fix(docs): clarify Core Vault management and ownership structure (#788)

Author: fassko

docs/fassets/1-overview.mdx

@@ -105,14 +105,25 @@ If an agent is found in violation, they enter **full liquidation**, permanently
 ## Core Vault
 
 The **Core Vault (CV)** is a specialized FAsset system component that enhances capital efficiency by allowing agents to store underlying assets without requiring additional collateral.
-Each asset type has its own dedicated Core Vault, which is managed by a multisig contract under formal governance oversight.
+Each asset type has its own dedicated Core Vault, which is managed by a multisig account on the underlying network under formal governance oversight.
 
 ### Key Features
 
 - **Collateral Efficiency:** Agents transferring assets to the CV free up collateral, allowing them to mint additional FAssets or withdraw funds.
 - **Redemption Support:** The CV ensures that underlying assets are available for redemptions, reducing reliance on individual agents.
 - **Security & Governance:** A multisig setup controls the vault, and governance can pause in case of security concerns.
 
+### Core Vault Implementation
+
+On networks without smart contracts (e.g., XRP Ledger), the Core Vault is a **multisig account** managed by signers authorized by Flare governance.
+Movements of funds require multiple signatures and follow formal agreements, not individual agent control.
+
+### Agent vs. Core Vault Ownership
+
+- **Agents:** Hold and control their own underlying assets in wallets as part of collateral.
+- **Core Vault:** Holds pooled assets that no single agent owns; agents can request assets but cannot directly control the vault.
+  This improves capital efficiency and liquidity for the system.
+
 :::tip[What's next]
 
 Learn more about the different components and processes involved in FAssets - [collateral](/fassets/collateral), [minting](/fassets/minting), [redemptions](/fassets/redemption), [liquidations](/fassets/liquidation) and [Core Vault](/fassets/core-vault).

docs/fassets/6-core-vault.mdx

@@ -45,13 +45,53 @@ This ensures redemption liquidity and protects the system from agent insolvency.
 
 ### Security Design
 
-Each asset type has a dedicated Core Vault, which is managed by a multisig contract under a formal agreement with Flare.
+Each asset type has a dedicated Core Vault, which is managed by a multisig account on the underlying network under a formal agreement with Flare.
 The assets stored in the CV do not belong to any specific agent and can be requested to return to the agent's collateralized security.
 To ensure security, governance has the authority to pause deposits and withdrawals if necessary, such as in the event of a system compromise.
 
 The Core Vault operates through a predefined address on the underlying chain and is managed via a multisig setup with smart contract oversight under formal Flare contracts.
 Governance has the authority to pause operations in the event of a security issue.
 
+## Core Vault Implementation
+
+### Fund Movement on Underlying Networks
+
+The Core Vault operates differently depending on the underlying network:
+
+**For XRP Ledger (XRP CV):**
+
+- The CV is implemented as a **multisig account** on the XRP Ledger.
+- Only the designated **multisig signers** can move XRP from the vault.
+- These signers are authorized by Flare governance and operate under formal agreements.
+- All outgoing transactions require multiple signatures from the authorized signers.
+
+### Agent Ownership Clarification
+
+There's an important distinction between agent ownership and CV ownership:
+
+### Agent Ownership (Standard FAssets)
+
+- Agents hold underlying assets in their own wallets.
+- These assets belong to the specific agent and are part of their collateral.
+- Agents have direct control over these assets.
+
+### Core Vault Ownership
+
+- Assets transferred to the CV become part of a shared pool.
+- These assets **do not belong to any specific agent** once in the CV.
+- The CV is a system-level reserve that any agent can request assets from.
+- This allows for better capital efficiency and system-wide liquidity.
+
+### Agent Collateral Requirements
+
+Agents are required to provide collateral in the form of:
+
+- **Flare's native token (FLR or SGB)**
+- **USDC/USDT (stablecoins)**
+
+When agents transfer underlying assets to the CV, they can reduce their collateral requirements while maintaining their minting capacity.
+The CV acts as a shared reserve that backs the system, allowing agents to operate more efficiently.
+
 ## Operational Workflow
 
 ### Transferring to Core Vault