# IPOR Fusion Protocol Documentation > The Prime Brokerage Protocol of DeFi. Technical documentation for depositors, curators and builders, institutions, and IPOR DAO governance. The main IPOR index is https://ipor.io/llms.txt. This file lists the documentation pages only. Every page is also available as Markdown: append `.md` to its URL. The full text of all pages is in https://ipor.io/docs/llms-full.txt. ## Home | IPOR Fusion Protocol - [IPOR Fusion Docs](https://ipor.io/docs.md): Documentation for IPOR Fusion, onchain vault infrastructure: guides for depositors, builders and institutions, governance and resources. ## Fusion for Depositors - [Introduction to Fusion](https://ipor.io/docs/fusion-for-depositors.md) - [What is a Fusion Vault?](https://ipor.io/docs/fusion-for-depositors/what-is-a-fusion-vault.md) - [TL;DR: Why Fusion?](https://ipor.io/docs/fusion-for-depositors/why-fusion.md) - [Security Features](https://ipor.io/docs/fusion-for-depositors/why-fusion/security-features.md): IPOR Fusion infrastructure is developed to deliver peace of mind for Atomists and liquidity providers. - [Depositing](https://ipor.io/docs/fusion-for-depositors/user-guide/depositing.md) - [How to Choose a Vault](https://ipor.io/docs/fusion-for-depositors/user-guide/depositing/how-to-choose-a-vault.md) - [Withdrawing](https://ipor.io/docs/fusion-for-depositors/user-guide/withdrawing.md) - [Tracking Your Position](https://ipor.io/docs/fusion-for-depositors/user-guide/tracking-your-position.md) - [Tracking Your Fusion Points](https://ipor.io/docs/fusion-for-depositors/user-guide/tracking-your-position/tracking-your-fusion-points.md) - [Vault Fees](https://ipor.io/docs/fusion-for-depositors/user-guide/vault-fees.md) - [Management Fee](https://ipor.io/docs/fusion-for-depositors/user-guide/vault-fees/management-fee.md) - [Performance Fee](https://ipor.io/docs/fusion-for-depositors/user-guide/vault-fees/performance-fee.md) - [Onboarding and Offboarding Contributions](https://ipor.io/docs/fusion-for-depositors/user-guide/vault-fees/onboarding-and-offboarding-contributions.md) - [Risks](https://ipor.io/docs/fusion-for-depositors/user-guide/risks.md) - [FAQ: Vault Pauses](https://ipor.io/docs/fusion-for-depositors/user-guide/faq-vault-pauses.md) ## Build on Fusion - [Fusion Introduction](https://ipor.io/docs/build-on-fusion.md): What IPOR Fusion is, who this documentation is for, and how onchain and offchain responsibilities split between vaults and Alphas. - [Fusion for agents](https://ipor.io/docs/build-on-fusion/fusion-for-agents.md): Router page for AI agents: which Fusion interface (MCP, SDK, API) to use for which task, plus the minimal vault-creation example. - [General](https://ipor.io/docs/build-on-fusion/architecture-overview/general.md): High-level map of the Fusion architecture: how vaults, fuses, Atomists and Alphas fit together. - [What is a Fusion vault?](https://ipor.io/docs/build-on-fusion/architecture-overview/what-is-a-fusion-vault.md): The Plasma Vault's implemented standards (ERC-4626, ERC-20, OZ Votes, Access Manager), redemption delay, rewards, fees and configuration surface. - [What is a Fuse?](https://ipor.io/docs/build-on-fusion/architecture-overview/what-is-a-fuse.md): What a Fuse is, how it adapts vault calls to an external protocol, and the fuse whitelist registry. - [What is an Atomist?](https://ipor.io/docs/build-on-fusion/architecture-overview/what-is-an-atomist.md): The Atomist role: who configures a vault's risk and market boundaries. - [What is an Alpha?](https://ipor.io/docs/build-on-fusion/architecture-overview/what-is-an-alpha.md): The Alpha role: who executes strategy transactions within an Atomist's configured boundaries. - [Benefits for Atomists](https://ipor.io/docs/build-on-fusion/atomists/benefits-for-atomists.md): Why an asset manager would run their strategy as a Fusion vault instead of building custom infrastructure. - [Vault configuration step-by-step](https://ipor.io/docs/build-on-fusion/atomists/vault-configuration-step-by-step.md): The full vault setup guide: fuses, substrates, price