SohoVault is an ERC-4626 USDC vault. Lenders deposit USDC and receive vault shares. Settlement pays merchants from protocol liquidity, and a share of the protocol fee is directed back to the vault as yield.
On staging the vault is 0x817a2e8A167E46926C449c527B818d511Aa23ef8 on Base Sepolia.
What the vault is not
Borrowers do not deposit into this vault to create a credit line. An agent’s spending power is the borrower’s revolving facility: an off-chain limit, a reservation taken when a voucher is issued, and an on-chain debt balance that increases when a batch settles. That limit comes from verification and policy, not from a vault share balance. If you are integrating an agent or a merchant, you do not call the vault. If you are supplying liquidity, that is a separate lender relationship and it is not part of the agent or facilitator quickstart.Fee split inside the vault
Of the fee deducted from a V2 merchant payout, the settlement contract allocates 60% toward vault yield and 40% to the protocol fee recipient. That split is of the fee, not a fee rate. The rate itself is in Fees.Next steps
Fees
The rate and who pays it.
Trust model
What the chain enforces versus what the backend enforces.