: args.sourceVault,
+            vaultTrancheStatePda: args.sourceVaultTrancheState
+          }
+        ] : [],
+        ...args.destinationVaultTrancheState ? [
+          {
+            vaultPda: args.destinationVault,
+            vaultTrancheStatePda: args.destinationVaultTrancheState
+          }
+        ] : []
       ]
     };
   }
@@ -17921,6 +20095,7 @@ var ExternalLiquidityIntegrityService = class {
   UpdateConsensusSignersBuilder,
   UpdateTrancheConfigBuilder,
   VAULT_CACHE_CATEGORY,
+  VAULT_CREATOR_WHITELIST,
   VAULT_ENVIRONMENTS,
   VAULT_ORACLE_CACHE_CATEGORY,
   VAULT_PROGRAM_ID,