Taler

Taler is a vault protocol on Ethereum mainnet that wraps strategies into standardised shares: users deposit assets and receive a token representing their share, redeemed later at the prevailing net asset value. Its flagship product, TLO, is the share token of the protocol's own vault, with a strategy tilted toward lower-risk on-chain yield aggregation.

The architecture has four layers: VaultFactory creates vaults and registers parameters; AdapterRegistry maintains the whitelist of strategy adapters; OracleMiddleware feeds external prices into valuation and liquidation; and AsyncRedemptionModule queues and settles large redemptions so an instant exit does not hit net asset value. On the cross-chain side it connects to NEAR Intents, letting users on other networks submit an intent that solvers fulfil before assets enter the vault. Shares are transferable on-chain, net asset value updates per block, and fee and strategy parameters are set by governance.