Vault Street Runs Onchain Structured Finance Products With Utila
Industry
Onchain Investment Products
Focus
Fixed Income, Tokenized Credit, DeFi Strategies
Products Used
Utila is a critical part of our infrastructure, supporting how we manage funds and execute our strategies day to day.
Fedor Polshchikov
Founding Engineer/Technical Product Owner
Key outcome Vault Street gained using Utila
Granular Permissions With Less Custom Development
Vault Street uses Utila to introduce and adjust yield strategies while applying granular controls to wallet activity. Contract-, method-, and parameter-level permissions give the team an alternative to developing and auditing custom smart contract adapters for many interactions.
Our infrastructure supports execution for primeUSD and CARRY through separate Utila vaults. The team manages activity across Ethereum, Base, and Solana, adding its own transaction-verification logic where needed and retaining human signing requirements.
About Vault Street
Institutional Yield Across Tokenized Assets
Vault Street by Resolv Labs packages tokenized real-world assets and onchain strategies into investment products. Its two initial products address different allocation objectives.
primeUSD allocates across short-duration fixed-income instruments, including tokenized US Treasuries and AAA-rated structured credit funds. CARRY combines tokenized private credit with market-neutral positions across onchain markets, using leverage to generate yield on diversified higher-yielding assets. Vault Street’s documentation describes both products as leveraged funds settled in USDC.
Executing those strategies involves lending and borrowing, tokenized asset investments, and cross-chain USDC transfers. The team uses Utila alongside Aave, Morpho, Superstate, Centrifuge, Midas, Kamino, Hastra, and Circle CCTP.
The challenge Vault Street was facing
Adapting Strategies Without Repeated Integration Work
Before adopting Utila, the team used custom smart contract adapters for DeFi protocols together with another MPC provider for wallet operations. The main limitation of that setup was the time required to implement and adjust strategies.
As market conditions changed, the team needed to adapt its allocations and interactions. Developing and auditing custom adapters for each new integration added engineering work to that process and extended time to market.
Vault Street needed a practical way to enable the operations required by a strategy while restricting everything outside its intended scope. Utila’s ability to constrain interactions by contract, method, and individual parameters offered an alternative for many of those workflows.
The solution we delivered for Vault Street
Product-Specific Wallets and Transaction Permissions
Vault Street adopted Utila’s wallet infrastructure and policy engine to manage strategy execution with permissions defined at the wallet and transaction level. The setup also allows the team to add its own verification before approval.
Separate Controls for Each Product
primeUSD and CARRY each have a dedicated Utila vault, allowing the team to configure members, administrative quorums, address books, and policies independently. Within each vault, it maintains a relatively stable set of wallets, each with its own rules.
According to the Vault Street team, wallet creation with Utila is easy and straightforward. The team particularly values the default-deny configuration: wallets can perform only the activities the team has explicitly allowed.
Permissions Tailored to Each Strategy
To enable an EVM smart contract interaction, the team adds the contract to its address book, allows specific methods, and applies parameter checks through CEL. Utila’s contract-call rules let teams scope interactions to selected contracts and networks, with advanced function and parameter conditions.
Vault Street applies those conditions to four recurring requirements:
Restrict recipients. Limit fields such as recipient and onBehalfOf to approved addresses.
Limit token approvals. Constrain how much a contract is allowed to spend.
Control transfers. Enforce approved destinations and amount limits across all transfers.
Restrict assets. Define which assets can be swapped, deposited into, or withdrawn from contracts.
Inspect multicall operations. Validate the methods and parameters inside bundled transactions against explicit policy conditions.
The team also configures the required number of approvers for each policy. This gives operators permission to execute a strategy’s necessary activities within a defined approval process.
“This lets us give the team access to the operations required by a strategy while keeping permissions narrowly defined.”
Fedor Polshchikov, Vault Street
Additional Verification Before Human Signing
Vault Street adds its backend as an additional transaction approver when a workflow requires checks beyond CEL. This includes Solana activity, where EVM CEL is unavailable, and checks such as slippage or lending-position health factors.
The backend examines the proposed transaction payload and performs the additional checks before approving it. It acts only as an approver, does not sign transactions, and leaves the human signature requirement in place.
This arrangement lets the team combine our approval infrastructure with its own verification logic, while accounting for differences in the policy controls available on Ethereum, Base, and Solana.
Clearer Preparation and Independent Review
The team uses our browser extension’s transaction simulation to inspect a transaction before sending it to other signers and approvers. Vault Street reports that this helps identify potential mistakes during preparation and reduces unnecessary back-and-forth.
Policy exports support a separate review process. Fedor highlights the ability to export the configuration as a CSV file and share it with the security partner for an independent examination of permissions and controls.
That review matters to Vault Street’s operating model. Using Utila as an alternative to some custom adapters increases reliance on our infrastructure and policy enforcement, which Fedor describes as a critical dependency.
High impact results Vault Street experienced
More Flexibility in Day-to-Day Strategy Execution
“The biggest improvement has been the ability to introduce and adjust strategies without developing a custom smart contract adapter for every interaction, while still applying granular controls over what our wallets can do.”
— Fedor Polshchikov, Vault Street
The Vault Street team identifies flexibility in strategy implementation as the most important change following the implementation of Utila’s wallet infrastratucture. For many interactions, the team can define permitted execution through policies, reducing its dependence on developing and auditing custom adapters.
The team also retains product-specific administrative configurations and can extend transaction verification through its backend. During day-to-day execution, simulation helps operators identify potential mistakes before other participants review the transaction, while policy exports provide a configuration that can be examined independently.
Those capabilities support how Vault Street manages funds and adjusts its strategies across Ethereum, Base, and Solana.
“Utila is a critical part of our infrastructure, supporting how we manage funds and execute our strategies day to day.”
Fedor Polshchikov, Vault Street
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