> For the complete documentation index, see [llms.txt](https://etherfi.gitbook.io/etherfi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://etherfi.gitbook.io/etherfi/products/liquid.md).

# Liquid

## Overview <a href="#overview" id="overview"></a>

Liquid vaults are automated DeFi strategies that give ether.fi users a simple access point to put their assets to work across the DeFi ecosystem. Users deposit a supported asset and, behind the scenes, the vault allocates across a diversified set of DeFi positions.

As DeFi integrations grow in number, it becomes challenging to keep up with the best opportunities. Some opportunities, such as concentrated liquidity on Uniswap V3, also require specific expertise to maximize performance. Liquid vaults remove that complexity by handling allocation, integration, and rebalancing automatically, so the vaults stay competitive as the market evolves and new protocols are added over time.

## How Liquid is built

ether.fi's live Liquid vaults are built on one of two infrastructure providers:

* **Veda (BoringVault architecture)** — the majority of Liquid vaults. Non-upgradeable core contracts, modular components, strict role separation, and Merkle-constrained strategies. See [Veda Vault Architecture](/etherfi/products/liquid/veda-vault.md).
* **Midas** — used for RWA and reserve-style vaults. See [Midas Vault Architecture](/etherfi/products/liquid/midas-vault.md).

## In this section

* [Veda Vault Architecture](/etherfi/products/liquid/veda-vault.md) — how the Veda BoringVault vaults work
* [Midas Vault Architecture](/etherfi/products/liquid/midas-vault.md) — how the Midas vaults work
* [Live Vaults](/etherfi/products/liquid/live-vaults.md) — the vaults that are currently live and accepting deposits
* [Deprecated Vaults](/etherfi/products/liquid/deprecated-vaults.md) — vaults that are no longer active, kept for reference
* [FAQs](/etherfi/products/liquid/faqs.md) — common questions about Liquid


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://etherfi.gitbook.io/etherfi/products/liquid.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.