The ERC-4626 tokenized vault standard is a standard protocol for tokenized vaults and is built on the ERC-20 token standard. The standard was created to unify the technical parameters of yield-bearing vaults, making development, integration, and interoperability easier for vaults. It is meant to consolidate and standardize development efforts around “ERC-20 token strategies” such as borrowing & lending, farming, and staking. 
The Tokenized Vault Standard, ERC-4626 officially went live on March 18, 2022. The Ethereum Comment Proposal 4626 for the ERC-4626 standard was created by Joey Santoro — founder of Fei Protocol, who partnered with Ethereum developers transmissions11, Jet Jadeja, Alberto Cuesta Cañada, and Señor Doggo.
The lack of standardization for tokenized vaults presents challenges in integration and composability. Without a standard implementation, protocols must create their own adapters for lending markets, aggregators, and other interest-bearing tokens, resulting in errors, increased attack risks, and wasted development resources. Establishing a standard for tokenized vaults would streamline integration efforts, leading to more consistent and secure implementation patterns.
ERC-4626 was developed with the goal of creating a standard that enhances composability and interoperability. To simplify the integration of yield-bearing tokens and address vulnerabilities, the team opted for a scalable and user-friendly approach. 
The 4626 Alliance is a group of leading protocols and applications that share the mission of supporting the development and deployment of
The Alliance group was created to foster collaboration between DeFi projects and push the adoption of the ERC-4626 standard. Members of the 4626 Alliance establish a common bounty board for “4626 essentials.” They are voted on/built individually/jointly by members of the Alliance. 
The Alliance Group also funds a common vehicle to distribute the costs and outsource through bounties the development of these “4626 essentials.” Each member of the Alliance commits $3k or more for this purpose. Alliances are also responsible for promoting the ERC-4626 standard through publication and events, and lastly, they create and maintain an open-source ERC-4626 resource library. 
Members of the 4626 Alliance include:
- Beefy Finance
- Frax Finance
- Sommelier Finance
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