Partner Vaults

Auto-compounding single-asset strategies on Kyber Earn

Introduction

What are Partner Vaults?

Partner Vaults are single-asset, auto-compounding strategy vaults operated by third-party protocols and made accessible through Kyber Earn. You deposit one asset, and the partner protocol allocates it across a set of DeFi positions and rebalances according to that vault's strategy.

At launch, Partner Vaults are provided by ether.fi through its Liquid vaults (more partner vaults will come soon).

Kyber Earn does not operate Partner Vaults or manage their strategies. Deposited assets are held in the partner protocol's vault contracts. Returns are variable and not guaranteed.

What can you do with a Partner Vault on Kyber Earn?

Kyber Earn adds token routing on top of the partner protocol's vaults. That changes three things about how you use them:

• Compare vaults and liquidity pools side by side. Both opportunity types appear in Kyber Earn, so a single-asset vault and a concentrated liquidity position can be evaluated against each other before you commit.

• Deposit with any single or multiple tokens. Fund a position from one or multiple tokens you already hold; Kyber Earn converts and deposits in a single transaction, rather than requiring you to acquire the vault's deposit asset first.

• Exit to any token without waiting. Vault positions can be converted directly into another token in one transaction, instead of waiting out the partner protocol's withdrawal queue. The amount received is set by market pricing rather than the vault's redemption value.

How do Vaults differ from liquidity pools?

Both are ways to put assets to work through Kyber Earn, but they behave differently:

	Liquidity Pools	Vaults
Entry	Up to 5 tokens, within a chosen price range	One or more tokens, converted into the vault's deposit asset through Zap. No price range
Yield source	Trading fees and reward programs (if available)	Strategy allocation across DeFi positions
Impermanent loss	Applies	Not applicable — single-asset exposure
Earnings	Claimed or compounded per position	Compounded automatically into your balance
Exit	Immediate, via Standard Withdrawal or Zap Out	Through the partner's withdrawal queue, or by swapping to another token
Managed by	Liquidity Provider	The partner protocol
Smart Exit	Supported	Not supported

Partner Vaults are operated and managed by ether.fi or other protocols. KyberSwap provides the access interface and token routing only, and does not control, operate, or guarantee the performance of any Partner Vault. Any vault-related concerns should be directed to the partner protocol.

Ready to start? Browse the available vaults, compare their APY and TVL, and open any vault to see what its strategy does before you commit: https://kyberswap.com/earn/vaults, or choose Earn > Explore Vaults from the menu.

Want to understand the mechanism? Each vault is operated by its partner protocol, which decides how deposits are allocated and rebalanced. For ether.fi vaults, see their documentation: https://etherfi.gitbook.io/etherfi.

Withdrawal options

Kyber Earn offers two withdrawal methods, which differ in speed and in how your output is priced.

	Withdraw to any token	Native withdrawal
Timing	Single transaction, settles immediately	Processed through a queue, typically several days
Claiming	Not required. Tokens arrive in your wallet in the same swap transaction	Not required. Tokens are sent to your wallet automatically when the request completes
You receive	Any supported token	The vault's underlying asset
Pricing	On-chain price	The vault's share redemption value

Withdraw to any token converts your vault shares directly into a token of your choice in a single transaction, with no waiting period. The conversion is routed through KyberSwap Aggregator, which searches across liquidity sources for the rate available at that moment.

Before you confirm, you see the estimated amount you will receive, the minimum guaranteed after slippage, and any price impact. Because this method prices at the market rather than redeeming at the vault's share value, the amount you receive may be higher or lower than a native withdrawal.

Native withdrawal submits a redemption request to ether.fi's withdrawal queue and returns the vault's underlying asset. It is not immediate and can take several days; the processing time is shown before you confirm. Your request moves through Requested, Pending, and Completed states, visible on your vault position. When it completes, the assets are sent to your wallet automatically — there is no claim step.