A comprehensive tutorial on implementing tokenized vaults on Stellar Soroban following the ERC-4626 standard pattern. The article explains vault mechanics, security considerations like inflation attacks, and details both read-only and state-changing vault functions for deposits, withdrawals, and asset conversions.
This tutorial guides developers through building tokenized vaults on Stellar Soroban, a DeFi primitive that allows users to deposit underlying assets and receive vault share tokens representing their proportional ownership. The article explains why standardized vault interfaces (like ERC-4626) matter for composability and developer efficiency, then details the vault structure including underlying assets, share tokens, and the critical decimals offset parameter used to prevent inflation attacks. It comprehensively documents all vault functions: read-only functions like convert_to_shares, preview_deposit, and total_assets; and state-changing functions like deposit, mint, withdraw, and redeem. The tutorial emphasizes how the virtual offset mechanism defends against donation attacks by establishing a safe baseline exchange rate when vaults are empty.