> For the complete documentation index, see [llms.txt](https://docs.affluent.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.affluent.org/factorial-legacy/governance-and-fee.md).

# Governance & Fee

The Vault is governed by its owner :

* Has the authority to appoint a manager.
* Determines which liquidity pools are eligible for the Vault’s allocations by maintaining a whitelist.
* Factorial is not involved in the governance and operation of each vaults.