Risks

Known risks

• Contract risk. The code is unaudited. A bug in the vault, the adapters or the guard could lose funds outright.
• Oracle risk. NAV and rebalancing depend on price feeds. A manipulated or wrong feed produces a wrong share price and bad trades.
• Lending market risk. The yield leg inherits whatever the underlying money market is exposed to, including bad debt and utilisation spikes that delay withdrawals.
• Stock tokens are debt, not equity. Robinhood's stock tokens are tokenized debt securities. Holding one gives no voting rights, no shareholder rights and no claim on the underlying share — only exposure to its price, backed by the issuer.
• The issuer can freeze or destroy the position. The token contracts expose pause, adminBurn and blockAccounts. The issuer can halt all transfers, burn tokens out of any holder including this vault, and block a specific address. Read on-chain, not inferred.
• Splits are applied by a multiplier. A stock split changes a uiMultiplier on its own schedule, with no transaction from anyone here. The vault halts valuation until an operator confirms the change rather than risking a share price that is wrong by the split ratio.
• Liquidity risk. Thin pools mean the exit price can be materially worse than the marked price, especially outside session hours.
• Stablecoin risk. The base asset can depeg. The yield floor is only a floor while the floor holds.
• Keeper risk. Bounded, not zero. A compromised keeper can still burn value inside the slippage and size caps.
• Regulatory risk. Tokenized equities are not available in every jurisdiction, and the rules are moving. See Terms & eligibility.