Risks
Draft — for the owner to review before deposits open.
- The vault contracts are unaudited.
- Impermanent loss: the vault can end up worth less than simply holding both tokens.
- One issuer contract, AccessControlsRegistry 0xe10b6f6B275de231345c20D14Ab812db62151b00, is the beacon of all 194 Robinhood stock tokens. It can pause every stock token at once, blocklist any address (including this vault or your wallet), and upgrade the code of all stock tokens at once. Accounts it grants the ADMIN_BURNER role can burn tokens from any address, including this vault. Source: the verified contract code (Sourcify exact match of AccessControlsRegistry and Stock.sol), read 2026-09-12.
- A stolen agent key cannot withdraw or move your funds. At most 0.75% of vault value per UTC day could be lost through agent swaps at their slippage limits and through liquidity the agent adds while the pool price is away from the Chainlink price; this includes one re-centre swap a day of up to half the vault within 0.5% of the Chainlink price, only when the feed updated in the last hour. Ordinary impermanent loss comes on top.
- Robinhood stock tokens are not available to US persons.
- The Uniswap protocol fee is on in these pools; every figure shown is net of it.
- Weekend dislocation: stock tokens trade around the clock while the stock market is closed, so on-chain prices can move far from the last close.
Chainlink stock prices stop updating while the US stock market is closed: every week from Friday 20:00 to Sunday 20:00 US Eastern time, and on market holidays the owner adds on chain at least 48 hours ahead.
During a closure the agent may only widen the vault's range around the last price, never narrow or re-centre it, and deposits accept a wider gap between the pool price and the last price. Withdrawals stay open and never depend on the price feed.
The agent can only rebalance, harvest and pause deposits. With the production default guardrails a vault allows 2 rebalances per UTC day while the pool price is inside the range, 4 agent actions per UTC day in total, and agent swaps worth at most 10% of the vault per UTC day, each at most 1% worse than the Chainlink price.
Once per UTC day the agent may also make one re-centre swap of up to half the vault, within 0.5% of the Chainlink price, and only when that price updated in the last hour.
Liquidity the agent adds in one action may lose at most 0.1% of the vault's value should the pool price move back to the Chainlink price.
The owner can change these limits only within bounds fixed in the contract: swaps at most 3% worse than the Chainlink price, at most 12 agent actions and at most 10% of the vault swapped per UTC day, and at most 0.5% of the vault's value per agent action for new liquidity.
A change to these limits is proposed on chain and can take effect 48 hours later at the earliest; the Status page and each vault page show any pending proposal. The owner can revoke the agent at once.
Vault values count USDG at its Chainlink USDG/USD price, or at $1 when that price cannot be read.
Performance is compared with simply holding both tokens. Yield appears only as a realised figure over the past 7 days, net of the Uniswap protocol fee and the performance fee, once a vault holds at least $5,000; until then the site shows collecting data.
- New deposits sit idle until the agent's next harvest or rebalance but share the pool fees at once, so existing depositors give up a small part of their fees for that time.
- If the agent key is stolen and used to spend the day's action budget, a replacement agent cannot repair the vault's range until the next UTC midnight. Withdrawals stay open throughout.