> For the complete documentation index, see [llms.txt](https://docs.ensemble.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ensemble.io/protocol-transparency/contract-architecture.md).

# Contract roles

Understand the on-chain responsibilities behind vault shares, trading and transaction controls.

Ensemble separates accounting, transaction policy and observation into distinct contracts. This makes the responsibilities easier to inspect: who records ownership, which rules allow an action, and where a reported value comes from.

## Vaults account for your position

Each vault holds pooled capital and records the shares owned by its holders. Its contracts calculate NAV, recognize fees and govern the strategy's state. The six vaults have independent positions and settings, even where their configured directions form a pair.

Read [share accounting](/how-it-works/nav-and-share-accounting.md) and compare [the vault lineup](/vaults/vaults.md).

## CircuitBreaker controls transactions

CircuitBreaker applies deposit and redemption policy, including pauses and amount limits. A direct vault transaction follows these controls too. Available capacity depends on the account, usage and current state; it is separate from a share-value estimate.

Read [CircuitBreaker](/safety/circuit-breaker.md) and [fees and caps](/how-it-works/fees-and-caps.md).

## VaultLens helps observe state

VaultLens collects contract information for values, settings and availability. It does not move funds or override the vault's accounting. A failed or incompatible reading means the value is unavailable, not that the holder's position is worth zero.

Read [sources of truth](/data-and-transparency/sources-of-truth.md) when observations disagree.

## Trading has its own timeline

The vault submits capital movements and orders to HyperCore through HyperEVM's contract mechanisms. Submission and confirmation are separate steps, and orders can fill partially. Maintenance callers request eligible actions; the contracts enforce their conditions.

Read [capital deployment and rebalancing](/how-it-works/capital-deployment-and-rebalancing.md).

## Owners and upgrades can change behavior

Administrative contracts provide authorized configuration and recovery actions. Proxy upgrades can replace the implementation at an existing vault address. Holders should understand these powers alongside the selected strategy's market risk.

Read [governance and roles](/safety/governance-and-roles.md), verify the [contract addresses](/protocol-transparency/contract-addresses.md), and inspect the [public audit](/safety/audits-and-security.md).