# Vault Book

Vault Book is an interactive and text-first guide to DeFi lending and borrowing vaults.
The current release is Euler-first and explains vault structure, risk controls, parameters, oracle design, liquidations, lender risk, borrower risk, security posture, UX flows, and integration surfaces.

Canonical URL: https://www.thevaultbook.org
Text guide: https://www.thevaultbook.org/guide
Full AI-readable guide: https://www.thevaultbook.org/llms-full.txt
Sitemap: https://www.thevaultbook.org/sitemap.xml

Current protocol coverage:
- live: Euler — Modular credit vaults
- planned: Morpho — Optimized lending markets
- planned: Aave — Pooled liquidity markets

Recommended entrypoint for crawlers and agents:
- Read /guide for the crawlable HTML overview.
- Read /llms-full.txt for the plain-text chapter map.