oracle, pre-hooks, scheduled withdrawals, instant withdrawal order and fees. - [Access Management](https://ipor.io/docs/build-on-fusion/atomists/vault-configuration-step-by-step/access-management.md): How OpenZeppelin Access Manager governs vault roles, and how to grant, revoke and time-lock them. - [Timelocks and Execution Delays](https://ipor.io/docs/build-on-fusion/atomists/vault-configuration-step-by-step/timelocks-and-execution-delays.md): How execution delays protect depositors from unilateral configuration changes, and how to size them. - [Timelocks and Execution Delays: Developer Reference](https://ipor.io/docs/build-on-fusion/atomists/vault-configuration-step-by-step/timelocks-and-execution-delays/timelocks-and-execution-delays-developer-reference.md): Contract-level reference for configuring and reading timelock parameters. - [Vault Governance & Depositor-Led Security Best Practices](https://ipor.io/docs/build-on-fusion/atomists/vault-configuration-step-by-step/vault-governance-and-depositor-led-security-best-practices.md): Role hierarchy, execution delays and an optional Aragon Depositor DAO for checks and balances against a compromised or malicious Owner. - [Substrates](https://ipor.io/docs/build-on-fusion/atomists/vault-configuration-step-by-step/substrates.md): What substrates are and how they scope which assets and markets a fuse is allowed to touch. - [Vault Ownership Changes](https://ipor.io/docs/build-on-fusion/atomists/vault-configuration-step-by-step/vault-ownership-changes.md): How to safely transfer or rotate the Owner and other administrative roles on a live vault. - [Curating a Fusion vault](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault.md): Ongoing vault-curation topics: share price, contributions, performance, oracle choice, caps and market impact. - [Share Price Dynamics](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/share-price-dynamics.md): A Guide (not only) for Atomists - [On- and Offboarding Contributions](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/on-and-offboarding-contributions.md): How to handle depositors' contributions moving into and out of the vault's accounting. - [Understanding Performance of a Vault](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/understanding-performance-of-a-vault.md): How to read and interpret a Fusion vault's realized performance. - [Choosing the right price oracle](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/choosing-the-right-price-oracle.md): This document is intended to serve as a decision-making aid for Atomists when selecting the appropriate price oracle. - [Asynchronous Reward Compounding](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/asynchronous-reward-compounding.md): How reward claiming and compounding work when they can't happen atomically with a strategy action. - [Dependency Graphs](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/dependency-graphs.md): How Fusion's cached balance dependency graph works and when to configure it for a market. - [Integration Maintenance and Deprecation](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/integration-maintenance-and-deprecation.md): How to safely wind down or replace a protocol integration a vault depends on. - [Managing Redemption Delays](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/managing-redemption-delays.md): How the mandatory deposit-to-redemption delay works and how to configure it against sandwich attacks. - [Deposit Caps](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/deposit-caps.md): Why and how to cap total vault deposits. - [Economics of Deposit Caps](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/deposit-caps/economics-of-deposit-caps.md): The economic reasoning for choosing a specific deposit cap. - [Yield Scalability and Market Impact](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/yield-scalability-and-market-impact.md): How a strategy's yield degrades as vault size grows, and how to plan around market impact. - [Integrating Pendle PT