# Vault Protections When you deposit into Neutral Strategy Vaults, several independent layers of protection govern how your capital is held, moved, and priced. This page explains each of them in plain terms. ## Your funds can only move to pre-approved places Neither Neutral Trade nor any strategy curator can withdraw your funds to an arbitrary external wallet. Every asset movement is restricted, programmatically, to a fixed set of pre-approved addresses and programs. Curators have API access to manage strategy execution, but no access to withdraw or move user assets. ## Redemptions don't force the strategy to unwind Each vault maintains a liquidity reserve so that redemption requests can be processed without immediately unwinding active positions. This protects both the depositor redeeming and the depositors who remain, neither is penalised by the timing of the other's exit. ## Vault pricing is protected against manipulation The price at which shares are issued and redeemed (NAV) is governed by dynamic limits on how much it can move per update. This prevents oracle manipulation, flash loan attacks, and erroneous pricing data from affecting your position. If a price update falls outside the expected range, it is held for manual verification before taking effect. ## Deposits and withdrawals batching Rather than processing each transaction individually, deposits and withdrawals are collected and netted against each other once per day before execution. This has two benefits: it reduces unnecessary capital movement, and it prevents MEV bots from exploiting millisecond-level differences between vault pricing and external market rates. ## Changes to vault terms require advance notice Any material change to a vault, including fee adjustments, withdrawal settings, or strategy allocations, is subject to a mandatory 24-hour timelock before taking effect. ## There is an emergency circuit breaker In the event of extreme market conditions or a detected smart contract anomaly, an emergency function can be triggered to immediately halt new deposits and withdrawals, and recall all deployed capital back to the base vault contract. This is a last-resort protection designed to contain exposure during tail-risk events while keeping your funds within the audited vault perimeter. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.neutral.trade/neutral-strategy-vaults/vault-protections.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.