# Flows

## Manual Settlement

Settlement Cycles are a planned period between settlements of deposit and redemption requests. By default Settlement Cycles are not enforced on-chain and are executed manually by a operator role. Operator needs to liquidate the assets to meet the redemption demands and send them to the fund contract before executing the settlement.

This is a conscious design choice, as we have validated that investors are willing to wait to settle their positions for multiple days if their vault has the potential to achieve better performance due to being able to leverage the full DeFi potential.

{% hint style="info" %}
Settlement can also be achieved through submitting governance proposals.
{% endhint %}

## Automated Settlement

Custom scripts or contracts may be built to support automated settlement for a given strategy. In that case, the vault would delegate the execution of that specific automation, given that they trust it. Similarly to manual execution, the automation would need to liquidate positions and ensure there's enough liquidity in the fund contract, before executing settlement. Atomic transactions may be used for this specific use case.


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