Tokens](https://ipor.io/docs/build-on-fusion/atomists/curating-a-fusion-vault/integrating-pendle-pt-tokens.md): Considerations specific to holding and pricing Pendle PT tokens in a Fusion vault. - [Benefits for Alphas](https://ipor.io/docs/build-on-fusion/alpha/benefits-for-alphas.md): Why running strategy execution as an Alpha (automation, risk management, IP protection) beats manual operation. - [Running an Alpha](https://ipor.io/docs/build-on-fusion/alpha/running-an-alpha.md): Manual vs. automated Alpha operation, the SDK-driven transaction path, and handling accrued points. - [Best Practices for Alphas](https://ipor.io/docs/build-on-fusion/alpha/running-an-alpha/best-practices-for-alphas.md): Gas efficiency, leveraged-looping risk, accounting, withdrawal orchestration and security practices for an Alpha bot. - [SDK](https://ipor.io/docs/build-on-fusion/alpha/sdk.md): Install, connect and execute with the Python SDK; the CLI, MCP server, agent skills, examples and module reference. - [Quick Start Guide](https://ipor.io/docs/build-on-fusion/developer-guide/quick-start-guide.md): Video walkthrough of creating and configuring a vault via the webapp, plus the SDK/agent path for programmatic deployment. - [MCP](https://ipor.io/docs/build-on-fusion/developer-guide/mcp.md): Connect to the hosted Fusion MCP server: tools, resources, prompts and a worked example for inspecting vaults. - [Deploy your first Fusion vault](https://ipor.io/docs/build-on-fusion/developer-guide/deploy-your-first-fusion-vault.md): The executed eleven-transaction SDK walk to clone, configure and fund a Fusion vault from scratch. - [Addresses](https://ipor.io/docs/build-on-fusion/developer-guide/addresses.md): Canonical IporFusionFactoryProxy addresses per chain, verified against the ipor-abi registry. - [Common Errors](https://ipor.io/docs/build-on-fusion/developer-guide/common-errors.md): Revert selectors and the role table for the errors most likely to block a Fusion vault deployment. - [Smart Contracts](https://ipor.io/docs/build-on-fusion/developer-guide/smart-contracts.md): DeepWiki-hosted architecture reference for the ipor-fusion smart contracts. - [Integrating a New Market](https://ipor.io/docs/build-on-fusion/integrating-a-new-market.md): Add a protocol to IPOR Fusion as a new market, whether it is your own protocol or one you integrate for another team: write and deploy the fuses, open a market id pull request, and IPOR reviews the fuses for the Fuse Whitelist Registry. - [What a Market Integration Contains](https://ipor.io/docs/build-on-fusion/integrating-a-new-market/market-components.md): The components of a new market integration: action fuses, a balance fuse, claim fuses, a substrate library, price feeds and a market id, with the reference families to copy from. - [Developing a Fuse](https://ipor.io/docs/build-on-fusion/developer-guide/developing-a-fuse.md): Anatomy of an action fuse and its balance fuse, shown on the ERC4626 supply fuse: data structs, enter, exit, transient variants, instant withdraw, events and errors. - [Coding Standard](https://ipor.io/docs/build-on-fusion/integrating-a-new-market/coding-standard.md): What IPOR requires from the code of a third-party fuse family: structure, statelessness, safety checks, errors, events, NatSpec, compiler settings and formatting, plus recommended tests. - [Security Requirements](https://ipor.io/docs/build-on-fusion/integrating-a-new-market/security-requirements.md): Security requirements for the fuses of a new market: vault control of positions, limits on every action, allowances, valuation without silent failures, price sources, venue risks and what the IPOR team does not accept. - [Whitelist Review](https://ipor.io/docs/build-on-fusion/integrating-a-new-market/whitelist-review.md): How to request a Fuse Whitelist Registry entry for a new market: the market id pull request, a copyable pull request description, the review request on Discord, the review, the possible outcomes and what happens after the entry. - [Balance Fuses](https://ipor.io/docs/build-on-fusion/developer-guide/balance-fuses.md): What a Balance Fuse tracks and how