diff --git a/protocol/testutil/constants/vault.go b/protocol/testutil/constants/vault.go
new file mode 100644
index 0000000000..eba5e6120d
--- /dev/null
+++ b/protocol/testutil/constants/vault.go
@@ -0,0 +1,16 @@
+package constants
+
+import (
+	vaulttypes "github.com/dydxprotocol/v4-chain/protocol/x/vault/types"
+)
+
+var (
+	Vault_Clob_0 = vaulttypes.VaultId{
+		Type:   vaulttypes.VaultType_VAULT_TYPE_CLOB,
+		Number: 0,
+	}
+	Vault_Clob_1 = vaulttypes.VaultId{
+		Type:   vaulttypes.VaultType_VAULT_TYPE_CLOB,
+		Number: 1,
+	}
+)
diff --git a/protocol/x/vault/keeper/shares.go b/protocol/x/vault/keeper/shares.go
new file mode 100644
index 0000000000..467af6cf24
--- /dev/null
+++ b/protocol/x/vault/keeper/shares.go
@@ -0,0 +1,41 @@
+package keeper
+
+import (
+	"cosmossdk.io/store/prefix"
+	sdk "github.com/cosmos/cosmos-sdk/types"
+	"github.com/dydxprotocol/v4-chain/protocol/dtypes"
+	"github.com/dydxprotocol/v4-chain/protocol/x/vault/types"
+)
+
+// GetTotalShares gets TotalShares for a vault.
+func (k Keeper) GetTotalShares(
+	ctx sdk.Context,
+	vaultId types.VaultId,
+) (val types.NumShares, exists bool) {
+	store := prefix.NewStore(ctx.KVStore(k.storeKey), []byte(types.TotalSharesKeyPrefix))
+
+	b := store.Get(vaultId.ToStateKey())
+	if b == nil {
+		return val, false
+	}
+
+	k.cdc.MustUnmarshal(b, &val)
+	return val, true
+}
+
+// SetTotalShares sets TotalShares for a vault. Returns error if `totalShares` is negative.
+func (k Keeper) SetTotalShares(
+	ctx sdk.Context,
+	vaultId types.VaultId,
+	totalShares types.NumShares,
+) error {
+	if totalShares.NumShares.Cmp(dtypes.NewInt(0)) == -1 {
+		return types.ErrNegativeShares
+	}
+
+	b := k.cdc.MustMarshal(&totalShares)
+	totalSharesStore := prefix.NewStore(ctx.KVStore(k.storeKey), []byte(types.TotalSharesKeyPrefix))
+	totalSharesStore.Set(vaultId.ToStateKey(), b)
+
+	return nil
+}
diff --git a/protocol/x/vault/keeper/shares_test.go b/protocol/x/vault/keeper/shares_test.go
new file mode 100644
index 0000000000..06454b0b80
--- /dev/null
+++ b/protocol/x/vault/keeper/shares_test.go
@@ -0,0 +1,67 @@
+package keeper_test
+
+import (
+	"testing"
+
+	"github.com/dydxprotocol/v4-chain/protocol/dtypes"
+	testapp "github.com/dydxprotocol/v4-chain/protocol/testutil/app"
+	"github.com/dydxprotocol/v4-chain/protocol/testutil/constants"
+	"github.com/dydxprotocol/v4-chain/protocol/x/vault/types"
+	"github.com/stretchr/testify/require"
+)
+
+func TestGetSetTotalShares(t *testing.T) {
+	tApp := testapp.NewTestAppBuilder(t).Build()
+	ctx := tApp.InitChain()
+	k := tApp.App.VaultKeeper
+
+	// Get total shares for a non-existing vault.
+	_, exists := k.GetTotalShares(ctx, constants.Vault_Clob_0)
+	require.Equal(t, false, exists)
+
+	// Set total shares for a vault and then get.
+	err := k.SetTotalShares(ctx, constants.Vault_Clob_0, types.NumShares{
+		NumShares: dtypes.NewInt(7),
+	})
+	require.NoError(t, err)
+	numShares, exists := k.GetTotalShares(ctx, constants.Vault_Clob_0)
+	require.Equal(t, true, exists)
+	require.Equal(t, dtypes.NewInt(7), numShares.NumShares)
+
+	// Set total shares for another vault and then get.
+	err = k.SetTotalShares(ctx, constants.Vault_Clob_1, types.NumShares{
+		NumShares: dtypes.NewInt(456),
+	})
+	require.NoError(t, err)
+	numShares, exists = k.GetTotalShares(ctx, constants.Vault_Clob_1)
+	require.Equal(t, true, exists)
+	require.Equal(t, dtypes.NewInt(456), numShares.NumShares)
+
+	// Set total shares for second vault to 0.
