@@ -61,7 +61,7 @@ An exchange with no order book: swaps fill instantly against a shared liquidity
 
 A managed investment fund onchain, like an ETF or mutual fund. Investors deposit USDC for shares, a manager allocates the pool across a basket of assets (here, stocks like TSLAx and NVDAx), and each share's value tracks the fund's net asset value. The manager earns a management fee, and investors redeem a proportional slice of the underlying assets.
 
-[⚓ Anchor](./finance/vault-strategy/anchor)
+[⚓ Anchor](./finance/vault-strategy/anchor) [💫 Quasar](./finance/vault-strategy/quasar)
 
 ### Betting Market
 
 
@@ -0,0 +1,132 @@
+# Vault Strategy, Quasar port
+
+A tokenized multi-asset vault. A manager assembles a basket of whitelisted
+assets at target weights; anyone can deposit USDC and receive shares priced at
+the vault's net asset value, and each deposit is immediately deployed into the
+basket by swapping USDC into every asset at its weight. Withdrawals burn shares
+and redeem a proportional slice of every vault, paid in kind. This is the shape
+of an onchain index fund or a managed ETF.
+
+This is a [Quasar](https://github.com/blueshift-gg/quasar) port of the Anchor
+example in [`../anchor`](../anchor). It contains two programs, each its own
+Quasar project:
+
+- `vault-strategy/` - the vault itself (program ID
+  `VLT5W7bqhRN4nCdRpXm8UfHRxZd9EuZGqiSAkGHQfGh`).
+- `mock-swap-router/` - a stand-in constant-rate swap venue the vault trades
+  through (program ID `SWPR8Rk3aq3DrDGLdaANq7xCMnXoUFUJWJJmCWxc8Jm`).
+
+Both share the same program IDs as the Anchor build. The mock router mints an
+asset against USDC at an admin-set fixed rate, standing in for a real AMM or
+aggregator so the example is self-contained.
+
+## How it works
+
+A separate protocol authority curates a registry of assets, binding each
+approved mint to its official price feed. This authority is deliberately not the
+strategy manager: it vets which real assets and feeds are safe, and the manager
+only chooses among them, so a manager can never list a token they mint
+themselves or pair a real mint with a feed they control.
+
+- `initialize_registry` opens the registry; `whitelist_asset` approves a mint
+  and records its price feed.
+- A manager opens a basket with `initialize_strategy` (choosing a management fee
+  and a slippage tolerance), then adds whitelisted assets with `add_asset`, each
+  at a target weight in basis points. The weights must sum to 100% before the
+  vault accepts deposits, so every deposit is fully invested. `set_weight`
+  retunes a weight or retires an asset by setting it to zero.
+- `deposit` prices the incoming USDC against the vault's net asset value (the
+  USDC vault plus every asset vault valued at its oracle price), mints shares for
+  that fraction of the vault, and deploys the deposit across the basket by
+  swapping a weight-sized slice into each asset through the router. The first
+  deposit into an empty vault mints shares one-to-one.
+- `withdraw` burns shares and pays out a proportional slice of the USDC vault and
+  every asset vault, in kind.
+- `rebalance` lets the manager sell one asset for USDC and buy another with it,
+  keeping holdings near their targets as prices drift. Both legs are floored to
+  the oracle price so a bad swap route reverts.
+- `collect_fees` accrues the time-based management fee by minting fresh shares to
+  the manager, diluting holders at the configured annual rate.
+
+Every swap and rebalance leg is bounded by the registered price feed: the
+program computes the oracle-implied output and rejects any swap that falls short
+by more than the strategy's slippage tolerance.
+
+## Accounts and PDAs
+
+- **Registry** `["registry", authority]` and **WhitelistEntry**
+  `["whitelist", registry, mint]` - the curated asset set and each approved
+  mint's price feed.
+- **Strategy** `["strategy", index]` - one basket, addressed by a counter. Holds
+  the manager, registry, share mint, USDC mint, router, fee, slippage, total
+  shares, and running weight sum. The Strategy PDA is the authority of the share
+  mint and every vault, so the program signs all mints and payouts.
+- **AssetConfig** `["asset", strategy, index]` - one basket asset (mint, copied
+  price feed, vault, target weight). The set is the contiguous range
+  `0..asset_count`, so a valuation can re-derive every asset and refuse to
+  proceed if one is missing.
