Managers
Delegate operations to humans or AI within unbreakable boundaries you control
Managers are authorized operators that execute strategies and handle payments for your Underscore wallet — without ever having full control. Set exact permissions: "Trade up to $50k USDC but never touch my ETH." Restrict to specific protocols: "Only rebalance between Aave, Morpho, Euler, and Compound." Define spending limits: "$10k daily, $100k monthly." Add time-based controls that auto-expire. Revoke access instantly with one click.
Let AI agents capture yield spikes at 3am. Enable your CFO to pay vendor invoices without accessing reserves. Allow traders to work specific positions within exact boundaries. Every action validated onchain against your rules.
Why Managers Exist
The Problem with Manual Wallet Management
Running a wallet solo creates impossible tradeoffs:
24/7 Opportunities: DeFi never sleeps, but you need to
Routine Tasks: Paying vendors, claiming rewards, rebalancing — repetitive time drains
Specialized Knowledge: Complex strategies require expertise you might not have
Emergency Access: If something happens to you, your funds are locked
Traditional solutions all fail:
Shared keys: One compromised key loses everything
Multi-sig: Slow, requires coordination for every transaction
Custody services: You lose control and pay high fees
The Manager Solution
Managers enable programmable delegation with precise controls:
Limited Permissions: Grant only specific actions (lend, swap tokens, pay Payees, etc.)
Spending Limits: Hard caps on transaction and period amounts
Asset Restrictions: Limit which tokens managers can touch
Instant Revocation: Remove access with one transaction
Time Delays: Optional cooling periods for sensitive actions
Two-Phase Security Checks
Every manager action undergoes automatic validation:
Before Any Action:
✓ Is this manager still active?
✓ Can they perform this specific action?
✓ Can they touch this particular asset?
✓ Are they using an approved protocol?
✓ Has enough time passed since their last action?
After The Action:
✓ Did they stay under their per-transaction limit?
✓ Are they still within their daily/weekly/monthly budget?
✓ Have they exceeded their total lifetime allowance?
Both phases execute atomically within the transaction — if any check fails, the entire action reverts.
Permissions: What Managers Can Do
Permissions are granular capabilities you grant to managers. You can mix and match these permissions to create the exact operator profile needed — from a CFO who only pays vendors to an AI that manages your entire DeFi strategy. Each permission is independent and can be combined with others.
Transfer & Payment Operations
DeFi Operations
Buy & Sell
Swap tokens, rebalance portfolios
Maintain 60/40 ETH/USDC ratio
Manage Yield
Deposit/withdraw from yield protocols
Rebalance Morpho/Aave positions
Manage Debt
Handle loans and collateral
Keep 150% collateralization
Manage Liquidity
Provide/remove DEX liquidity
Optimize Uniswap V3 ranges
Administrative Operations
Whitelist Management
Add/remove approved addresses
Maintain vendor list
📝 Time Units in Underscore All time-based settings (delays, cooldowns, periods) are stored in blocks, not wall-clock time. On Base L2 with 2-second blocks:
1 hour (1,800 blocks)
1 day (43,200 blocks)
1 week (302,400 blocks)
Examples in this guide assume Base's 2-second block time.
Controls: Security Boundaries
While permissions define what actions managers can take, controls set the boundaries within which they operate. These limits ensure that even trusted managers can't exceed your risk tolerance or drain your wallet through mistakes or malicious behavior. Every manager action must pass through these security checkpoints.
