ERC-7540 is the standard for vaults that cannot settle on the spot. It extends ERC-4626 with requests: a deposit or a redemption is filed with the vault, settled by its manager when the strategy can honor it, and then claimed by whoever filed it. It is how curated vaults that run real strategies, across venues, chains and time, stay legible: the share is still a token with a price, and every request has a state anyone can read.

The standard keeps the parts of 4626 that make a vault trustworthy. The vault publishes its asset and what a share is worth, and a request moves through pending and claimable states the vault answers for onchain. On Base, Superform's SuperVaults speak it: deposits mint shares at the stored price in the same call, and redemptions are requests the strategy fulfills into the vault's escrow for the owner to claim.

That design is what lets a strategist run size without a run on the vault, and it is also what makes holding one by hand tedious. A redemption is a request you have to remember to file, then watch until it is fulfilled, then remember to claim. The share price moves with every update the manager posts, and the moment to rotate rarely arrives while you are watching.

Every state an ERC-7540 vault publishes is a step in a plug: the share price, what is pending, what is claimable. A redemption is requested when a condition is met, and the claim fires the block the vault fulfills it, without anyone checking back.

Idle assets deposited the block they land. An exit requested the moment the share price crosses the line you drew. A claim that waits on the vault and lands as soon as it can. Asynchronous vaults reward the holders who act on every state change, and a plug acts on all of them.