> For the complete documentation index, see [llms.txt](https://docs.mangrove.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.mangrove.exchange/dev/vaults/understanding-vaults.md).

# Understanding vaults

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The vaults smart contracts are under [this repository](https://github.com/mangrovedao/mangrove-vault/tree/main). They have been audited by Nethermind and cantina and are a way to manage a concentrated liquidity position on behalf of users.

These vaults take full advantage of the flexibility of Mangrove by depositing funds to whichever protocol of choice, instead of keeping the underlying. Existing integrations include AAVE and ERC4626 vaults.