> ## Documentation Index > Fetch the complete documentation index at: https://docs.kamino.com/llms.txt > Use this file to discover all available pages before exploring further. # Roles & ownership > Vault admin types, the multisig model, and the Squads-based execution flow A production vault runs under a Squads multisig — every state-changing operation flows through proposals and approvals. This page explains the admin roles, the transfer model, and how operations actually execute once the multisig holds admin. ## The three admin roles | Role | Scope | Transfer model | | - | - | - | | **Vault Admin** | Full control over settings, allocations, fees, and all parameters | Two-step (initiate → claim) | | **Allocation Admin** | Update allocation **weights, caps, types, and priorities** on existing reserves only. Cannot add or remove reserves; cannot change vault settings. | Single-step (Vault Admin sets directly) | | **Farm Authority** | Controls the vault's farm. Transferred to the protocol after farm creation; not curator-managed thereafter. | Automatic | ### When to use Allocation Admin Allocation Admin is the role you delegate to a non-multisig wallet (or a different multisig) to handle day-to-day rebalancing without granting full vault control. Common patterns: * An automated rebalancing service holds Allocation Admin while the Vault Admin remains a high-security multisig. * A secondary operator manages weights between scheduled rebalances; the primary multisig retains structural control. * Risk management software adjusts caps in response to market signals. The Allocation Admin cannot add new reserves to the allocation or change fee structure — those still require the Vault Admin. To set or rotate the Allocation Admin, see [Transfer admin to multisig → Allocation Admin transfer](https://docs.kamino.com/curators/vaults/guides/transfer-admin.md#allocation-admin-transfer-optional). ## The two-step Vault Admin transfer Vault Admin transfer uses a two-step pattern to prevent accidental ownership changes. ``` [ current admin ] initiate transfer [ pending admin set ] claim [ new admin holds vault ] ● ─────────────────────────────► ● ──────► ● │ │ current admin can cancel here ▼ [ unchanged ] ``` 1. **Initiate.** The current admin submits a transfer to the new admin address. The vault state's `PendingVaultAdmin` is set to the new admin. The new admin does not yet hold control. 2. **Claim.** The new admin (typically a Squads multisig) submits an accept-ownership transaction. Control transfers atomically. Until step 2 lands, the current admin can cancel the pending transfer. After step 2, the previous admin has no privileges. The Allocation Admin transfer is **single-step** — the Vault Admin sets the new Allocation Admin directly. There is no claim. This is intentional: you may want to revoke or rotate Allocation Admin quickly without coordination from the new admin. For step-by-step transfer instructions, see [Transfer admin to multisig](https://docs.kamino.com/curators/vaults/guides/transfer-admin.md). ## The Squads multisig model Production vaults transfer Vault Admin to a [Squads](https://squads.so) multisig before accepting deposits. Two reasons: * **Operational security.** No single key can move vault funds. * **Required for UI listing.** Kamino's UI lists only multisig-controlled vaults that also have [Whitelisted Reserves](https://docs.kamino.com/curators/vaults/concepts/risk-primitives.md#whitelisted-reserves) enabled — see [Enable Whitelisted Reserves](https://docs.kamino.com/curators/vaults/guides/enable-whitelisted-reserves.md). Once the multisig holds Vault Admin, every state-changing operation becomes a Squads proposal that requires the configured threshold of signatures. To migrate, see [Transfer admin to multisig](https://docs.kamino.com/curators/vaults/guides/transfer-admin.md). ## How operations execute under multisig Two flows are supported. Both produce the same on-chain outcome. For the workflow walkthrough, see [Transfer admin to multisig → Operating after transfer](https://docs.kamino.com/curators/vaults/guides/transfer-admin.md#operating-after-transfer). ### SquadsX flow (recommended) When you sign in to [kamino.com/curators/vaults](https://kamino.com/curators/vaults) with SquadsX, the Send action automatically: 1. Generates the transaction. 2. Creates a Squads proposal. 3. Surfaces it to the multisig members for approval. You don't copy or paste anything — the proposal lands in the Squads dashboard ready for review and execution. ### Encoded transaction flow If you're not using SquadsX: 1. Configure the change on `kamino.com/curators/vaults`. 2. Click Simulate to verify the transaction succeeds and review the resulting state. 3. Copy the Base58-encoded transaction string from the simulation output. 4. Open [Squads](https://squads.so) and import the encoded transaction. 5. Gather approvals. 6. Execute. The same flow applies to programmatic operations via SDK or CLI. SDK methods produce instructions that are wrapped into transactions; CLI commands accept `--mode multisig --multisig ` to emit a Base58-encoded payload for Squads. ## Authority transfer for emergency operations The Insurance Pool's emergency withdrawal uses a **2-of-2 multisig** that's separate from your vault Squads: * One signature from your curator-controlled wallet. * One signature from Kamino's security council. This applies only to emergency withdrawals from the Insurance Pool — see [Risk primitives → Insurance Pool](https://docs.kamino.com/curators/vaults/concepts/risk-primitives.md#the-insurance-pool) and [Set up the Insurance Pool → Withdrawal mechanisms](https://docs.kamino.com/curators/vaults/guides/set-up-insurance-pool.md#withdrawal-mechanisms). Normal vault operations use only your Squads multisig. ## What a curator actually manages In practice, the role split for a typical institutional vault: | Operation | Authority | Workflow | | - | - | - | | Adjust allocation weights/caps (existing reserves) | Vault Admin or Allocation Admin | [Configure allocations](https://docs.kamino.com/curators/vaults/guides/configure-allocations.md) | | Add a new reserve to the allocation | Vault Admin only | [Configure allocations](https://docs.kamino.com/curators/vaults/guides/configure-allocations.md) | | Change fees | Vault Admin | [Create a vault](https://docs.kamino.com/curators/vaults/guides/create-a-vault.md) (also editable post-creation) | | Enable Whitelisted Reserves | Vault Admin (one-way) | [Enable Whitelisted Reserves](https://docs.kamino.com/curators/vaults/guides/enable-whitelisted-reserves.md) | | Set up Insurance Pool | Vault Admin | [Set up the Insurance Pool](https://docs.kamino.com/curators/vaults/guides/set-up-insurance-pool.md) | | Configure farms | Vault Admin | [Configure farms](https://docs.kamino.com/curators/vaults/guides/configure-farms.md) | | Transfer Vault Admin | Two-step (current → claim by new) | [Transfer admin to multisig](https://docs.kamino.com/curators/vaults/guides/transfer-admin.md) | | Emergency Insurance Pool withdrawal | 2-of-2 (curator + Kamino security) | [Set up the Insurance Pool → Withdrawal mechanisms](https://docs.kamino.com/curators/vaults/guides/set-up-insurance-pool.md#withdrawal-mechanisms) | | Cranking (sync, rebalance) | Permissionless | [Configure allocations → Sync after changes](https://docs.kamino.com/curators/vaults/guides/configure-allocations.md#sync-after-changes) | Cranking is permissionless — the network's bots run sync every \~15 minutes; you can also trigger it manually. You don't *manage* the crank; it runs. ## What's next > [card] [Transfer admin to multisig](https://docs.kamino.com/curators/vaults/guides/transfer-admin.md) > > The step-by-step migration to a Squads-controlled vault. > [card] [Risk primitives](https://docs.kamino.com/curators/vaults/concepts/risk-primitives.md) > > Insurance Pool's 2-of-2 emergency withdrawal model. This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.