> For the complete documentation index, see [llms.txt](https://docs.vault.ky/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.vault.ky/resources/glossary.md).

# Glossary

**All-or-nothing.** The standard funding policy. A campaign must reach 100% of its goal by the deadline or contributions are automatically refunded.

**Campaign.** A funding request with a stated purpose, a goal in SOL, and a deadline.

**Charity campaign.** A campaign using the 20% minimum threshold instead of all-or-nothing. See [Charity campaigns](/campaigns/charity-campaigns.md).

**Contribution fee.** The 0.03% fee taken when you contribute. Non-refundable, and does not count toward the goal.

**Escrow.** The campaign-specific Solana account holding contributions while a campaign is active. Public and independently verifiable.

**Escrow address / funding address.** The public Solana address holding a campaign's contributions. You can send SOL to it directly, and you can inspect its balance on any block explorer.

**Fulfillment.** What happens to funds when a campaign succeeds — the money is used to fulfill the campaign's stated purpose. For service-backed campaigns, Vault purchases or arranges the associated deliverable. For beneficiary or charity structures, funds are directed per the campaign's disclosed terms.

**Funding policy.** The rule set determining whether a campaign succeeds. Either standard (all-or-nothing) or charity (20% minimum).

**Permissionless.** An instruction anyone can submit, not just Vault. Vault's state-progression and refund instructions are permissionless, so campaigns can advance and refunds can be recovered without Vault's infrastructure.

**Project identity.** The token or project a campaign supports, which may belong to any supported ecosystem. Distinct from custody — funding is always SOL on Solana.

**Refund processing fee.** The 2% fee applied to refundable principal when a campaign fails, capped per contributor at roughly a $20 equivalent fixed in SOL at campaign creation.

**Settlement.** The on-chain completion of a successful campaign, after which funds proceed to fulfillment. Irreversible once executed.

**SOL.** The native token of Solana. All Vault contributions are made in SOL.

**Tip.** An optional, opt-in amount added after a campaign reaches its goal. Non-refundable, does not count toward the goal, and can accelerate fulfillment past the waiting window.

**Waiting window.** A ten-minute pause after a standard campaign reaches its goal, before fulfillment can proceed. Charity campaigns skip it.


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