Shift

Shift provides automated USDC yield strategies using perpetual-DEX funding, basis-trading and stablecoin positions. The reviewed vaults are custom ERC-20 ShiftVault share contracts: they do not implement ERC-4626.

The integration uses a chain-aware hardcoded registry for the published ltPARA and extUSD Base vaults and the ltLLP Arbitrum vault. This lets discovery track deployments that cannot be identified through ERC-4626 event or interface probes. Its historical reader combines getSharePrice() from Shift’s TVL feed with ERC-20 total supply to calculate TVL. A zero share price denotes a stale feed, not a reliable zero-TVL valuation.

Dealing and risks

Shift vaults are DeFi vaults, rather than legally structured tokenised funds. Investor admission follows each contract’s whitelistEnabled() setting: when disabled, any account can request a deposit. Administrators can enable the allow-list later, and individual membership has no public getter.

Deposit requests need oracle valuation validation before completion. Withdrawals are executor-batch resolved and are subject to a timelock measured from the withdrawal request. These settlement dependencies do not establish investor KYC or private admission. The adapter supports valuation reads; transaction automation remains unimplemented for both directions. Fees are read from the vault and represented as treasury-minted fee shares. Shift’s FAQ documents strategy-dependent 0–2% annual management fees, 0–20% performance fees and withdrawal processing that may take up to seven days.

Classification repair

Older metadata incorrectly labelled all three reviewed Shift deployments as tokenised funds with whitelisted deposits. The metadata-only repair validates the exact chain/address pairs and reads current admission and closure policy. It preserves unrelated metadata, historical prices, reader state and timestamp caches. Writes take the scanner lock, back up the existing pickle and replace it atomically. Repeated runs with unchanged policy do not rewrite the file.

Use the scanner’s existing environment and mounted state. In a local checkout, source .local-test.env first; production maintenance must use the mounted state and configuration described in the repository’s production instructions.

DRY_RUN=true poetry run python scripts/erc-4626/fix-shift-vault-classification.py
DRY_RUN=false poetry run python scripts/erc-4626/fix-shift-vault-classification.py

VAULT_DB_PATH can select a copy of the metadata database for review. After applying the repair, refresh the public report using the existing exporter with the same pipeline data directory (DATA_DIR). Force the three Shift records through its metrics cache so the correction appears immediately:

poetry run python - <<'PY'
from eth_defi.erc_4626.vault_protocol.shift.constants import SHIFT_VAULT_PRODUCTS
from eth_defi.vault.base import VaultSpec
from eth_defi.vault.top_vaults_json import main

main(force_vault_ids={VaultSpec(chain_id, address).as_string_id() for chain_id, address in SHIFT_VAULT_PRODUCTS})
PY

No historical rescan is required. This refresh leaves the scanner’s reader state and historical observations intact.

`eth_defi.erc_4626.vault_protocol.shift.constants`	Published Shift vault deployment registry.
`eth_defi.erc_4626.vault_protocol.shift.descriptions`	Curated, deterministic descriptions for reviewed ShiftVault products.
`eth_defi.erc_4626.vault_protocol.shift.vault`	Read-only ShiftVault adapter.
`eth_defi.erc_4626.vault_protocol.shift.historical`	Historical valuation reads for ShiftVault products.