Financial Limits
Per-Transaction Limits
Maximum USD value for any single transaction
Example: $5,000 cap prevents large one-time losses
Period-Based Limits
Total USD value allowed within recurring time windows
Period length set via
managerPeriodin global settings (e.g., 1 day = 43,200 blocks)Periods reset automatically when the current period ends
Example: $10,000 per day for trading operations
Week 1: Use $7k of $10k limit → Week 2: Fresh $10k limit
Unused amounts don't roll over — each period starts cleanLifetime Limits
Cumulative USD cap over Manager's entire tenure
Example: $500,000 total for year-long AI service
Operational Controls
Transaction Cooldown
Mandatory waiting period between transactions
Measured in blocks (e.g., 1 hour = 1,800 blocks on Base)
Prevents rapid-fire mistakes or attacks
Asset Restrictions
Limit Manager to specific tokens (e.g., only stablecoins)
Granular control over what can be touched
Maximum 40 different assets per manager
Protocol Restrictions (Legos)
Restrict to specific DeFi protocols by ID
Each protocol ("Lego" = standardized integration, e.g., Aave, Curve) registered in LegoBook
Example: Only allow Aave and Compound interactions
Maximum 25 different protocols per manager
Payee Restrictions
Limit transfers to pre-approved addresses only
Perfect for business operations with known vendors
Maximum 40 approved payees per manager
Fail on Zero Price
Safety feature blocking transactions when asset price is $0
Prevents trading during oracle failures
Protects against manipulation when prices unavailable
Time-Based Security
Activation Delay
New Managers wait before permissions activate
Configurable delay period set by you (e.g., 1 hour, 1 day, 1 week)
Time to verify additions and cancel if suspicious
Protects against rushed or malicious manager additions
Activation Length
Set Manager expiration periods
Auto-revoke after: 30 days (trial), 90 days (quarterly), 365 days (annual)
No action needed — permissions end automatically
Global vs Specific Settings
Underscore employs a dual-layer configuration system where the most restrictive settings always apply:
Global Manager Settings
Master template for all managers in your wallet
Sets maximum boundaries no manager can exceed
Includes
canOwnerManageflag determining if you're subject to limits
Specific Manager Settings
Individual configuration per manager
Can be more restrictive than global, never less
Both global AND specific permissions must allow an action
Example: Permission Hierarchy
Global: Can trade = Yes, Max per tx = $100k
Manager A: Can trade = Yes, Max per tx = $50k → Limited to $50k
Manager B: Can trade = No, Max per tx = $200k → Cannot trade at allReal-World Examples
Yield Optimization
Setup: $100k in stablecoins with YieldMaxAI Agent
Permissions:
Assets: Stablecoins only (USDC, USDT, DAI)
Protocols: Aave, Morpho, Euler only
Limits: $20k per transaction, 6-hour cooldown
Results:
Captured 5.2% Morpho rate at 3am
Moved to 6.1% Euler promotional rate
Auto-claimed $312 in missed rewards/incentives
Additional yield: $3,000 annually
Business Operations
Setup: Global crypto company with 30+ contractors and vendors, CFO as manager
Permissions:
Recipients: Pre-approved contractor and vendor addresses only
Limits: $2,500 per payment, $25,000 weekly
Cooldown: 1 hour between payments
Assets: USDC only
Results:
CFO handles vendor payments independently
Eliminated $1,750/month in wire fees
Owner freed from payment operations
Investment funds remain untouchable
Family Office Trading
Setup: 5 professional traders as individual managers
Permissions per trader:
Assets: ETH, BTC, stablecoins
Protocols: Major DEXes only
Limits: $100k per trade, $500k daily cap per trader
Duration: Quarterly contracts, 3-day activation delay
Results:
Risk distributed across multiple traders
No single trader can exceed loss limits
Each trader's P&L tracked separately
Underperformers removed at quarter end
Debt Management AI
Setup: Ripe Protocol Debt Manager AI Agent
Permissions:
Manage Debt: Repay loans, add collateral
Manage Yield: Withdraw from Aave/Morpho for repayments
Limits: $50k per transaction, $200k daily
Results:
Maintains 150% collateralization ratio 24/7
Auto-withdraws yield to repay when needed
Added $15k collateral during market volatility
Prevented liquidation during 20% market drop
Teen Trading Education
Setup: 16-year-old son learning DeFi with monthly allowance
Permissions:
Buy & Sell: Can swap between major tokens
Manage Yield: Can deposit to Aave/Morpho/Euler only
Assets: Limited to ETH, USDC, and top 10 tokens
Limits: $100 per transaction, $500 monthly cap
Cooldown: 30 minutes between trades
Duration: 6-month trial period
Results:
Son learns DeFi with real money, real stakes
Losses capped at affordable education cost
Can't access family's main holdings
Built experience before accessing own wallet at 18
Lifecycle Management
Manager States
Added → Waiting → Active → Expired
│ │ │ │
└────────┴─────────┴────────┴─→ Removable anytime
│ │
│ └─→ Extendable (resets expiry)
│
└─→ Cancellable before activationAdministrative Hierarchy
You (The Owner)
Add, update, remove any Manager
Modify all settings and limits
Extend activation periods
Ultimate control always
The Manager
Can only remove themselves
Cannot modify permissions
Cannot add other Managers
Prevents permission escalation
Common Questions
Can managers add other managers? No. Only the wallet owner can add new managers. This prevents permission escalation attacks.
What happens when a manager expires? They automatically lose all permissions. No action needed from you.
Can I change limits without removing the manager? Yes. You can modify permissions, limits, and allowed assets/protocols anytime.
Do unused period limits roll over? No. Each period starts fresh with the full limit. Use it or lose it.
Working with Other Features
Managers and Payees
Managers can transfer to approved payees within their limits
Add payee restrictions to limit manager transfers to known addresses
Perfect for accounts payable roles with vendor payment access
Managers and Cheques
Managers can create cheques within their spending limits
Cheque amounts count against manager's daily/period/lifetime caps
Time delays on cheques add extra security layer
Managers and Whitelist
Managers cannot modify the whitelist
Whitelisted addresses bypass all manager restrictions
Use whitelist for emergency access, managers for daily operations
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