+- **Share mint** `["share_mint", strategy]`, **USDC vault**
+  `["usdc_vault", strategy]`, and per-asset vaults `["asset_vault", strategy, index]`.
+
+`deposit` and `withdraw` reference every asset at once, so the client passes the
+per-asset accounts as remaining accounts (five per asset for deposit, four for
+withdraw), in index order.
+
+## Safety and custody
+
+- Deposited USDC and every asset sit in program-owned vaults whose authority is
+  the Strategy PDA; only the deployed program can move them, and it does so only
+  along deposit, withdraw, and rebalance. There is no manager path to withdraw
+  holdings, only to trade them within the basket or collect the configured fee.
+- The share supply is updated before any mint or burn (checks-effects-
+  interactions), and value computations use u128 intermediates with checked
+  arithmetic, flooring in the vault's favour.
+- The management fee is capped (10% per year) and the slippage tolerance is
+  capped (10%), so neither can be configured to drain the vault.
+- Price feeds are validated against the address recorded on the asset config and
+  rejected if stale or non-positive.
+
+## What the Quasar port does differently
+
+The valuation, fee, and swap-floor math are identical to the Anchor build. The
+differences follow from Quasar's model:
+
+- **The cross-program swap is built by hand.** Anchor generates a typed CPI
+  client (`mock_swap_router::cpi::*`); Quasar has no such generation, so each
+  swap is a `CpiDynamic` call whose account list and instruction data the vault
+  constructs directly. The router's instruction wire format (a one-byte
+  discriminator plus two little-endian u64s) is encoded inline.
+- **The oracle and foreign token accounts are read by raw byte offset** through
+  `UncheckedAccount` views, the same field layout the Anchor build parses.
+- **Pool vaults are program-derived token accounts** rather than associated
+  token accounts, matching the other Quasar finance examples.
+- **The share mint carries no freeze authority** (it is never used); the Anchor
+  build sets it to the strategy PDA.
+
+## Building and testing
+
+Requires the [Solana toolchain](https://docs.anza.xyz/cli/install) and the
+[Quasar CLI](https://github.com/blueshift-gg/quasar). Build both programs before
+testing, because the deposit test loads the router's compiled `.so`:
+
+```sh
+cargo install --git https://github.com/blueshift-gg/quasar quasar-cli --locked
+(cd mock-swap-router && quasar build)
+(cd vault-strategy && quasar build)
+(cd mock-swap-router && cargo test)
+(cd vault-strategy && cargo test)
+```
+
+The router suite (`mock-swap-router/src/tests.rs`) exercises initialize, set-rate,
+and a USDC-for-asset swap. The vault suite (`vault-strategy/src/tests.rs`) drives
+the manager setup (registry, whitelist, strategy, add asset) and a two-program
+deposit that deploys USDC into the basket through the router CPI, asserting share
+minting, vault balances, and treasury flow.
+
+## Extending
+
+- Multiple assets per basket (up to the 16-asset cap) with a v0 transaction plus
+  an Address Lookup Table for the larger account list.
+- A real AMM or aggregator in place of the mock router.
+- Deposit and withdraw fees in addition to the time-based management fee.
+- Rebalance automation driven by weight drift beyond a threshold.
@@ -0,0 +1,34 @@
+[package]
+name = "quasar-mock-swap-router"
+version = "0.1.0"
+edition = "2021"
+
+# Standalone workspace - Quasar uses a different resolver and dependency tree.
+[workspace]
+
+[lints.rust.unexpected_cfgs]
+level = "warn"
+check-cfg = [
+    'cfg(target_os, values("solana"))',
+]
+
+[lib]
+crate-type = ["cdylib", "lib"]
+
+[features]
+alloc = []
+client = []
+debug = []
+
+[dependencies]
+# Pinned to match the finance/escrow Quasar example (623bb70 is the last rev
+# before a zeropod 0.3 bump that breaks quasar-spl). Unpin once upstream fixes it.
