> ## Documentation Index
> Fetch the complete documentation index at: https://docs.dionysus.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Private vaults

> One vault per depositor. Yours, in the fullest sense.

Dionysus is not a pool. When you join, a **smart-contract vault is deployed for you** and ownership is transferred to your wallet. Everything — capital, positions, harvested rewards — lives inside that contract, alone.

## What "private" buys you

* **No commingling.** Your capital never mixes with anyone else's. There is no shared pot, no pro-rata share, no pooled token.
* **No neighbours.** Nobody else's deposit dilutes your entry, and nobody else's panic exit forces liquidations that touch your position.
* **No permission needed to leave.** Withdrawal paths are owner-only functions on **your** contract. They work regardless of what we do — including if our infrastructure disappears entirely.
* **Legible state.** Your vault's positions, balances and fee accounting are on-chain, on an address that is yours. Anyone you share the address with can verify it.

## The division of power

Your vault knows exactly two roles:

|                                   | Owner (you)     | Operator (the agent) |
| --------------------------------- | --------------- | -------------------- |
| Deposit and withdraw funds        | ✓               | —                    |
| Move funds out of the vault       | ✓ (only to you) | —                    |
| Manage positions inside the vault | —               | ✓                    |
| Revoke the other's role           | ✓               | —                    |

The operator's mandate is narrow and bounded on-chain: it can plant, rebalance, harvest and rotate **only** within your vault's pool allowlist, under hard per-swap loss caps and rate limits. It has no function — none — that sends value anywhere except back inside the vault. See [What the agent can and cannot do](/vault/what-the-agent-can-and-cannot-do).

## If you revoke the agent

You can revoke the operator at any time. Automation stops; your ability to exit does not. Every withdrawal path is designed to work with the agent gone. See [Withdraw and exit](/vault/withdraw-and-exit).

<Note>
  One vault per wallet. The vault persists after you withdraw — empty, still yours — and can be re-funded later without redeploying.
</Note>