> ## Documentation Index
> Fetch the complete documentation index at: https://sdk.avantisfi.com/llms.txt
> Use this file to discover all available pages before exploring further.

# LP Vault

> Provide USDC liquidity through the ERC-4626 tranche (avUSDC).

`client.lp` deposits USDC into the liquidity vault and receives avUSDC shares. v2 has no lock or epoch; withdrawals are immediate, gated only by vault utilization.

<Warning>
  LP actions are **caller-scoped**: the signing key is the LP account, and a delegate/API key cannot perform them. Use your own wallet key (no `AVANTIS_TRADER_ADDRESS`).
</Warning>

## One-time approval

The vault pulls from an allowance on the **tranche**, not TradingStorage:

```python theme={null}
meta = await client.meta()
await client.account.approve_usdc(1000, spender=meta["addresses"]["tranche"])
```

## Deposit and withdraw

```python theme={null}
await client.lp.deposit(1000)         # USDC in, shares to caller
await client.lp.withdraw(500)         # USDC out (utilization permitting)
```

Exact-share variants: `mint(shares)` and `redeem(shares)`. All four accept `receiver=` (and `owner=` for withdraw/redeem) for third-party flows, plus the usual `wait=`.

## Vault state

```python theme={null}
state = await client.lp.state()
# vault totals, share price, utilization, and YOUR max withdraw/redeem right now
```

If a withdrawal exceeds the current utilization headroom, check `state()["maxWithdraw"]` and retry with a smaller amount.

## Yield analytics

Historic returns come from the read-only info API:

```python theme={null}
await client.info.vault_returns()
await client.info.vault_share_rate_returns(chart=True)
await client.info.user_vault_info("junior", trader)
```