+quasar-lang = { git = "https://github.com/blueshift-gg/quasar", rev = "623bb70" }
+quasar-spl = { git = "https://github.com/blueshift-gg/quasar", rev = "623bb70" }
+solana-address = { version = "2.2.0" }
+solana-instruction = { version = "3.2.0" }
+
+[dev-dependencies]
+quasar-svm = { git = "https://github.com/blueshift-gg/quasar-svm" }
+spl-token-interface = { version = "2.0.0" }
+solana-program-pack = { version = "3.1.0" }
@@ -0,0 +1,22 @@
+[project]
+name = "quasar_mock_swap_router"
+
+[toolchain]
+type = "solana"
+
+[testing]
+language = "rust"
+
+[testing.rust]
+framework = "quasar-svm"
+
+[testing.rust.test]
+program = "cargo"
+args = [
+    "test",
+    "tests::",
+]
+
+[clients]
+path = "target/client"
+languages = ["rust"]
@@ -0,0 +1,12 @@
+use quasar_lang::prelude::*;
+
+/// Program errors. Codes start at 6000 to match Anchor's custom-error base.
+#[error_code]
+pub enum RouterError {
+    ZeroRate = 6000,
+    SlippageExceeded,
+    InvalidAssetMint,
+    MathOverflow,
+    WrongUsdcMint,
+    ZeroAmount,
+}
@@ -0,0 +1,32 @@
+use quasar_lang::prelude::*;
+use quasar_spl::prelude::*;
+
+use crate::state::{RouterConfig, RouterConfigInner};
+
+#[derive(Accounts)]
+pub struct InitializeRouterAccountConstraints {
+    #[account(mut)]
+    pub authority: Signer,
+
+    pub usdc_mint: Account<Mint>,
+
+    #[account(init, payer = authority, address = RouterConfig::seeds())]
+    pub router_config: Account<RouterConfig>,
+
+    pub rent: Sysvar<Rent>,
+    pub token_program: Program<TokenProgram>,
+    pub system_program: Program<SystemProgram>,
+}
+
+#[inline(always)]
+pub fn handle_initialize_router(
+    accounts: &mut InitializeRouterAccountConstraints,
+    bumps: &InitializeRouterAccountConstraintsBumps,
+) -> Result<(), ProgramError> {
+    accounts.router_config.set_inner(RouterConfigInner {
+        authority: *accounts.authority.address(),
+        usdc_mint: *accounts.usdc_mint.address(),
+        bump: bumps.router_config,
+    });
+    Ok(())
+}
@@ -0,0 +1,9 @@
+pub mod initialize_router;
+pub mod set_rate;
+pub mod swap_asset_for_usdc;
+pub mod swap_usdc_for_asset;
+
+pub use initialize_router::*;
+pub use set_rate::*;
+pub use swap_asset_for_usdc::*;
+pub use swap_usdc_for_asset::*;
@@ -0,0 +1,54 @@
+use quasar_lang::prelude::*;
+use quasar_spl::prelude::*;
+
+use crate::state::{
+    AssetRate, AssetRateInner, RouterAuthorityPda, RouterConfig, TreasuryPda,
+};
+
+#[derive(Accounts)]
+pub struct SetRateAccountConstraints {
+    #[account(mut)]
+    pub authority: Signer,
+
+    #[account(address = RouterConfig::seeds(), has_one(authority))]
+    pub router_config: Account<RouterConfig>,
+
+    pub asset_mint: Account<Mint>,
+    pub usdc_mint: Account<Mint>,
+
+    #[account(
+        init(idempotent),
+        payer = authority,
+        address = AssetRate::seeds(asset_mint.address()),
+    )]
+    pub asset_rate: Account<AssetRate>,
+
+    #[account(address = RouterAuthorityPda::seeds())]
+    pub router_authority: UncheckedAccount,
+
+    #[account(
+        init(idempotent),
+        payer = authority,
+        token(mint = usdc_mint, authority = router_authority, token_program = token_program),
+        address = TreasuryPda::seeds(),
+    )]
+    pub router_usdc_treasury: InterfaceAccount<Token>,
+
+    pub rent: Sysvar<Rent>,
+    pub token_program: Program<TokenProgram>,
+    pub system_program: Program<SystemProgram>,
+}
+
+#[inline(always)]
+pub fn handle_set_rate(
+    accounts: &mut SetRateAccountConstraints,
+    usdc_per_token: u64,
+    bumps: &SetRateAccountConstraintsBumps,
+) -> Result<(), ProgramError> {
+    accounts.asset_rate.set_inner(AssetRateInner {
+        mint: *accounts.asset_mint.address(),
+        usdc_per_token,
+        bump: bumps.asset_rate,
+    });
+    Ok(())
+}