+	err = k.SetTotalShares(ctx, constants.Vault_Clob_1, types.NumShares{
+		NumShares: dtypes.NewInt(0),
+	})
+	require.NoError(t, err)
+	numShares, exists = k.GetTotalShares(ctx, constants.Vault_Clob_1)
+	require.Equal(t, true, exists)
+	require.Equal(t, dtypes.NewInt(0), numShares.NumShares)
+
+	// Set total shares for the first vault again and then get.
+	err = k.SetTotalShares(ctx, constants.Vault_Clob_0, types.NumShares{
+		NumShares: dtypes.NewInt(123),
+	})
+	require.NoError(t, err)
+	numShares, exists = k.GetTotalShares(ctx, constants.Vault_Clob_0)
+	require.Equal(t, true, exists)
+	require.Equal(t, dtypes.NewInt(123), numShares.NumShares)
+
+	// Set total shares for the first vault to a negative value.
+	// Should get error and total shares should remain unchanged.
+	err = k.SetTotalShares(ctx, constants.Vault_Clob_0, types.NumShares{
+		NumShares: dtypes.NewInt(-1),
+	})
+	require.Equal(t, types.ErrNegativeShares, err)
+	numShares, exists = k.GetTotalShares(ctx, constants.Vault_Clob_0)
+	require.Equal(t, true, exists)
+	require.Equal(t, dtypes.NewInt(123), numShares.NumShares)
+}
diff --git a/protocol/x/vault/types/errors.go b/protocol/x/vault/types/errors.go
new file mode 100644
index 0000000000..68d2ed719d
--- /dev/null
+++ b/protocol/x/vault/types/errors.go
@@ -0,0 +1,13 @@
+package types
+
+// DONTCOVER
+
+import errorsmod "cosmossdk.io/errors"
+
+var (
+	ErrNegativeShares = errorsmod.Register(
+		ModuleName,
+		1,
+		"Shares are negative",
+	)
+)
diff --git a/protocol/x/vault/types/keys.go b/protocol/x/vault/types/keys.go
index 7e130df0e9..3ff5c4c37e 100644
--- a/protocol/x/vault/types/keys.go
+++ b/protocol/x/vault/types/keys.go
@@ -1,10 +1,16 @@
 package types
 
-// Module name and store keys
+// Module name and store keys.
 const (
-	// ModuleName defines the module name
+	// ModuleName defines the module name.
 	ModuleName = "vault"
 
-	// StoreKey defines the primary module store key
+	// StoreKey defines the primary module store key.
 	StoreKey = ModuleName
 )
+
+// State.
+const (
+	// TotalSharesKeyPrefix is the prefix to retrieve all TotalShares.
+	TotalSharesKeyPrefix = "TotalShares:"
+)
diff --git a/protocol/x/vault/types/keys_test.go b/protocol/x/vault/types/keys_test.go
new file mode 100644
index 0000000000..6b70d1828c
--- /dev/null
+++ b/protocol/x/vault/types/keys_test.go
@@ -0,0 +1,17 @@
+package types_test
+
+import (
+	"testing"
+
+	"github.com/dydxprotocol/v4-chain/protocol/x/vault/types"
+	"github.com/stretchr/testify/require"
+)
+
+func TestModuleKeys(t *testing.T) {
+	require.Equal(t, "vault", types.ModuleName)
+	require.Equal(t, "vault", types.StoreKey)
+}
+
+func TestStateKeys(t *testing.T) {
+	require.Equal(t, "TotalShares:", types.TotalSharesKeyPrefix)
+}
diff --git a/protocol/x/vault/types/vault_id.go b/protocol/x/vault/types/vault_id.go
new file mode 100644
index 0000000000..131d16f0f9
--- /dev/null
+++ b/protocol/x/vault/types/vault_id.go
@@ -0,0 +1,9 @@
+package types
+
+func (id *VaultId) ToStateKey() []byte {
+	b, err := id.Marshal()
+	if err != nil {
+		panic(err)
+	}
+	return b
+}
diff --git a/protocol/x/vault/types/vault_id_test.go b/protocol/x/vault/types/vault_id_test.go
new file mode 100644
index 0000000000..b7e4c77b1f
--- /dev/null
+++ b/protocol/x/vault/types/vault_id_test.go
@@ -0,0 +1,16 @@
+package types_test
+
+import (
+	"testing"
+
+	"github.com/dydxprotocol/v4-chain/protocol/testutil/constants"
+	"github.com/stretchr/testify/require"
+)
+
+func TestToStateKey(t *testing.T) {
+	b, _ := constants.Vault_Clob_0.Marshal()
+	require.Equal(t, b, constants.Vault_Clob_0.ToStateKey())
+
+	b, _ = constants.Vault_Clob_1.Marshal()
+	require.Equal(t, b, constants.Vault_Clob_1.ToStateKey())
+}