Shares
Every Bob vault has its own ERC-20 token called a BobVaultShare.
Unlike Lockup and Flow which use ERC-721 NFTs to represent positions, Bob uses ERC-20 tokens. Shares represent a user's
claim on the vault's underlying tokens and any accrued yield.
Minting and Burning
When a user deposits tokens via enter, shares are minted 1:1
with the deposit amount. When a user calls redeem, their shares
are burned and the underlying tokens are returned.
These shares are fully transferable ERC-20 tokens. You can transfer them to other wallets. You can only redeem as long as you hold these shares.
When shares are transferred between users, any yield generated by the vault can only be claimed by the new recipient of the shares.
Token Metadata
Each vault's share token uses the following algorithm to generate its name and symbol:
| Field | Format | Example |
|---|---|---|
| Name | Sablier Bob {TOKEN} Vault #{vaultId} | Sablier Bob WETH Vault #1 |
| Symbol | {TOKEN}-{targetPrice}-{expiry}-{vaultId} | WETH-500000000000-1735689600-1 |
| Decimals | Same as the underlying token | 18 (for WETH) |
This can help users identify what vault a share token represents by simply looking at them on Etherscan. For example,
WETH-500000000000-1735689600-1 represents a WETH vault with ID 1, a target price of $5,000, and an expiry of
2025-01-01.