it pairs with a Functional Fuse for a market. - [General share price calculation rules](https://ipor.io/docs/build-on-fusion/developer-guide/general-share-price-calculation-rules.md): How a Plasma Vault's share price is computed and what can move it. - [Accounting and PPS Protection](https://ipor.io/docs/build-on-fusion/developer-guide/accounting-and-pps-protection.md): How the vault protects its price-per-share against manipulation and accounting edge cases. - [Price Oracle Middleware](https://ipor.io/docs/build-on-fusion/developer-guide/price-oracle-middleware.md): How the price oracle middleware resolves asset prices and how to add or override a feed. - [Pause Functionality](https://ipor.io/docs/build-on-fusion/developer-guide/pause-functionality.md): What pausing a vault does, who can trigger it, and its effect on in-flight operations. - [Configuring Pre-hooks](https://ipor.io/docs/build-on-fusion/developer-guide/configuring-pre-hooks.md): How to attach pre-execution validation hooks (e.g. rate limits, price checks) to vault functions. - [Security and Audits](https://ipor.io/docs/build-on-fusion/developer-guide/security-and-audits.md): IPOR's internal QA process, AI-assisted audit tooling, and the list of completed third-party audits with scope and reports. - [Open-source Repository](https://ipor.io/docs/build-on-fusion/developer-guide/open-source-repository.md): Where the Fusion smart-contract source lives and how it's licensed. - [API](https://ipor.io/docs/build-on-fusion/developer-guide/api.md): Base URL, endpoints, address-casing and error-format details for calling the public Fusion API directly. ## Fusion for Institutions - [Executive Summary: The Prime Brokerage Protocol of DeFi](https://ipor.io/docs/fusion-for-institutions.md) - [Institutional-Grade Infrastructure](https://ipor.io/docs/fusion-for-institutions/institutional-grade-infrastructure.md) - [Governance & Operational Control](https://ipor.io/docs/fusion-for-institutions/governance-and-operational-control.md) - [Programmable Risk & Circuit Breakers](https://ipor.io/docs/fusion-for-institutions/programmable-risk-and-circuit-breakers.md) - [Lifecycle & Liquidity Management](https://ipor.io/docs/fusion-for-institutions/lifecycle-and-liquidity-management.md) - [Institutional Fee Structures & Performance Tracking](https://ipor.io/docs/fusion-for-institutions/institutional-fee-structures-and-performance-tracking.md) - [Enterprise Features & Compliance Controls](https://ipor.io/docs/fusion-for-institutions/enterprise-features-and-compliance-controls.md) - [Regulatory Alignment (MiCA & Global Standards)](https://ipor.io/docs/fusion-for-institutions/regulatory-alignment-mica-and-global-standards.md) ## Governance and Tokenomics - [Overview](https://ipor.io/docs/dao-governance.md) - [$FUSN Snapshot FAQ](https://ipor.io/docs/dao-governance/tokenomics/usdfusn-snapshot-faq.md) - [$IPOR Token (Legacy)](https://ipor.io/docs/dao-governance/tokenomics/usdipor-token-legacy.md) - [$IPOR Token](https://ipor.io/docs/dao-governance/tokenomics/usdipor-token-legacy/usdipor-token.md) - [Token distribution model](https://ipor.io/docs/dao-governance/tokenomics/usdipor-token-legacy/token-distribution-model.md) - [Fusion DAO Governance](https://ipor.io/docs/dao-governance/dao-governance/fusion-dao-governance.md) - [Discord - All Channels](https://ipor.io/docs/dao-governance/dao-governance/discord-all-channels.md) - [Discord - Open Governance Forum](https://ipor.io/docs/dao-governance/dao-governance/discord-open-governance-forum.md) - [Discord - Formal Governance](https://ipor.io/docs/dao-governance/dao-governance/discord-formal-governance.md) - [Snapshot - Formal Governance](https://ipor.io/docs/dao-governance/dao-governance/snapshot-formal-governance.md) - [Governing Multisig wallets](https://ipor.io/docs/dao-governance/dao-governance/governing-multisig-wallets.md) ## Resources - [Glossary of Terms](https://ipor.io/docs/resources.md) - [Research and Whitepapers](https://ipor.io/docs/resources/resources/research-and-whitepapers.md) - [IPOR Conceptual