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How It Differs
Canonical Vaults are yAxis vaults that will allow users to deposit any ERC-20 token that can be leveraged. Similar to the MetaVault token (MVLT), each Canonical Vault will have its own token that represents a user's share of the funds.
From an investor's perspective, Canonical Vaults are identical to the MetaVault: deposit a single asset, earn interest, and withdraw more of the same asset (with some YAXIS rewards on top) whenever you wish to. Behind the abstractions, however, Canonical Vaults add another function: delegated strategies. They represent the final form of meta-yield aggregation.

Delegated Strategies

Delegated strategies are strategies that use a deposited asset as collateral on a lending protocol to borrow a stablecoin. This stablecoin can then be deposited into the MetaVault to take full advantage of the strategies therein. Canonical Vaults are able to mix delegated strategies with strategies that use the deposited token natively.
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