> For the complete documentation index, see [llms.txt](https://qiro.gitbook.io/qiro-vaults/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://qiro.gitbook.io/qiro-vaults/technical-overview/protocol.md).

# Protocol

The contracts a Qiro vault is built from, and who is permitted to call them.

A Qiro vault is a small set of purpose-built contracts, deployed per vault and immutable once live. These pages describe them.

* [Flow of Funds](/qiro-vaults/technical-overview/protocol/flow-of-funds.md): the path capital takes from an investor to a borrower and back.
* [Smart Contract Architecture](/qiro-vaults/technical-overview/protocol/smart-contract-architecture.md): each contract, what it is responsible for, and how they are wired together, with the deployment, redemption and valuation flows.
* [Protocol Actors](/qiro-vaults/technical-overview/protocol/protocol-actors.md): every role, what it can and cannot do, and which powers sit behind a timelock.

For the economic model these contracts implement, see [NAV & Valuation](/qiro-vaults/core-concepts/nav-and-valuation.md) and [Fees](/qiro-vaults/core-concepts/fees.md).