Whitepaper](https://ipor.io/docs/resources/resources/research-and-whitepapers/ipor-conceptual-whitepaper.md) - [Brand Assets](https://ipor.io/docs/resources/resources/brand-assets.md) ## Archived > IPOR Derivatives is closed: new swaps have been paused since 2 April 2026. These pages are kept for reference only; for current products see the sections above. ### IPOR Derivatives - [The IPOR Protocol Introduction](https://ipor.io/docs/ipor-derivatives.md) - [About IPOR](https://ipor.io/docs/ipor-derivatives/who-uses-ipor-and-for-what.md) - [About the IPOR Protocol](https://ipor.io/docs/ipor-derivatives/ipor-faq/about-the-ipor-protocol.md) - [Using the IPOR Protocol](https://ipor.io/docs/ipor-derivatives/ipor-faq/using-the-ipor-protocol.md) - [Swaps VS Perps](https://ipor.io/docs/ipor-derivatives/ipor-faq/swaps-vs-perps.md) - [What is the IPOR Index](https://ipor.io/docs/ipor-derivatives/ipor-index/what-is-the-ipor-index.md) - [Working with the IPOR Index](https://ipor.io/docs/ipor-derivatives/ipor-index/working-with-the-ipor-index.md) - [IPOR stETH Index](https://ipor.io/docs/ipor-derivatives/ipor-index/ipor-steth-index.md) - [Interest Rate Derivative](https://ipor.io/docs/ipor-derivatives/interest-rate-derivatives/interest-rate-derivative.md) - [Index Calculation](https://ipor.io/docs/ipor-derivatives/interest-rate-derivatives/index-calculation.md) - [IPOR Publication](https://ipor.io/docs/ipor-derivatives/interest-rate-derivatives/ipor-publication.md) - [IBT](https://ipor.io/docs/ipor-derivatives/interest-rate-derivatives/ibt.md): Interest Bearing Token - [Indicative Term Sheet](https://ipor.io/docs/ipor-derivatives/interest-rate-derivatives/indicative-term-sheet.md): Here is an example of how an indicative term sheet might look for an IPOR IRS if it were to be issued in TradFi: - [The Automated Market Maker](https://ipor.io/docs/ipor-derivatives/automated-market-maker/the-automated-market-maker.md): This page describes the automated market maker - [Liquidity Provisioning](https://ipor.io/docs/ipor-derivatives/automated-market-maker/liquidity-provisioning.md) - [IPOR Swaps](https://ipor.io/docs/ipor-derivatives/automated-market-maker/ipor-swaps.md) - [Hedging example with Morpho protocol](https://ipor.io/docs/ipor-derivatives/automated-market-maker/ipor-swaps/hedging-example-with-morpho-protocol.md): Below is an illustrative example of how to create a simple fixed rate borrow using the Morpho and IPOR protocols - [Spread](https://ipor.io/docs/ipor-derivatives/automated-market-maker/spread.md) - [Math behind the demand spread](https://ipor.io/docs/ipor-derivatives/automated-market-maker/spread/math-behind-the-demand-spread.md) - [Risk oracle](https://ipor.io/docs/ipor-derivatives/automated-market-maker/risk-oracle.md) - [SOAP](https://ipor.io/docs/ipor-derivatives/automated-market-maker/soap.md) - [Liquidations](https://ipor.io/docs/ipor-derivatives/automated-market-maker/liquidations.md) - [Asset Management](https://ipor.io/docs/ipor-derivatives/automated-market-maker/asset-management.md) - [Deployed Contracts](https://ipor.io/docs/ipor-derivatives/developers-docs/deployed-contracts.md) - [Ethereum](https://ipor.io/docs/ipor-derivatives/developers-docs/deployed-contracts/contracts-overview.md) - [Arbitrum](https://ipor.io/docs/ipor-derivatives/developers-docs/deployed-contracts/arbitrum.md) - [Base](https://ipor.io/docs/ipor-derivatives/developers-docs/deployed-contracts/arbitrum-1.md) - [Audits](https://ipor.io/docs/ipor-derivatives/developers-docs/audits.md) - [Working with IPOR Router](https://ipor.io/docs/ipor-derivatives/developers-docs/working-with-ipor-router.md) - [ABI](https://ipor.io/docs/ipor-derivatives/developers-docs/abi.md) - [V2 changes](https://ipor.io/docs/ipor-derivatives/developers-docs/v2-changes.md) - [IPOR Oracle](https://ipor.io/docs/ipor-derivatives/developers-docs/ipor-oracle.md) - [Decentralizing IPOR](https://ipor.io/docs/ipor-derivatives/developers-docs/decentralizing-ipor.md) - [Configuration Parameters](https://ipor.io/docs/ipor-derivatives/developers-docs/decentralizing-ipor/configuration-parameters.md)