Risk disclosure

Depositing into a vault means trusting its curator and its code. This section covers the main risks. It is general information, not investment advice, and it does not cover every risk.

Smart contract risk

T3tris vaults are smart contracts. Bugs or exploits can cause loss of funds. An audit reduces this risk, it does not remove it.

Curator risk

At the end of the day, you are trusting the curator's strategy, judgment, and honesty. The curator sets fees, reports the valuation, and decides when to settle. The curator can also enable or disable deposits, pause the vault, or wind it down. Read the vault's description and track record before you commit.

Valuation risk

A closed vault's price per share comes from the curator's reported NAV, not a live market price. Deviation bounds limit how far one valuation can move, they do not guarantee it is accurate. A wrong or dishonest valuation mis-prices your deposit or redemption.

Liquidity and settlement risk

Deposits and redemptions are not instant. They complete at the next settlement, on the curator's schedule. There is no instant withdrawal and no forced unwind. If a curator settles rarely, delays, or stops settling, your funds stay locked until they act.

Market and strategy risk

A vault's value moves with its strategy. Returns are not guaranteed, and a vault can lose value. Some strategies add counterparty risk: centralized exchanges, OTC desks, RWA issuers, or options counterparties sit outside the vault's smart contract. Check the vault's composition and description for this exposure.

Fee risk

Fees reduce your net return. The management fee accrues continuously, including while a vault is paused. Entry and exit fees apply on top of any change in share price.

Pause and wind-down risk

A curator can pause a vault at any time, halting deposits and redemptions. A curator can also enable end-of-fund to wind the vault down. Neither action requires depositor consent. When the vault is closed, withdrawals are still available.

Whitelist risk

Some vaults gate deposits or redemptions with a whitelist. If a vault enables a withdrawal whitelist, an address removed from it can be blocked from redeeming.

Admin key risk

Whoever holds the vault admin role can reconfigure fees, roles, and core addresses. A compromised or poorly secured admin wallet can be misused. Check the vault's Governance section for who holds this role.

No custody, no insurance

T3tris never takes custody of your assets, and it does not insure against loss. There is no protocol-level compensation fund. Your recourse for curator misconduct or a smart contract failure is limited.

If you are not comfortable with a risk on this list, do not deposit.