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ADR-0052026-05-12

Coffer single-vault per collateral type, not per position

Context
Two patterns were possible: one Coffer vault for all collateral, or per-instrument/per-position vaults.
Decision
One Coffer vault per supported collateral type (USDC for v1; USDT and ETH later).
Alternatives
Per-position vaults (rejected: defeats the cross-margin purpose). A single multi-asset vault (rejected: the ERC-4626 spec is single-asset).
Consequences
Simpler accounting, standard ERC-4626 compatibility, cross-margin is natural.