> For the complete documentation index, see [llms.txt](https://docs.sierra.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.sierra.money/protocol-use-cases/deploying-a-permissionless-vault.md). # Deploying a Permissionless Vault **Designed for:** Asset managers, RWA originators, fintechs, trading firms and exchanges bringing their own assets or yield strategy onchain\ \ Issuing Partners define the Vault's reserve management strategy, backed by any combination of yield sources across RWAs and DeFi. Sierra provides the smart contracts, legal structuring, custody, and reporting infrastructure to deploy the permissionless vault.\ \ Vault depositors receive a standard ERC-20 vault token that accrues yield through exchange rate appreciation. Underlying reserves are custodied using Fireblocks MPC and deployed into the OpenTrade SPC, with RWAs custodied at Tier 1 GSIBs. Partners can retain full control over the Vault's branding and fees. Issuing Partners have the option to increase functionality of the Permissionless Vault into a full-scale [Liquid Vault Token](/protocol-use-cases/issuing-a-liquid-vault-token.md). --- # 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://docs.sierra.money/protocol-use-cases/deploying-a-permissionless-vault.md?ask=&goal= ``` `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.