A curator may look like the person deciding where Vault capital goes.

But how much of that decision is actually made before the curator chooses a market?

A multi-market Vault does not start with an unlimited list of markets.

Its architecture already places a condition on which markets can be connected: markets in the same Vault must use the same Debt Token.

The market whitelist then further defines which of those markets can actually be used for orders.

Only after those boundaries exist does the curator make the specific allocation decision.

So the process is closer to:

Vault capital
→ compatible market universe
→ whitelisted markets
→ specific allocation

That changes how I think about Vault allocation.

The curator still chooses where capital goes.

But that choice is made inside a market universe that the protocol architecture has already partially defined.

In other words:

Allocation ≠ simply choosing a market.

Allocation = choosing within an architecture-defined market universe.

Maybe the more interesting question isn't only where a curator puts capital.

It's how much of that choice already exists before the choice is made.

#termmax @TermMax